Don’t Repeat the Mistakes of the Dot-Com Boom

More than 20 years ago, online currencies already caused a craze…

In the late 1990s, investors flocked to two seemingly ahead-of-the-game dot-com companies – Flooz and Beenz.

For those who may not remember, these were new “online currencies” that attempted to become an alternative to credit cards for spending money on the Internet.

They weren’t backed by a government or any underlying asset. Instead, they relied on high-profile ad campaigns… Flooz chose Whoopi Goldberg, while Beenz hired “reverse pickpockets” to slip their promotional flyers into folks’ pockets.

Flooz.com raised $35 million from investors, while Beenz raised nearly $100 million. They didn’t have any earnings or really even a product, just the hope that people would let them handle their transactions rather than use credit cards.

Of course, anyone who held on to their Floozes or Beenz for long found out they were worthless. Both companies were short-lived. Flooz blew through its capital and closed down within about two years. Beenz survived about three years. So it’s understandable if you’ve never heard of them.

The Internet boom that ended in 2000 is a litany of stories like Flooz and Beenz. At the time, investors piled into anything with a “.com” at the end of the company name, with no regard for profits. Of course, many of these companies evaporated into bankruptcy.

It reminds us of today’s cryptocurrency world. Over the past decade, experts claim more than 2,000 cryptocurrencies have failed, leaving investors with nothing. And with about 10,000 different cryptos available, that seems like a high rate of failure.

But folks love cryptos. Even though I’ve never formally recommended any before, I regularly receive e-mails from readers asking where they can put their money to work. Well, here’s how you can get started…

This past Wednesday, our in-house crypto expert Eric Wade revealed the next big catalyst for the crypto market.

According to Eric, it’s happening in a matter of weeks and, if you miss it, you might not ever see an opportunity this good again. He also discussed the six coins he says you need to be invested in today… and even gave away the name of one.

Eric’s crypto update is entirely free – no strings attached. And he’s the person I’d trust to tell me whether a cryptocurrency is the next bitcoin or the next Flooz. If you haven’t watched his update yet, click here to catch up.

Now, let’s get into this week’s Q&A… As always, please keep sending your questions and comments to [email protected].

Q: Hi, I’m a member of Retirement Millionaire and read Thomas Carroll’s article on Medicare Advantage care. I agree paying for health care is a big concern in retirement. You provided good information on how to manage out-of-pocket expenses once age 65 and on Medicare. Do you have any recommendation on how to manage or keep costs low for those who retire early in good health and before Medicare eligibility begins? I’d love to hear from the more experienced out there. Kind regards. – R.O.

A: The most important thing you can do to keep your health care costs low is walk for 30 minutes every day in the afternoon sun. Walking is a low-impact exercise that has amazing benefits for your physical and mental health. Studies show walking outdoors can:

  • Improve your cardiovascular health
  • Strengthen your bones
  • Help you lose weight
  • Boost your immune system
  • Increase your energy levels
  • Lower your levels of the stress hormone cortisol
  • Help you sleep better
  • Elevate your mood
  • Improve your cognitive abilities
  • Increase your sex drive

And soaking up that afternoon sun allows you to absorb vitamin D, which:

  • Supports your immune system
  • Regulates your serotonin levels to improve your mood
  • Regulates your melatonin levels to help you sleep
  • Allows your body to absorb calcium

So keeping yourself healthy is a lot easier than it seems. All you need to do is walk. And if you need some extra motivation, have a friend join you.

Q: What’s the best type of bottle to replace my plastic water bottle? – M.L.

A: You have two main choices: glass or steel.

I’ve seen folks around the office use glass bottles. Many of them are wrapped in silicone sleeves to help prevent the glass from shattering, but there is still a risk of the glass breaking.

That’s why I personally prefer using steel. Some folks claim that steel gives the water an almost metallic taste, but you don’t have to worry about the bottle shattering if you drop it. One of my researchers has a Klean Kanteen that she has used for more than five years. It’s dented, and its outer colored coating has mostly fallen off, but it’s still working just fine.

What We’re Reading

Here’s to our health, wealth, and a great retirement,

Dr. David Eifrig and the Health & Wealth Bulletin Research Team
November 19, 2021