With the growing buzz around cryptocurrency, it’s easy to feel like you’re missing out if you’re not investing in bitcoin, ethereum and other digital currencies. But personal finance expert Dave Ramsey doesn’t hold back when it comes to crypto hype.

In a recent interview on the “Shawn Ryan Show,” he said too many people are going all-in with speculative assets before building a real financial foundation. That’s not just risky. “That’s stupid,” he said.

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Here are three things Ramsey says you should do before you even think about putting money into crypto.

Before gambling on crypto, Ramsey emphasized that a priority should be securing your retirement. And that starts with contributing to your 401(k), especially if your employer offers a match. In fact, while 70% of Americans contribute to a 401(k), only 47% of Gen Zers say they save in a retirement plan, according to Empower.

Too many people delay investing in retirement in favor of digital assets. But Ramsey argued that crypto isn’t an investment at all. It’s speculation. “What happens with people with gold or crypto … They confuse the concepts of speculating versus investing,” Ramsey said. “The only thing you can do in crypto is to speculate … Speculating is a short-term play.”

So if you’re investing in crypto but not contributing to your 401(k) and other retirement accounts, you may want to reconsider.

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Ramsey also highlighted not investing in mutual funds in favor of crypto as a mistake. He recommended building a portfolio that grows your wealth over time, not just one that fluctuates in value based on hype.

“What [Warren] Buffett talks about is true. I want an investment that is creating wealth, not changing in price,” Ramsey explained. “When Home Depot stock goes up or Apple stock goes up, it’s because they made a profit … There was wealth created. When crypto goes up or gold goes up, it’s just because somebody else wanted it more. It’s not creating anything.”

Ramsey also mentioned the mistake of not buying a home in favor of buying crypto. For many Americans, homeownership is one of the most reliable ways to build wealth over time. According to Forbes, homeownership provides tax benefits and protects against inflation while allowing you to build equity.

“They’re not buying a house. Instead, they’re putting 100% of everything they have in the middle of the roulette wheel, and that’s stupid. That’s just ridiculous,” he said.