Own Bitcoin? Your Plan needs Updating.

In August of 2020 Bitcoin surged in value to more than $11,000. Though this does not beat the $20,000 Bitcoin achieved in 2017 and it has fallen back to since then, it does show that Bitcoin is a valuable asset that more and more people own. It is estimated that 25% of individuals between the ages of 24 and 38 own one or more cryptocurrencies and a growing number of mainstream business such as Whole Foods
, Expedia
(and even some law firms) accept cryptocurrency in payment of goods and services. With this increase in both value and use, cryptocurrency become an increasingly important factor in income and estate tax planning, both during your lifetime and after your death.

Here are a few of the points where planning for the use and

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Forget gold and Bitcoin. I’d follow Warren Buffett and buy cheap shares to get rich

The idea of buying cheap shares may seem less appealing after the stock market crash. It highlighted the volatility that can be present in the stock market over short time periods. It also showed that paper losses that can be incurred by any investor.

However, over the long run, purchasing undervalued companies could be a profitable move. It’s a strategy that’s been used to great effect by Warren Buffett. The billionaire investor has used market downturns to his advantage over many years.

As such, avoiding popular assets such as Bitcoin and gold to buy bargain stocks may be a sound move, despite heightened short-term risks.

The appeal of cheap shares

Cheap shares can sometimes be priced at low levels because they offer disappointing investment outlooks. For example, they may have high debt levels or a weak strategy that’s in need of major change.

However, in some cases, undervalued stocks can

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