Weekend Reading: Why FOMO Can Be Hazardous to Your Retirement Plan

This article appears as part of Casey Weade's Weekend Reading for Retirees series. Every Friday, Casey highlights four hand-picked articles on trending retirement topics and delivers them straight to your email inbox. Get on the list here.
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Weekend Reading

You’ve seen the news headlines and social media posts; Bitcoin is the new hot investment, then Dogecoin and you can’t forget the GameStop debacle. Worth the craze? Chances are, you’ve wondered, and you might have felt a little FOMO (Fear of Missing Out) from sitting on the sidelines, too. Read the article from Forbes below.


Meaning of your money: While trending investments seem to come and go, their rise to fame can often make you question if you’re trailing behind on your financial goals. As a result, you might be tempted to make short-sighted moves with your portfolio; but before you do, take a step back, evaluate the true purpose of your hard-earned savings and be conscious of the risk you’re willing to take.

A risky reality: Although the explosion in the value of financial fads might seem as though they could leave you with a fortune, know that what goes up, often comes down. The risk of an investment can be measured by how high it can go versus how low it can dip, and that number measured against a typical market index is defined as Beta. When it comes to Bitcoin and GameStop? Both have more than five times the risk of the average stock. So, ask yourself, are you willing to take that bet?

My advice: It’s okay to take some risk and make some bets, but don’t EVER jeopardize your financial future for the latest investment trends.