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RE: Investing Life Savings Into Cryptocurrencies - One Year On

I know what you did goes counter to traditional advice. However, the more I reflect on it, the more it seems like a smart move.

Younger people (<30) are bound to have less of a savings pot because they haven't had chance to build it. You have less to lose (or less to protect), so why not take that (calculated) risk? I'd imagine the downside wouldn't destroy you in the long-term.

For someone whose about to retire, the same move is moronic. Investing a small proportion of your savings in those circumstances is the right move - as you have a pot of money which you've spent your whole life building. It would destroy you if things turned sour.

Mentioned this in a post I just published, as it does go counter to the standard /r/PersonalFinance advice and it's nice to have the discussion out there.