I'm all in with cryptocurrency investment. Is it time to diversify?
I started thinking about this mid-way through last year. As my investment has grown in size, I started to ask the question, what is the most responsible way to handle money?
A little investigation revealed that most wealth his lost after three generations. There are some families that are able to hold on to their wealth over successive generations. How do they do it?
I did a little research and uncovered an interesting article which suggested four ways that families have secured their wealth across generations.
- Land
- Business
- Precious metals
- Precious art
Last year, I began the process of moving some of my investment out of cryptocurrency into precious metals. This year I'm working on creating a business which involves property. This might kill two birds with one stone, land and business.
I think precious art is probably out of my price range, so I'll save that one for when I achieve a greater level of wealth.
That's might thoughts today for my journal writing. I'd like to hear your thoughts, if you have any, on diversifying investments.