What do I do about my crypto-obsessed dad who keeps telling me to buy coins?

[CherryRedOctopus7]

For the past three years or so, every time I (25F) talk to my dad (63M), he tells me about some crypto coin I should be buying. He's been following this guy on YouTube who has a course on how to become a millionaire in a year after the bear market ends, and my parents have been buying all the coins he recommends. After he gives me the latest update on the crypto market, I get a recommendation to "Buy QUANT! Buy GALA! Buy more VeChain!"

I, being a person who doesn't want to spend my limited fun money and not a full believer in crypto, mostly smile and listen and eventually change the topic. He even said he's going to buy me a crypto coin as my birthday gift, which I told him not to do because if anything, I'd rather have real money and not have to sell the coin behind his back. He got upset even when I told him that.

After the last time we met, and he told me what crypto I should be investing in, I politely listened and told him I'll think about it, but he got loud with me that I should stop shrugging him off and buy these coins because they're going to be "huge." 

[CherryRedOctopus7]

He says they've made a few thousand in profit so far, but that's still in their accounts because they haven't sold yet, obviously. They're really closely following this guy's advice, have downloaded his chart on what crypto to buy and when, posted it on the study wall, and crypto people on YouTube constantly. He keeps telling me that 1-2 years, all these coins should explode once the bear market ends and they'll be millionaires.

[boltnrun]

Why doesn't he just let you manage your own finances? You are an adult. You can do whatever you want with your own money. 

[Seraphim]

Change the topic every time or hang up the phone or walk away. I only listen to my brother who is a licensed financial investment advisor with almost 30 years experience. 

[Kwothe28]

Tell him: "Sorry Dad, I only buy $hitCoins. Wanna buy my "DogeElonMars? "

Joking. Just tell him that you are not interested in Crypto talk nore in buying coins. There is no need to indulge his obsession with crypto trade.

[lostandhurt]

You could try and convince him it isn't for you, you could point out the volatility and scandals in crypto currency lately but it wouldn't help and just start and argument so don't bother.

 I have an idea but it might start and argument as well.

"Dad when Warren Buffett starts buying crypto I will too" "He is a billionaire so he obviously knows a few things about investing" 

 Your father is excited by crypto and wants you to be too which is nice but he is definitely crossing the line with his insistence which I totally understand as I wanted my son to start investing in mutual funds since I have done pretty well overall.  He showed interest but I could tell he wasn't that interested so I planted the seed and let him know when he is ready I would match whatever he invested and then just left it alone.

 Your parents sound like they can afford to take on higher risk investments but you obviously cannot so maybe try and phrase it that way  when he brings it up again.

Lost

[Wiseman2]

1 hour ago, CherryRedOctopus7 said:

 he got loud with me that I should stop shrugging him off and buy these coins because they're going to be "huge." 

He seems lured into this get-rich-quick guru's YouTube channel. That's ok. Don't discuss or debate it. Just keep saying no thanks.

[Lambert]

I think you're doing the best you can.  listen and then do what you want with your money. 

Parents mean well but you can decide for yourself.  I wouldn't let it ruin your relationship but if he starts getting loud and aggressive, handle it. Tell him to stop yelling over this or whatever you do to defuse things. 

I wouldn't want to lecture him.  my personality would be to make a joke like- 'dad don't get upset.  I'm going inherent your coins anyway!'

[Cherylyn]

You have no control over how your father decides to spend his money including your birthday gift.  Sure, it was good of you to tell him that you prefer real money but it could very well fall on deaf ears so don't be surprised. 

You can politely listen but it doesn't mean you have to engage.  Learn to ignore him and tune him out as merely noise. 

I remember years ago,  a man actually gave a lecture in my economics class encouraging students to buy gold coins.  I was skeptical and I'm glad I didn't buy any.  My husband and I've since learned a wise tip from my FIL (father-in-law) regarding what to do with our money and we followed FIL's path.  Best fiduciary decision we've ever made.  ☺️