How to go about securing the best return for your investment in Canada.
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How to talk to your parents about crypto
– moneysense.ca
After hearing countless success stories from crypto investors on social media, Martin Dasko, a 36-year-old money blogger in Toronto, could no longer ignore the hype. His father happened to be an early adopter of the cryptocurrency ether (the native coin of the Ethereum platform). But when Dasko brought up the subject of crypto investing in March 2021, he was met with skepticism. His father responded with quips about crypto’s unsustainable growth and wild swings, and he questioned the lack of regulation and corporate governance. Ignoring his dad’s warnings, Dasko went ahead with his own research and decided to invest a small amount of money.
Talking about crypto with your family
With Canadians having different opinions about crypto—not to mention different levels of comfort and familiarity with the asset—you couldn’t bet how someone might respond. So, it can be a tricky topic to discuss with family members. It may be helpful for you to bridge the gap.
“These conversations can involve a type of reverse mentoring, in which young adult children (millennials and Gen Zs) may end up teaching their parents about the blockchain and cryptocurrency,” says Robin Taub, Chartered Professional Accountant and author of The Wisest Investment: Teaching Your Kids to Be Responsible, Independent and Money-Smart for Life (Robin Taub Financial Consulting, 2021)…
