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RE: Dashboard Dangers Part 3: Diversification & Samples
I'm trying to approach this perfect number, but I'm more around 10 for now. I also like to diversify in material investment, like silver, gold, collection coins. You never know... And gold, for example, is the only thing that never lost value in the history of humanity. So I think it's always good to have some.
For now, I'm mostly invested in gold and in cryptocurrencies, but would you advise me to invest also in some "classic" stocks?
Thanks for the concise article, and the great synthesis. ;)
Thanks for your response @troilo. Yeah, it's good to be invested in some safe assets and some risky assets as well. There's a classic formula if you've ever taken a finance or investing class that Risk=Reward. In order to make big returns, you have to take a lot of risk. I don't think it's the right time at the moment to get into the market since I don't think we've seen the bottom yet (this is just my opinion and in no way financial advice) but one thing I like to do is go for dividend income in at least a portion of my investments. While the capital gains offer tax incentives, the only way you gain money is to reduce your position in an asset. I like to have some passive streams as well that pay me while I hold them. utilities and communications stocks are a relatively safe way to earn some dividend income (again, my opinion and not professional investment advice)
Thank you for the "not professional investment advice". ;) It's always helpful to get different points of view.