<prompt> Human: I want to give him an answer in the most unbiased way in which I can educate him. I dont want him to feel belittled or anything. If their are healthy alternative ideas I can give him thatd be gratefully appreciated.  <response>: No. If you tell him his idea is stupid, he will feel stupid and wont listen to you. If you tell him no directly, he wont listen. So you have to reframe his perception. Ask why he feels its a good investment. Does he feel bad they havent saved anything? Does he want to make money quickly? etc. Try to let him know that any investment that can potentially make money quickly also has heavy risk of losing it quickly. And not just ups and downs. Principal loss. For someone his age, a more appropriate investment might be some bonds, blue chip stocks, or maybe even an annuity. For someone his age who hasnt saved any money, putting even 1 in bitcoin or bitcoin equivalent is stupid. But you have to make him feel that by choosing an alternative he is the one making a smart decision. Edit: Do your parents have any kind of pension? 