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This is the stuff you millionaires in the making need to know to kick start or propel you on your financial fitness journey. Tracey Bissett, Founder of Bissett Financial Fitness and award winning Financial Literacy Champion, gives you the straight goods each week to set yourself up for financial success. As a former executive at TD Bank, one of Canada's Big 5 Banks, Tracey has worked with and in support of thousands of individuals and entrepreneurs to secure the financing they needed.  This hands on experience combined with her formal financial education, Masters of Business Administration and Chartered Financial Analyst designation, position Tracey uniquely to coach all things money. Tracey goes behind-the-scenes of all the money matters with need-to-know tips, money-making demystified, and special power-player interviews. Join us weekly for Financial Fitness Training that will turn even a Cash Couch Potato into a Marathon Money Maker.

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  2. EP179 Milli Moves: Bitcoin – Investing or Gambling?

EP179 Milli Moves: Bitcoin – Investing or Gambling?

Feb 2, 2021

Are you betting on Bitcoin? Things are uncertain right now, and 2021 will stay this way for a while, but it’s still imperative that we focus on our financial health. In this episode, I’m discussing whether Bitcoin is an investment you may want to consider—or whether it’s a gamble you’ll want to avoid.

Listen in as I share the basics of investing, speculating, and gambling, and where Bitcoin fits into this equation. I’ll also be sharing the three factors that determine whether you’re investing or speculating, and the three questions you should be asking yourself before making any kind of investment.

“Risk and return go hand in hand in investing.” - Tracey Bissett

This Week on Young Money:

  • The basics of investing.
  • What the riskiest investments typically are.
  • The difference between investing, speculating, and gambling.
  • What Bitcoin is.
  • Three factors that determine investing vs. speculating.
  • The three questions to ask yourself before making any kind of investment.

Key takeaways:

  1. Focus on your goals. 
  2. Risk and return go hand in hand - don’t bet more than you’re willing to lose.
  3. Make use of a professional, like a financial planner, to help guide you in the investing process.

Resources Mentioned:

 

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