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RE: The value of Risk - Philosophical Thoughts on Investments?
I wish I could buy cryptos in my Roth IRA, which is all cash now as I wait for that market to correct. Unfortunately most of the rest of my immediate liquidity got hit by the dip, so moving it around doesn't help. I could have some more liquid fiat next week and we'll see how I feel if the downtrend continues.
I spent a decade and a half building my risk tolerance and bringing my emotional attitude closer to my math. It's amazing from this end what an advantage that can be. Worth the work, definitely.
I have not done too much research into this, but I've seen ads on IRAs with cryptos or at least something of the sort.
Risk Tolerance sounds like a class someone could teach, right?
Yeah, crypto IRAs may very well exist, it's just that the brokerage my IRA is at doesn't support them. My non-retirement brokerage supports cryptos but doesn't have IRAs. Well, they sort of do; I can buy a range of cryptos but it's only a bet, I can't actually withdraw them or do anything with them, which seems half-assed to me.
Maybe someone will come along and recommend something better to me.
I will have to give some thought to if I can express some of my lessons in a teachable context, whether that's a post or something else. Mostly I got here just by coping with repeated large downswings and getting better at it as I went along, though.
You know where my mind goes to when I think of this? shock therapy... I know, it might make someone twist their head sideways... but hear me out...
There are people who are afraid of dogs, and the cure is to put them in a room full of harmless puppies... they scream, freak out.. and then realize everything is fine...
Something like that.... i gotta mature the idea..
I had a friend who had a rescue dog who was afraid of cardboard boxes, and the trainer's prescribed treatment was for her to train him to do 100 behaviors involving a cardboard box.
We are on to something... im telling you...