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The federal government went into a partial shutdown this weekend as the House faces votes on Senate-passed bills for some agencies and a resolution to continue funding DHS for another couple of weeks.
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About 145 million American adults say that they own or have owned cryptocurrency. Statistically, that's more than half of your co-workers, neighbors and friends.
It's also about the number of Americans who own stocks.
Even though it's not regulated by a government agency, cryptocurrency is becoming mainstream. However, President Biden recently signed an executive order to address cryptocurrency risks with a whole-of-government approach that could make cryptocurrency even more attractive to investors as well as traditional banks and credit unions.
SEE MORE Crypto Has Been Through the Wringer in 2022: What Now?
For the near term though, cryptocurrency remains a volatile, speculative asset that will likely continue its gut-wrenching booms and busts. That's not to say that cryptocurrency doesn't belong in a well-diversified portfolio, but I recommend that my clients first educate themselves about cryptocurrency before deciding whether or not to invest.
As Warren Buffet said about investing in cryptocurrency: "I get into enough trouble with the things I think I know something about. Why in the world should I take a long or short position in something I don't know about?"
Here are some important concepts to get comfortable with.
How Cryptocurrency Works: The Basics
Say you order a new set of patio furniture online. A credit card company or p
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If a car dealer lets you take a car out for a test drive and it suffers catastrophic engine and transmission damage, are you responsible for the repair charges?
Note, I didn't say, "Because of something that you did wrong," rather, that it experienced a breakdown that occurred while you were driving the vehicle.
SEE MORE PODCAST: Car-Buying in an Inflated Market with Jenni Newman
Confused? So, too was my reader, "Alissa" who lives in a suburb of Los Angeles, not far from one of most picturesque and yet dangerous sections of freeway on Interstate 5, which connects Southern California with the Central Valley.
Known as the Tejon Pass, often called the Grapevine, it is a steep 5½ mile, 6% grade at the northern end of the pass that makes national news every winter when it is shut down due to ice and snow, stranding thousands of motorists and big rig drivers.
In summer, it can destroy a vehicle's engine and transmission if they are in poor condition. It has two runaway truck ramps. All of that said, coming down I-5 is one of the most dramatic drives I know of and never tire of the experience.
Found the ‘Ideal' Used Compact Sporty Car
"I was looking for a low-mileage, automatic, sporty car from Detroit and found a 2013 model year that I thought was ideally priced at $15,000 at a car dealership in Los Angeles. They photocopied my ID and driver's license, handed me the keys and said, ‘While this particular model is no longer being manufactured, it was seen as Detroit's answer to BMW and Mercedes. Take it anywhere you like.'
"I have family who live in the Central Valley and know the Grapevine like the back of my hand. After reaching the summit at about 4,000 feet, I began my descent, and shifted into a lower gear as I have always done. This is called ‘engine breaking'
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