By David Conti
‘I was fearful,’ a father admits. His son didn’t sugarcoat the risk: ‘You should not be surprised to see 70% drawdown on alt coins and even bitcoin.’
Maybe you taught your children the basics of money management – but with crypto, there’s a lot to take in.
The first filter for a parent should be whether the advice is a product of critical thinking or just cheerleading.
When it comes to advice, parents rarely listen to their kids. But with crypto, it’s a brand-new ballgame.
Jack Marshall started learning about trading and investing at age 17 in Scottsdale, Ariz., when he landed a high-school mentorship with a currency trader. There, a whole new world opened up to him – markets, momentum, ego, emotions – there was a lot to learn.
Throughout college at Arizona State University, Marshall interned at DACFP, a crypto-education company – where he now works as a sales and relationship manager. With technical blockchain knowledge came confidence for Jack – enough confidence to approach his Dad, Keith Marshall, a real-estate agent, with some investing ideas of his own.
But would his father listen to his crypto-enthusiastic son? The elder Marshall is a knowledgeable investor and works with a financial adviser. Sure, he taught his children the basics of money management, but with crypto, there was a lot to take in. He saw how his son was submerged in finance, blockchain, Web 3.0, and AI – and was open to the prospect of placing some “play money” into the cryptosphere.
Jack’s approach: Jack gained Keith’s interest in cryptocurrency investments by presenting a clear thesis and logic behind his recommendations. The conversations highlighted the importance of research, experience and clear communication in making investment decisions.
To get his dad into the crypto game, Jack suggested first linking his bank account to a Coinbase Global (COIN) account, and Keith began dollar-cost averaging into the cryptocurrency Solana. “I was fearful of linking my bank account to Coinbase at first, but with Jack’s guidance, everything has worked out,” Keith says.
The crypto market tanked in 2022 – but Jack took notice of Robinhood Markets (HOOD) and Coinbase during that bear market.
Jack’s pitch: Jack noted that both companies had significant user bases and posited that if there were going to be another bull run, those platforms would be the ones retail traders would go to. By December 2023, Robinhood shares had dropped to $11, and Jack advised buying it for potential gains in a future bull run, which his father did.
Jack’s strategy of investing in bitcoin (BTCUSD) was through ETFs and directly on Coinbase (which also provided exposure to meme coins including dogecoin (DOGEUSD) as a smaller, speculative investment).
But it wasn’t all rosy. “Bitcoin vastly outperformed altcoins in 2025 and SOL had a decent run in 2023-24, which my dad had as well,” Jack says. But it’s no secret that alt or meme coins have generally underperformed. For example, File Coin was $221 a few years ago, but at $2 now. “We learned altcoins are not good investments for us, they’re just too speculative.”
Conversation starters
Tell your kids to pitch crypto to you like they would a business investment opportunity.
Upon reflecting on their father-son conversations over the past two years, Keith says he gained trust in Jack’s guidance and now sees the potential long-term value of cryptocurrencies.
Jack, meanwhile, managed expectations. He started the process with clear warnings: “You should not be surprised to see 70% drawdown on alt coins and even bitcoin.”
So what’s the best way to begin this family money conversation, where adult children share their investing experiences and insights and parents listen and learn?
The first filter for a parent should be whether the advice is a product of critical thinking or just cheerleading, says Eric Croak, a certified financial planner in Toledo, Ohio.
For example, if your adult child can only communicate in acronyms (“SOL is about to ‘moon,’ trust me”), that’s a red flag. But if an adult child can speak to the mechanics of stablecoins, or the implications of transaction costs, or the need for cold storage, that shows a willingness to think things through.
“There is a difference between pro-crypto advocacy and crypto-awareness,” Croak says. “This is where trust becomes an issue. If the family member cannot articulate how the coin works and what the exit strategy is, then they should not be considered an adviser in the first place.”
Tell your kids to pitch crypto to you like they would a business-investment opportunity. That means expected returns, worst-case outcomes, tax treatment if sold within 12 months and what changes the investment thesis. “Have a structured conversation, and that leads to respect,” Croak says.
If your child is pitching a coin because it’s “early” or “Reddit’s into it,” stop the conversation right there. Same if the crypto must be bought “right now.” That type of pressure can erode trust and can lead to a higher risk of scams or unvetted coins.
Croak puts it another way: Conversations with a parent should start with aligned definitions for risk, time horizon and potential outcome. Then introduce the crypto discussion. If the family can’t agree on what “risk” even means, then the crypto talk is premature. But if both sides respect each other’s tolerance and intentions, that is where real education happens.
Generation gap
Young adults often underestimate investing’s volatility and liquidity risk, while their parents, in retirement or approaching it, tend to prioritize wealth preservation and cash flow.
Talking about money, especially with family, doesn’t come naturally to most people. “Generational differences in financial literacy and risk tolerance complicate these family money conversations,” says Chad Cummings, a wealth manager in Naples, Fla.
Cummings explains how young adults often underestimate the volatility and liquidity risk with investments, while their parents, in retirement or approaching it, tend to prioritize wealth preservation and cash flow.
A productive exchange occurs when each side contributes their strength: The adult child demystifies the technology, while their elder emphasizes prudent portfolio management, diversification and asset protection. Without this balance, advice can easily devolve into pressure or misplaced enthusiasm.
Lesson learned: Retirees should be wary of advice accompanied by urgency, promises of guaranteed returns or suggestions to commit large portions of retirement savings. Any proposal that places account control in the adult child’s hands, or that involves referral bonuses or profit sharing, requires heightened caution. “The most prudent next steps are to keep all investment accounts in the retiree’s name, document family discussions to reduce later misunderstandings, and seek independent professional advice before acting,” Cummings says.
It’s obvious that crypto is now in the mainstream. If you have the risk tolerance, an exchange-traded fund from a large financial institution is the simplest entry point – and you’ll never have to worry about maintaining a crypto wallet or losing a passkey. And even if your adult child’s investment thesis passes your test, only commit an amount of money that you can absolutely afford to lose.
David Conti is a financial writer and retirement coach at RetireMentors.
Read next: What Trump’s bitcoin binge really says to Americans about their money
More: This crypto investor correctly predicted bitcoin would hit $120K in 2025. He now expects it to double in the next year.
Also read: ‘I am highly alarmed by the proposed changes to retirement accounts’: I don’t want bitcoin or private equity in my 401(k). What can I do?
-David Conti
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