We are in a STATE of EMERGENCY 🚨
People are literally on suicide watch!
Well...lets rewind,
The market is crazy and numbers have dipped! In fact numbers have dipped so much in crypto that people who have put all their money into certain coins have lost everything.
Luna specifically went from $140 to 40 cents and people who have put their life savings into Luna started committing suicide.
We will circle back to the crypto dip, but let's step outside for a second.
A few weeks ago we saw customers stealing from grocery stores and just last night saw someone run out on a gas station.
We are in a State of Emergency but there are lessons to be learned here.
No, the lesson isn't not to invest into crypto.
The lesson is, financial literacy is important and investing is not saving. Putting your all into one asset class is a gamble. People are getting hot at the poker table and putting all of their money on the line and instead of going home while they are hot they get burnt.
Before the crashes, it was reported that over 50% of the people who had invested into crypto weren't knowledgeable about the coins they had.
Be financially astute and learn about other assets to hedge yourself.
That was lesson 1
Now, we brought up stealing from grocery stores and gas stations because it is the wild wild west out here. Aside the crypto crashes we are expecting another recession and likely a depression.
Is your money placed in assets that can withstand this state?
This is why we have insurance reserves and inform you all to put your money there as well. Cash value life insurance stayed liquid and net positive in the last depression. There is no one asset you should have, there are many and you learn to make them work together.
That was lesson 2
Protect your MONEY