It has not been a good month for those looking to make a quick buck, at least when it comes to trading stocks or cryptocurrencies.
Last week, FTX, a leading cryptocurrency exchange boasting over one million users, filed for bankruptcy.
Last month, online trader Robinhood (HOOD) reported its seventh consecutive quarterly drop in revenue, with 35% fewer users from the same period of one year ago.
The lure of making a quick buck attracts many young investors onto these types of trading platforms. There are many other investors however, who get involved in things like FTX or Robinhood simply because they haven’t been introduced to a smarter alternative to building wealth.
That’s where you come in – show them a better way to save and invest for building lasting wealth.
For those who want to save more, forward this New York Times article by Peter Coy titled “It’s called cash-stuffing, and it’s extremely non-digital.”
Stay the Course
Even the most seasoned investors are lured by the opportunity to make a quick buck. Building a long-term financial plan is the best way to stay the course and avoid becoming part of these news stories. Build a plan with me - let’s strategize before the new year.