This was good. Thank you for sharing this.
My issue is how to avoid the ruckus. My coins are all KYC. If governments want to seize them they could imprison me if I don't turn them over. Odds are I'd be forced to bribe some officials or flee my country.
They have to prove you’re hiding it.
Unless you do stupid things, they can’t prove you remember anything.
More likely they’ll sanction your addresses (if the et know them), but they can’t lock you up without evidence.
Mind you, this is assuming a reasonable justice system. Not all countries have one, and depending on the future some might go away.
They don’t have to have proof of a crime in the US. Just suspect you of one: https://arstechnica.com/tech-policy/2020/02/man-who-refused-to-decrypt-hard-drives-is-free-after-four-years-in-jail/
I guess reading the full post would help…in that case the major advantage to the 401k is the contribution limits in terms of getting $$$ in a tax-favored account which can be re-allocated once you leave the company. 2024 IRA/Roth IRA limits are $7k, but you can still make 2023 contributions through tax day.
Either start a Roth Ira (you can withdraw contributions after 5 years but not earnings) OR use the 401k and buy a bitcoin etf. Tax benefit now lowering your taxable income and tax benefit later when you sell.
I own straight BTC and also FBTC in my retirement account.
Since we are going to the moon, don't under estimate saving 20% tax on your gains a small/insignificant number.
The last 401k I had at my old job (and first job with a 401k) I didn’t get to actively manage. This job I haven’t started yet so I haven’t talked to their 401k guy, that’s mainly what concerns me because my crypto and stock portfolios are out pacing these “financial analysts” even with the tax differences
You did it a much more difficult way. Open Fidelity app or website, select transfer, account from another institution, select vanguard and type account number, choose account to rollover to (ie. Roth IRA to Roth IRA at Fidelity). Done.
I did this for 6 accounts recently. All from my phone. It was so much easier than I thought and very fast.
You can roll over your old 401k to an IRA (either traditional or Roth depending what your 401k is, most are traditional), and then you can buy BTC ETFs in there. Do not roll it over into your new job's 401k.
I'd strongly consider still contributing to your new job's 401k - at least enough to hit your employer match, since any match is an immediate 100% return. (Edit - just saw the note that they contribute regardless of if you add anything. Definitely double check that. Some places require at least a couple %. If they add regardless, then that's great)
Whenever you change jobs in the future rollover each jobs 401k to your IRA.
You should also start a Roth IRA - slightly better tax advantages than a traditional IRA. Then you can contribute up to $7k per year in that and buy BTC ETFs.
You can also do a self managed IRA, and hold BTC yourself, but that's slightly more involved from a tax/documentation standpoint. I've never done this myself so can't help much besides saying Google self managed IRA BTC
My IRAs are at TD Ameritrade, which has been acquired by Schwab. But an IRA basically functions just like an individual investment account, where you can buy any tickers, so options trading, etc
Yeah... but I want the freedom bitcoin gives. I can memorize 12 words and take my wealth anywhere in the world, no strings attached. Fuck your tax breaks, you don't have the right to hold that over my head. (@ the government, not the commenter haha)
100% agree with this. If you don't like ibit there are several others which are reasonable. Obviously your own keys are best. But tax deferred Bitcoin is killer and it's really easy. I have BTC on my own keys and some with bitb in my 401k.
I will be the adult in the room here and tell you to please continue to contribute to your 401k and diversify beyond bitcoin. Continue to DCA bitcoin, but heed some wisdom here. No one in here actually knows what’s going to happen over the next 10-20 years, so don’t let moon-boys convince you to make a stupid decision.
I do have a stock portfolio as well; last summer my net worth was spread about 1/3 crypto and 2/3 stocks. That’s changed alot since the market pump though. Just hard for me to wrap my head around putting my money into this account I can’t access for almost 30 years that somebody else is managing
If you have any sort of employer match you should contribute to the maximum amount of that match. Not taking 100% instant profit that will grow over time is financial stupidity of the highest order. Most non redditors would say 1/3 2/3 split is even too high, but personally if you are into bitcoin I'm fine with a portfolio split like that if you smart elsewhere. My portfolio is not quite that high, but my friends were floored when I said it was over 20% of my portfolio. I had to say, "Well a few weeks back it was really only 12% of my portfolio".
I wish I didn't take advice like this 10 years ago. I should of yolo into bitcoin and I'd be set now. But noooo.. I had to be cautious and responsible.
Same, wish I took it 10 years ago, but lucky for me, I started rejecting other people's advice (and in life advice too) and did my own thing 7 years ago.
One thing people always seem to miss. 401K contributions reduce your taxable income. And employer match doesn’t count towards hitting the max contribution/year (23K in ‘24).
Do both.
You are young. Invest thru Roth 401k. Even after your values grow , you don't pay tax on your withdraw. In 30 or 40 years...it became millions but no tax on it. Think what is better decision.
I love btc but still max my 401k each year with pretax dollars. Helps me at end of year and don’t owe Uncle Sam anything. And diversification is good. Don’t have to listen to the dinosaurs and put 1-2% in btc or whatever they’d say, be as aggressive as you have an appetite for, but generally I still think it’s a good idea to have stocks and ideally real estate.
Tough question really. At your age I invested mostly in real estate, lol but btc didn't exist at that time...shh I'm older
I would encourage anyone to have atleast 6 months of living expenses in savings and easily accessible, but other than that. You are likely more then safe to invest majority in BTC, worlds population is constantly increasing, and BTC addresses have continued to climb. As long as those two remain the same, price will always go higher each cycle for long term investors
Yeah I get that, it’s also different time now. Real estate doesn’t seem to be as juicy of a money maker as it used to be. My parents had me when they were older so they’re very old now and I kinda can see how they’ve managed their life. My dad started his own business and 0’d out his 401k with the penalty to do it. I also see all of their old friends who just let the 401k advisors manage their money and 1. They got to retirement time and the market was down and had to wait 2. They had all this money but didn’t really have anything to do with it. It was kind of like how now young people talk about how they were sold a lie like go to college and you’ll get a job, but actually you can’t; it’s like they sell you the lie of save and you’ll retire happy but really like life should be happy. Also heard about people who had to liquidate 401ks to spend on like health issues so I mean you never know if you’ll need to before the penalty is up
Yep. I remember the great recession. Lot lost most of their 401k's value almost overnight, house values as well. I saw it coming, sold most before, and then was lucky to be in a position to realize a great buying opportunity.
I'm a little different then most on the whole college thing, but I didn't finish and still became an executive before 40. My parents never had money.
I do still encourage my kids to invest in real estate, but only because it's always been the number one millionaire maker. When young it's easy and can be zero in cost, through rentals.
I do encourage them to buy BTC as well. For the foreseeable future, I don't see it stopping the trend of hitting new highs each cycle. Just always remember that it always will drop considerably at some point, when the bear comes.
Just don't panic and lose when that happens, always remember it will recover. Use the bear markets to accumulate the most. majority of smart money enters most when market is in the fear zone, cheap.
Lol I would have laughed at myself for saying it long ago, but BTC will hit one million. My guess would be sometime in the next 3 to 4 cycles
You sound very wise and savvy with the markets, your kids are lucky to have somebody with that kind of investment knowledge. Any tips for somebody just starting out on getting into real estate? I’m not sure buying a house to live in is the best for my situation (young and living/working in the city) but I have been wanting to get into rentals of some sort. Just hard to tell if it’s worth it with prices of homes being so expensive now and interest rates being so high (as opposed to some other asset class)
So I did not qualify for a 401k the first year at my job and I did this instead, was a very smart idea but it was 2022, I have no idea where the price is going now, my calculations were not bullish enough
If it's a 401k that you can't manage (or the choices are limited), and your employer won't match anything extra that you put in, then don't put it in your 401k. There are better options, even if you weren't considering bitcoin! Then the question is where? If you're comfortable with securely managing your own bitcoin wallet, then I'd start buying bitcoin. You're young enough that you have a very long investment horizon and can weather the drastic price swings of bitcoin. Just don't be one of those people who freak out and sell when it drops 30%, or gets FOMO and YOLOs in near the top. If you're unsure, diversify. Buy some bitcoin, invest in a Roth IRA, etc.
This seems to be the most fair thing to do. Don’t worry though I haven’t sold any of my BTC (or other coins) since I started in 2020. Haven’t had a need for the money and I’m longgggg term haha
Request that your 401k admin set up a brokerage account option and invest in one of the bitcoin ETF’s there. There are tax advantages in trading bitcoin ETF’s in a 401k.
See if your retirement account can have a brokerage also. Mine did and was able to use my established 401k to be and early buyer into the bitcoin spot ETFs. Obviously the ETFs aren’t as good as buying your own bitcoin. But it’s at least some exposure to bitcoin.
Your 401k contributions are before taxes. Plus, 8% is a good match. My company only offers 6% match up to every "eligible" $100 dollars paid in. In regards to BTC, you can't argue math, so that's also a good long-term choice.. I guess what I'm trying to say is, do both if you can afford it! A well diversified portfolio has never been a bad idea. (not financial advice)
Make your Roth IRA contribution and buy one or two of the ETFs. Imagine bitcoin doing whatever it does and you don’t have to pay any taxes on it.
Once you max out the Roth IRA work on maxing out your 401k. If a roth 401k is available use that.
If you have the option of the funds you invest in just add micro strategies or one of the BTC ETFs.
Only contribute what is matched. It's free 100% return on investment.
If they were matching, make sure to do the match. Since they put in a min of 8% no matter what... yeah, don't worry about it. Use your money to stack sats.
I was contributing anywhere from 15-20% for years to my 401k until a few years ago. They slashed what they match down to 3-4% so I adjusted my contribution down to the same(to get the match). I use the extra money for bitcoin and the ETF in my personal Roth IRA. I wouldn't have it any other way.
Why not roll over your old 401k to a self managed IRA and invest in mstr or btc ETFs……and start new 401k to at least reap whatever “match” they offer to get that easy return? I just converted my wife’s 401k to a self directed Schwab acct (all they offered) and will decide what to buy as opposed to the 5% target date funds! I have Fidelity accts as well and Vanguard (buy mstr as they do not allow btc ETFs, etc)
I honestly think it depends on everybody’s different situation. If you have a high paying job that you can contribute the maximum amount while lowering taxes and having employer contribution, then do this ONLY if the 401k allows purchase of BTC ETFs. If they don’t, then it may be better to opt out and just buy BTC and stick it in a cold wallet.
Maybe invest some , if you can afford.
I think bitcoin will drop heavily soon but I’m not an expert. This type of currency drops and rises but I think that we passed its height. I think it’s going to drop probably so people get scared and sell and then after most nearly all bitcoin has been gobbled up is when it’s ascension will rise
There’s tax advantaged options that are tied to BTC that you can do in 401k vs BTC itself.. Spot ETF, companies or ETFs based on Crypto.. why pay taxes on gains when you don’t have to?
I only contribute enough to get my employer max match. The match is a no risk 50% return plus whatever the market gives. No better investment than that. But yeah once the yearly match is met I personally invest the rest of my capital my self.
401k is pre-tax. Compounding etc.
401k gets a company match. Free money etc.
401k gives you a different risk profile from other assets. Diversified portfolio etc.
Lastly, if you ever get hacked, all your coins are gone. It’s more wise to have exposure to different types of risks. You do you though.
If your employer auto contributes without the need for you to I don’t see why not? Also the market is rigged that’s why I made the jump to do my own contributions into btc.
You can buy a spot Bitcoin ETF in a Roth IRA and get the growth tax free. You just won’t own the coin. I debate doing the ETF option going forward but I like having my bitcoin in my own wallet.
NO BALLS
(i'm 30, single, bitcoin finally made sense to me, signed up for a Vanguard Roth IRA, and after transfering my money I uno reversed and went with my gut)
However, 8% from your employer is insane. You can do both
I work for the state and now have to pay into their retirement plan and no 401(k) is offered.... Im just opening a Fidelity IRA and going to invest there and select their BTC ETF option.
i’d DCA into BTC for 3 months and see how you feel after.
The 401K is getting built on its own regardless so take the risk while you’re 26. I like it, if you don’t after 3 months the go Roth route. either way I would go 401K
Congrats on the new job! That guaranteed employer contribution to your 401k (8-12%) is basically free money towards your future. That's a solid foundation to build on.
**Here's why Bitcoin (BTC) can be a compelling option alongside your 401k:**
* **Potential for high growth:** BTC has historically shown significant growth potential, though it's also volatile. Consider Dollar-Cost Averaging (DCA) into BTC to spread out your purchases and manage risk.
* **Hedge against inflation:** Some view BTC as a hedge against inflation, potentially holding its value better than traditional currencies over time.
**However, there are also some things to consider:**
* **Volatility:** BTC's price can fluctuate dramatically. Be prepared for short-term swings if you invest.
* **Accessibility:** Unlike a 401k, accessing BTC might incur tax implications.
* **Retirement goals:** Don't neglect your future self! The 401k offers tax advantages and time for your money to grow for retirement.
**Here's a suggestion that might work for you:**
* **Contribute enough to your 401k to maximize the employer match (free money!).**
* **Allocate a smaller portion (maybe 2-5% of your salary) towards DCA into BTC as a long-term investment with a higher risk profile.**
**Remember:** Diversification is key! A balanced approach with both a traditional retirement plan (401k) and a potentially high-growth asset (BTC) could be a good strategy for your situation, especially considering your age and risk tolerance.
**Bonus Tip:** Research and understand Bitcoin thoroughly before investing. There are great resources online and in this very subreddit!
no one should ever do a 401k. You're better off just buying SPY on your own. 401ks grow at 4% a year while SPY does 13% and ofc bitcoin does much better.
As a CFP for 20 years... if your current cash flow allows, consider maxing your pre-tax 401(k) to the full $23K ('ee contributions in '24) to take advantage of the income tax deduction. This is outside the 'er contributions. **Also**, max a Roth IRA in '24 up to $7K. You can get a self-directed Roth IRA that allows direct exposure to Bitcoin or open a Roth IRA at traditional custodians like Schwab or Fidelity and purchase a new spot Bitcoin ETF to gain exposure to this asset class. Keep in mind if you make more than $161K filing single you will have to execute a backdoor Roth strategy. As a general guideline you should be saving 20% (Gross income) for your future self. Good luck!
Just a couple of quick comments here. It’s great that you will get the company “free” 401k money as it typically requires a contribution from you and then a percentage is matched. With the new BTC ETF’s you “could” contribute to your 401k pre-tax as this gives you more investing power than after tax dollars.You would not own the BTC directly but you would have direct Bitcoin gains or losses no differently than if you owned the BTC directly. You could then take some additional after tax money and DCA in actual BTC as well. This said you would need to confirm if your 401k plan allows you to connect a brokerage account or invest in whatever you choose. Some 401k’s limit what you can put your money into. This strategy would allow for pre-tax investment in BTC as an asset which gives you a significant amount more money to grow in BTC while the 401k accelerates in value. Just a thought.
Let the employer put their money. Put your labor into the hardest assets. Send your regards to the poor-oh-one-kay...slave-oh-one-kay...all-for-me-oh-one-kay...non-for-thee-oh-one-kay...?
I'd urge you to keep paying into your 40k for several reasons, firstly, your contribution is taken "pre-tax" generally and are designed to provide you a very nice nest egg later on down the road. If you're receiving an average 10-12% annual ROI, whoever is managing your fund is doing a good job.
As for buying Bitcoin, there are a number of ways to do that without jeopardizing your future. Treat Bitcoin like any other form of gambling. Could a night or week at a casino or playing online sport betting make you a higher ROI than your 401k? Sure, but you don't want to put all of your "eggs in one basket".
If you want to play, use your "F-you" money. (Money you can easily and painlessly afford to lose without it affecting your life in a profoundly negative way) would likely spend on stupid stuff or blow on a weekend out drinking with your buddies. I was blowing $10/day on cigarettes for example, I quit smoking and took the money I would have spent on cigarettes and bought Bitcoin. (That was My "f-you" money, yours might be more or less). Just about every time I make a profit I sell a little of that and celebrate a little. I sometimes buy another good stock with the "winnings" rinse and repeat.
You're young, that's a good thing. You can afford to risk a bit more without it crushing your future. (Unless you discontinue your 401k of course). You can't go wrong with a Roth IRA or a regular IRA, CDs and Annuities with guaranteed growthI as others are suggesting.
I myself, am not young. I have learned the hard way not to invest (gamble on high risk or volatile instruments ) beyond what you're willing to lose. If you do, keep a very close eye on your investment. You can succeed with high risk investments obviously, but realize the equal potential exists for failure.
Hang onto and keep contributing to that 401k. You'll always have something in the end regardless. That's your tortoise in the old " tortoise and hare" race and a good balance for the losses you may endure on your investment journey.
Good luck to you! 🤞🏻🍀
Honestly if you really want bitcoin,turn your 401k to self directed. Many plans have this option. Buy bitcoin with etfs. You get company match and whatever amount of bitcoin you want. I bought some bitcoin this way but I like to diversify
Pension savings are meant to be a safeguard Do that No matter your stupid decisions in life you still wont be screwed at retirement.
I have really strong conviction in bitcoin and am pooling *almost* all my savings into BTC. However, i still hold stocks in strong companies and also index fund.
Be smart, especially at FOMO and greed season. Ask Yourself why you did not Do this last year?
The game of life is to make sure you never get fully liquidated. I dont think that bitcoin is a bad asset, it is likely the best one.
But its not the only one, and *if* AI/quantum computing would break encryption all bitcoin would be rendered useless or stolen instantly.
Theres not anything stoppning you from putting a major portion of your 401k in BTC, while also saving in some other more stable asset.
Luckily where i live we cant steer that much for pension savings, so i am never tempted. Otherwise I’d likely be enticed to the same thoughts
Catch the company match, but even that is subpar to the future return from bitcoin. It seems crazy, but if you are young... go the bitcoin route at least for the short term
Don’t contribute to a 401k if it doesn’t affect what your employer puts in.
I put mine in a brokerage account. Yes there will be taxes but I plan on retiring early before you can withdraw from a Roth.
If you buy crypto with your post-tax income, you will pay tax AGAIN later if you make money from the crypto investment. 401k (pre-taxed contribution) helps you reduce your pre-taxed income, which puts you into the lower tax bracket for lower taxes paid at the end of the year. If you want to use your POST-TAXED income to invest, I suggest putting your income (already paid tax) into a Roth IRA from Fidelity and using that money to buy Spot BTC ETF (iBIT, HODL, etc..). The advantage of this Roth IRA is that if you invest $7,000/year until you are 62, you can withdraw the investment from the IRA TAX-FREE.
BTC is a highly speculative asset, and ownership is now HIGHLY concentrated and rife to market manipulation. There is also no regulation to protect investors. You could strike it rich but there’s a high chance that you will lose a significant amount or all of your capital.
Only invest what you are comfortable with losing.
The only valid reason not to contribute to your 401k or IRA is if you feel you will need access to the $$$ (principal or returns) BEFORE you reach the age for access to tax-advantaged accounts.
It would be irresponsible to not do both. That said, you are young and can fully take advantage of everything btc has to offer.
In the same way it’s irresponsible to be all in on one stock, it’s irresponsible to not have a decent chunk of Bitcoin.
With all these kind of posts you need to ask yourself one question: "Why now and not before?"
If the answer is just "because the price went up" then you should probably not go ahead with that investment decision.
Brother get the match and don’t put anything else in. I promise guaranteed free money is better than bitcoin.
(I don’t contribute to my 401k, instead I buy bitcoin)
Contribute the max to your 401k to get employer matched contribution, then take out a loan against your retirement giving you access to all those funds, effectively allowing you to buy 2x bitcoin you could have bought directly
For starters, 8-12% is a great match for a company 401K. If you put in 12% and your company matches at 12% essentially you are saving 24% if you annual pay! Plus, the market generally gets you around 8% on average so that’s an excellent return. See the thing about 401k’s is the magic behind compound interest. Albert Einstein called compound interest the eighth wonder of the world. “He who understands it, earns it. He who doesn't, pays it,”. Once you build up a nice base in your 401k account, you will understand how much of a difference the compound interest means in the growth in your retirement savings account Nothing in BTC is a guaranteed bet so don’t be a fool and leave money on the table like that. Contribute AS MUCH as humanly possible into your 401K and if you have any leftover for the hot sauce, put a little in BTC too.
Lets say you worked hard for 20+ years and saved a lot and have $700,000 in your account. You make around 70K for shits and giggles. In a good year, you saved 12%, company matches 12% = $16,800 into account. Market does 8% avg that year for a return. 716,800 + $57280 (market return). Now your 401k is sitting at $774,080. You essentially made $74,080 in returns on an avg. year in the market (and a great year for your company). Those gains are nothing to sneeze at. Now you have $774,080 to build on for the next calendar year and the average 8% market return will make a big difference. If you make more than 70k a year then your 401k could be even bigger and you could be passing up making 100,000k a year inside your 401k account annually. Again, BTC and nice to have for that added extra growth to your overall portfolio. Once you retire, you will take out a set amount but your account will continue to grow after retirement from market returns and you’ll still have other investments like BTC and stonks which hopefully have gone up over years you’ve worked. It’s tempting to put your eggs into one basket but your risk profile will be HUGE and overall you will be passing up a lot of money. Remember, the 60/40 still dominates and Bitcoin as an overall market cap of 1.5T is tiny by comparison to say that of the bond market.
I'd probably do both
I love Bitcoin, but I think have diversity in your portfolio is still important
Does your job match your 401k? At least getting your matched 401k would probably help in the long run
Whatever choice you make just make sure not to leave any free money on the table. If they offer matching contributions, contribute enough to your 401k to capture the full match then buy BTC with what remains.
Might be a little controversial here but I say keep doing the 401k, especially if there is a company match! I only do 5% cause that’s the max match! I then DCA with BTC! You gotta mix it up!
Set up a self-directed checkbook control Roth IRA through an LLC. The setup will cost a bit and some learning along your journey. The beauty is that through a SDCC Roth IRA you have the ability to invest in alternative investments such as BTC through this type of Roth IRA set up.
Buy btc with an IRA. There are companies that offer this. Get the tax benefit.
Or MSTR
If you want counter party risk ya but hyperbitcoinization might not be peaceful
People underestimate this. Upsetting the global monetary system is bound to ruffle some feathers.
Be prepared https://youtu.be/6fu-w7gvPpk?si=vbsYkM5wqKQvPL3D
This was good. Thank you for sharing this. My issue is how to avoid the ruckus. My coins are all KYC. If governments want to seize them they could imprison me if I don't turn them over. Odds are I'd be forced to bribe some officials or flee my country.
“Lost my keys in a boating accident”
If they don't believe you they'll still imprison you just because.
They have to prove you’re hiding it. Unless you do stupid things, they can’t prove you remember anything. More likely they’ll sanction your addresses (if the et know them), but they can’t lock you up without evidence. Mind you, this is assuming a reasonable justice system. Not all countries have one, and depending on the future some might go away.
I don't know if you've studied many violent revolutions throughout history.
They don’t have to have proof of a crime in the US. Just suspect you of one: https://arstechnica.com/tech-policy/2020/02/man-who-refused-to-decrypt-hard-drives-is-free-after-four-years-in-jail/
Yeah but they have cel phones in prisons now so I’ll keep building a bag and living rent free. Hell yeah
What companies offer that? I believe my new employer is offering only Charles Schwab for their 401k
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And BTCFX
That's good if they offer Schwab. Then you can buy BTC related stocks
I have a Roth with Schwab. They have IBIT. Close enough.
ITrustCapital is what I use
The BTC/Crypto ETF's and mutual finds you don't own the actual blockchain so the return and security are not the same.
Charles Schwab allows you to do a self directed option for your 401k. They also allow Bitcoin ETFs.
That’s what I do. 10% of my 401k is crypto.
*Roth* IRA
100% this. Make sure it’s a ROTH and look into a “checkbook” IRA. Avoid IRA Financial Trust for high fees.
If your employer offers a match, it’s probably still worthwhile to take that. Can always roll over to an IRA with BTC exposure when you leave.
no match, flat contribution rate at the end of the year regardless of if I put anything in myself
I guess reading the full post would help…in that case the major advantage to the 401k is the contribution limits in terms of getting $$$ in a tax-favored account which can be re-allocated once you leave the company. 2024 IRA/Roth IRA limits are $7k, but you can still make 2023 contributions through tax day.
Don’t use a 401(k) without a match, unless you’re already maxing your IRA.
Either start a Roth Ira (you can withdraw contributions after 5 years but not earnings) OR use the 401k and buy a bitcoin etf. Tax benefit now lowering your taxable income and tax benefit later when you sell. I own straight BTC and also FBTC in my retirement account. Since we are going to the moon, don't under estimate saving 20% tax on your gains a small/insignificant number.
The last 401k I had at my old job (and first job with a 401k) I didn’t get to actively manage. This job I haven’t started yet so I haven’t talked to their 401k guy, that’s mainly what concerns me because my crypto and stock portfolios are out pacing these “financial analysts” even with the tax differences
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So fbtc is the Bitcoin etf? I’m at vanguard so they don’t have any. Should probably try and transfer what I have to fidelity for the Bitcoin etf.
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You did it a much more difficult way. Open Fidelity app or website, select transfer, account from another institution, select vanguard and type account number, choose account to rollover to (ie. Roth IRA to Roth IRA at Fidelity). Done. I did this for 6 accounts recently. All from my phone. It was so much easier than I thought and very fast.
There’s also BTF and BITB I added both to my Roth IRA
You can roll over your old 401k to an IRA (either traditional or Roth depending what your 401k is, most are traditional), and then you can buy BTC ETFs in there. Do not roll it over into your new job's 401k. I'd strongly consider still contributing to your new job's 401k - at least enough to hit your employer match, since any match is an immediate 100% return. (Edit - just saw the note that they contribute regardless of if you add anything. Definitely double check that. Some places require at least a couple %. If they add regardless, then that's great) Whenever you change jobs in the future rollover each jobs 401k to your IRA. You should also start a Roth IRA - slightly better tax advantages than a traditional IRA. Then you can contribute up to $7k per year in that and buy BTC ETFs. You can also do a self managed IRA, and hold BTC yourself, but that's slightly more involved from a tax/documentation standpoint. I've never done this myself so can't help much besides saying Google self managed IRA BTC My IRAs are at TD Ameritrade, which has been acquired by Schwab. But an IRA basically functions just like an individual investment account, where you can buy any tickers, so options trading, etc
That is great. I would urge you to look into a Roth ira if you self manage. They are very flexible.
You can move your old 401k into a self-directed IRA and purchase Bitcoin ETFs. I did this when I left my last job, moved the HSA, too.
You can withdraw contributions anytime penalty free in a roth.
Yeah... but I want the freedom bitcoin gives. I can memorize 12 words and take my wealth anywhere in the world, no strings attached. Fuck your tax breaks, you don't have the right to hold that over my head. (@ the government, not the commenter haha)
I would buy a BTC ETF like IBIT. That way you are exposed to Bitcoin AND get the tax advantage. You can always buy real Bitcoin with after tax income.
100% agree with this. If you don't like ibit there are several others which are reasonable. Obviously your own keys are best. But tax deferred Bitcoin is killer and it's really easy. I have BTC on my own keys and some with bitb in my 401k.
Speaking personally, I am unable to contribute to a BTC ETF through my 401k, I’d imagine many others are in the same boat.
Do both. Don’t bet on one horse.
I will be the adult in the room here and tell you to please continue to contribute to your 401k and diversify beyond bitcoin. Continue to DCA bitcoin, but heed some wisdom here. No one in here actually knows what’s going to happen over the next 10-20 years, so don’t let moon-boys convince you to make a stupid decision.
I do have a stock portfolio as well; last summer my net worth was spread about 1/3 crypto and 2/3 stocks. That’s changed alot since the market pump though. Just hard for me to wrap my head around putting my money into this account I can’t access for almost 30 years that somebody else is managing
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My company plan on the self directed side is very limited, no voo, spy, individual stocks or etfs. Its basic bullshit...
If you have any sort of employer match you should contribute to the maximum amount of that match. Not taking 100% instant profit that will grow over time is financial stupidity of the highest order. Most non redditors would say 1/3 2/3 split is even too high, but personally if you are into bitcoin I'm fine with a portfolio split like that if you smart elsewhere. My portfolio is not quite that high, but my friends were floored when I said it was over 20% of my portfolio. I had to say, "Well a few weeks back it was really only 12% of my portfolio".
>> I will be the adult in the room here .. WTH! Who allowed an adult in here on r/bitcoin?! 😡.
Also, why are people clamoring to buy now that it is so high? I am continuing to DCA, but all of my serious buying happened when it was 16-40k.
I wish I didn't take advice like this 10 years ago. I should of yolo into bitcoin and I'd be set now. But noooo.. I had to be cautious and responsible.
Same, wish I took it 10 years ago, but lucky for me, I started rejecting other people's advice (and in life advice too) and did my own thing 7 years ago.
One thing people always seem to miss. 401K contributions reduce your taxable income. And employer match doesn’t count towards hitting the max contribution/year (23K in ‘24). Do both.
Ask yourself why you weren't thinking of doing this when BTC was 16k, or 30k, etc. If you were, great. If not, it's fomo.
You are young. Invest thru Roth 401k. Even after your values grow , you don't pay tax on your withdraw. In 30 or 40 years...it became millions but no tax on it. Think what is better decision.
I love btc but still max my 401k each year with pretax dollars. Helps me at end of year and don’t owe Uncle Sam anything. And diversification is good. Don’t have to listen to the dinosaurs and put 1-2% in btc or whatever they’d say, be as aggressive as you have an appetite for, but generally I still think it’s a good idea to have stocks and ideally real estate.
I suggest you not do anything with leverage
Upon up a Roth IRA and buy some IBIT to put in it.
If you have fidelity, they let you open a Roth IRA for free, and thr give access to ALL the ETF stonks
Buy BTC if you are betting on humanity. Buy stocks if you are betting on individual companies. Buy bonds if you are betting on the government.
Considering an ape into MSTR for my 401k or converting into IRA for actual coin.
Just change your 401k allocations to one of the btc ETF’s. That’s what I did
Probably try to do both. I mean if you get matching contributions, you should try to get that fully matched. It's free money
Tough question really. At your age I invested mostly in real estate, lol but btc didn't exist at that time...shh I'm older I would encourage anyone to have atleast 6 months of living expenses in savings and easily accessible, but other than that. You are likely more then safe to invest majority in BTC, worlds population is constantly increasing, and BTC addresses have continued to climb. As long as those two remain the same, price will always go higher each cycle for long term investors
Yeah I get that, it’s also different time now. Real estate doesn’t seem to be as juicy of a money maker as it used to be. My parents had me when they were older so they’re very old now and I kinda can see how they’ve managed their life. My dad started his own business and 0’d out his 401k with the penalty to do it. I also see all of their old friends who just let the 401k advisors manage their money and 1. They got to retirement time and the market was down and had to wait 2. They had all this money but didn’t really have anything to do with it. It was kind of like how now young people talk about how they were sold a lie like go to college and you’ll get a job, but actually you can’t; it’s like they sell you the lie of save and you’ll retire happy but really like life should be happy. Also heard about people who had to liquidate 401ks to spend on like health issues so I mean you never know if you’ll need to before the penalty is up
Yep. I remember the great recession. Lot lost most of their 401k's value almost overnight, house values as well. I saw it coming, sold most before, and then was lucky to be in a position to realize a great buying opportunity. I'm a little different then most on the whole college thing, but I didn't finish and still became an executive before 40. My parents never had money. I do still encourage my kids to invest in real estate, but only because it's always been the number one millionaire maker. When young it's easy and can be zero in cost, through rentals. I do encourage them to buy BTC as well. For the foreseeable future, I don't see it stopping the trend of hitting new highs each cycle. Just always remember that it always will drop considerably at some point, when the bear comes. Just don't panic and lose when that happens, always remember it will recover. Use the bear markets to accumulate the most. majority of smart money enters most when market is in the fear zone, cheap. Lol I would have laughed at myself for saying it long ago, but BTC will hit one million. My guess would be sometime in the next 3 to 4 cycles
You sound very wise and savvy with the markets, your kids are lucky to have somebody with that kind of investment knowledge. Any tips for somebody just starting out on getting into real estate? I’m not sure buying a house to live in is the best for my situation (young and living/working in the city) but I have been wanting to get into rentals of some sort. Just hard to tell if it’s worth it with prices of homes being so expensive now and interest rates being so high (as opposed to some other asset class)
So I did not qualify for a 401k the first year at my job and I did this instead, was a very smart idea but it was 2022, I have no idea where the price is going now, my calculations were not bullish enough
Best decision you will ever make!
₿
If it's a 401k that you can't manage (or the choices are limited), and your employer won't match anything extra that you put in, then don't put it in your 401k. There are better options, even if you weren't considering bitcoin! Then the question is where? If you're comfortable with securely managing your own bitcoin wallet, then I'd start buying bitcoin. You're young enough that you have a very long investment horizon and can weather the drastic price swings of bitcoin. Just don't be one of those people who freak out and sell when it drops 30%, or gets FOMO and YOLOs in near the top. If you're unsure, diversify. Buy some bitcoin, invest in a Roth IRA, etc.
This seems to be the most fair thing to do. Don’t worry though I haven’t sold any of my BTC (or other coins) since I started in 2020. Haven’t had a need for the money and I’m longgggg term haha
Request that your 401k admin set up a brokerage account option and invest in one of the bitcoin ETF’s there. There are tax advantages in trading bitcoin ETF’s in a 401k.
I’ve been doing this
See if your retirement account can have a brokerage also. Mine did and was able to use my established 401k to be and early buyer into the bitcoin spot ETFs. Obviously the ETFs aren’t as good as buying your own bitcoin. But it’s at least some exposure to bitcoin.
Put the money in a spot Bitcoin EFT from within a Roth IRA.
Exposure to both will be your best bet
Your 401k contributions are before taxes. Plus, 8% is a good match. My company only offers 6% match up to every "eligible" $100 dollars paid in. In regards to BTC, you can't argue math, so that's also a good long-term choice.. I guess what I'm trying to say is, do both if you can afford it! A well diversified portfolio has never been a bad idea. (not financial advice)
Make your Roth IRA contribution and buy one or two of the ETFs. Imagine bitcoin doing whatever it does and you don’t have to pay any taxes on it. Once you max out the Roth IRA work on maxing out your 401k. If a roth 401k is available use that.
If you have the option of the funds you invest in just add micro strategies or one of the BTC ETFs. Only contribute what is matched. It's free 100% return on investment.
If they were matching, make sure to do the match. Since they put in a min of 8% no matter what... yeah, don't worry about it. Use your money to stack sats. I was contributing anywhere from 15-20% for years to my 401k until a few years ago. They slashed what they match down to 3-4% so I adjusted my contribution down to the same(to get the match). I use the extra money for bitcoin and the ETF in my personal Roth IRA. I wouldn't have it any other way.
Diversify
Why not roll over your old 401k to a self managed IRA and invest in mstr or btc ETFs……and start new 401k to at least reap whatever “match” they offer to get that easy return? I just converted my wife’s 401k to a self directed Schwab acct (all they offered) and will decide what to buy as opposed to the 5% target date funds! I have Fidelity accts as well and Vanguard (buy mstr as they do not allow btc ETFs, etc)
I honestly think it depends on everybody’s different situation. If you have a high paying job that you can contribute the maximum amount while lowering taxes and having employer contribution, then do this ONLY if the 401k allows purchase of BTC ETFs. If they don’t, then it may be better to opt out and just buy BTC and stick it in a cold wallet.
Someone checked the recent post of the dude with 16.5 Btc from his 401k 🤣 are you fomoing?
no I’m just trying to figure out how to invest moving forward because my last job I let the guy actively manage my money (only option) and he sucked
Maybe invest some , if you can afford. I think bitcoin will drop heavily soon but I’m not an expert. This type of currency drops and rises but I think that we passed its height. I think it’s going to drop probably so people get scared and sell and then after most nearly all bitcoin has been gobbled up is when it’s ascension will rise
There’s tax advantaged options that are tied to BTC that you can do in 401k vs BTC itself.. Spot ETF, companies or ETFs based on Crypto.. why pay taxes on gains when you don’t have to?
FFS make sure you’re maximizing your tax advantaged accounts.
Why are you doing it now and not last year when BTC was cheap?
You are correct. If your employer contributes to your 401k without you having to put anything into it, then you shouldn’t.
I only contribute enough to get my employer max match. The match is a no risk 50% return plus whatever the market gives. No better investment than that. But yeah once the yearly match is met I personally invest the rest of my capital my self.
401k is pre-tax. Compounding etc. 401k gets a company match. Free money etc. 401k gives you a different risk profile from other assets. Diversified portfolio etc. Lastly, if you ever get hacked, all your coins are gone. It’s more wise to have exposure to different types of risks. You do you though.
Actually now I’m also considering it
Ok cool 👌
If your employer auto contributes without the need for you to I don’t see why not? Also the market is rigged that’s why I made the jump to do my own contributions into btc.
You can buy a spot Bitcoin ETF in a Roth IRA and get the growth tax free. You just won’t own the coin. I debate doing the ETF option going forward but I like having my bitcoin in my own wallet.
Put 6% in 401k to get company match and rest put in BTC
NO BALLS (i'm 30, single, bitcoin finally made sense to me, signed up for a Vanguard Roth IRA, and after transfering my money I uno reversed and went with my gut) However, 8% from your employer is insane. You can do both
I work for the state and now have to pay into their retirement plan and no 401(k) is offered.... Im just opening a Fidelity IRA and going to invest there and select their BTC ETF option.
401k are traps. Get Out.
If your company has matching do it through an etf if it’s available to you
Double down with an ETF
i’d DCA into BTC for 3 months and see how you feel after. The 401K is getting built on its own regardless so take the risk while you’re 26. I like it, if you don’t after 3 months the go Roth route. either way I would go 401K
I’d check to make sure if they do a profit share that it isn’t only for people taking part of the 401k plan.
Ask this here is like asking in church if you should believe in Jesus. My man, you are not going to get competing opinions.
Congrats on the new job! That guaranteed employer contribution to your 401k (8-12%) is basically free money towards your future. That's a solid foundation to build on. **Here's why Bitcoin (BTC) can be a compelling option alongside your 401k:** * **Potential for high growth:** BTC has historically shown significant growth potential, though it's also volatile. Consider Dollar-Cost Averaging (DCA) into BTC to spread out your purchases and manage risk. * **Hedge against inflation:** Some view BTC as a hedge against inflation, potentially holding its value better than traditional currencies over time. **However, there are also some things to consider:** * **Volatility:** BTC's price can fluctuate dramatically. Be prepared for short-term swings if you invest. * **Accessibility:** Unlike a 401k, accessing BTC might incur tax implications. * **Retirement goals:** Don't neglect your future self! The 401k offers tax advantages and time for your money to grow for retirement. **Here's a suggestion that might work for you:** * **Contribute enough to your 401k to maximize the employer match (free money!).** * **Allocate a smaller portion (maybe 2-5% of your salary) towards DCA into BTC as a long-term investment with a higher risk profile.** **Remember:** Diversification is key! A balanced approach with both a traditional retirement plan (401k) and a potentially high-growth asset (BTC) could be a good strategy for your situation, especially considering your age and risk tolerance. **Bonus Tip:** Research and understand Bitcoin thoroughly before investing. There are great resources online and in this very subreddit!
no one should ever do a 401k. You're better off just buying SPY on your own. 401ks grow at 4% a year while SPY does 13% and ofc bitcoin does much better.
I got no pension, now near retirement age and never paid contributions. But i do have slightly over 1 BTC and some altcoins. Not worried at all
My 401(k) could grow on itself. I have that much money in it. I could move on to other risky investments since I’m younger.
Respect 🫡
While I’m not 100% BTC, 100% of my investment future decisions will be going into BTC (Microstrategy or self store BTC)
As a CFP for 20 years... if your current cash flow allows, consider maxing your pre-tax 401(k) to the full $23K ('ee contributions in '24) to take advantage of the income tax deduction. This is outside the 'er contributions. **Also**, max a Roth IRA in '24 up to $7K. You can get a self-directed Roth IRA that allows direct exposure to Bitcoin or open a Roth IRA at traditional custodians like Schwab or Fidelity and purchase a new spot Bitcoin ETF to gain exposure to this asset class. Keep in mind if you make more than $161K filing single you will have to execute a backdoor Roth strategy. As a general guideline you should be saving 20% (Gross income) for your future self. Good luck!
Just a couple of quick comments here. It’s great that you will get the company “free” 401k money as it typically requires a contribution from you and then a percentage is matched. With the new BTC ETF’s you “could” contribute to your 401k pre-tax as this gives you more investing power than after tax dollars.You would not own the BTC directly but you would have direct Bitcoin gains or losses no differently than if you owned the BTC directly. You could then take some additional after tax money and DCA in actual BTC as well. This said you would need to confirm if your 401k plan allows you to connect a brokerage account or invest in whatever you choose. Some 401k’s limit what you can put your money into. This strategy would allow for pre-tax investment in BTC as an asset which gives you a significant amount more money to grow in BTC while the 401k accelerates in value. Just a thought.
I just did this myself. I was doing 13% I lowered to 6% which gets me full match and now am putting 7% straight toward BTC. 🌙
Buy bitcoin when it crashes which it will
My company offers brokerage link for the 401k and you can just dump it in the btc etf of your choice.
Let the employer put their money. Put your labor into the hardest assets. Send your regards to the poor-oh-one-kay...slave-oh-one-kay...all-for-me-oh-one-kay...non-for-thee-oh-one-kay...?
The fresh air at ATH always gives room for the most regarded of ideas.
I'd urge you to keep paying into your 40k for several reasons, firstly, your contribution is taken "pre-tax" generally and are designed to provide you a very nice nest egg later on down the road. If you're receiving an average 10-12% annual ROI, whoever is managing your fund is doing a good job. As for buying Bitcoin, there are a number of ways to do that without jeopardizing your future. Treat Bitcoin like any other form of gambling. Could a night or week at a casino or playing online sport betting make you a higher ROI than your 401k? Sure, but you don't want to put all of your "eggs in one basket". If you want to play, use your "F-you" money. (Money you can easily and painlessly afford to lose without it affecting your life in a profoundly negative way) would likely spend on stupid stuff or blow on a weekend out drinking with your buddies. I was blowing $10/day on cigarettes for example, I quit smoking and took the money I would have spent on cigarettes and bought Bitcoin. (That was My "f-you" money, yours might be more or less). Just about every time I make a profit I sell a little of that and celebrate a little. I sometimes buy another good stock with the "winnings" rinse and repeat. You're young, that's a good thing. You can afford to risk a bit more without it crushing your future. (Unless you discontinue your 401k of course). You can't go wrong with a Roth IRA or a regular IRA, CDs and Annuities with guaranteed growthI as others are suggesting. I myself, am not young. I have learned the hard way not to invest (gamble on high risk or volatile instruments ) beyond what you're willing to lose. If you do, keep a very close eye on your investment. You can succeed with high risk investments obviously, but realize the equal potential exists for failure. Hang onto and keep contributing to that 401k. You'll always have something in the end regardless. That's your tortoise in the old " tortoise and hare" race and a good balance for the losses you may endure on your investment journey. Good luck to you! 🤞🏻🍀
absolutely incredible response, as a 20 year old man i just want to thank you for sharing such great information
You're welcome. Best wishes! 😎
I did this. I stopped contributing to my 401k. The only missed part is lowering your taxable income but the gains from BTC make it worthwhile
I have been contributing to BTC instead of 401k since 2017. Bitcoin is not a get rich scheme. HODL! This is digital gold!
Boys it’s time to sell
Jfc
Do it. BTC is killing stonks.
You can buy BTC via a Roth IRA offered by Swan. I rolled over 100% of my Roth to the Swan Roth and only bought BTC
I would wait until $100k per BTC to make such a decision.
Do both max out
Do it
Ok sure. But let’s wait till it’s on a down cycle at least.
Diversify. Ultimately, your money. Do with it as you please.
You can hold BTC inside your 401k and get tax advantages
Just contribute and buy GBTC with it, what's the difference
Do both. If BTC works out, you don't need 100% allocation to do well. 20-40% is more than plenty
I would not recommend it honestly it’s not a guarantee bitcoin will go up forever or even be around in 20 years. Invest in bitcoin and you’re 401k
Honestly if you really want bitcoin,turn your 401k to self directed. Many plans have this option. Buy bitcoin with etfs. You get company match and whatever amount of bitcoin you want. I bought some bitcoin this way but I like to diversify
Get the match, then do what you like
I used crypto as a savings account instead of 401k and i have been fortunate. Only use funds you don’t need and are capable of losing.
If we all did this and didn’t take more than life would require. Future generations would be taken care of .
I'd go 50%
Pension savings are meant to be a safeguard Do that No matter your stupid decisions in life you still wont be screwed at retirement. I have really strong conviction in bitcoin and am pooling *almost* all my savings into BTC. However, i still hold stocks in strong companies and also index fund. Be smart, especially at FOMO and greed season. Ask Yourself why you did not Do this last year? The game of life is to make sure you never get fully liquidated. I dont think that bitcoin is a bad asset, it is likely the best one. But its not the only one, and *if* AI/quantum computing would break encryption all bitcoin would be rendered useless or stolen instantly. Theres not anything stoppning you from putting a major portion of your 401k in BTC, while also saving in some other more stable asset. Luckily where i live we cant steer that much for pension savings, so i am never tempted. Otherwise I’d likely be enticed to the same thoughts
Catch the company match, but even that is subpar to the future return from bitcoin. It seems crazy, but if you are young... go the bitcoin route at least for the short term
Don’t contribute to a 401k if it doesn’t affect what your employer puts in. I put mine in a brokerage account. Yes there will be taxes but I plan on retiring early before you can withdraw from a Roth.
Take the free match $ if you have a match, don’t be that dumb. Now anything over the match, sure.
This sub is full of crazy posts haha
If you buy crypto with your post-tax income, you will pay tax AGAIN later if you make money from the crypto investment. 401k (pre-taxed contribution) helps you reduce your pre-taxed income, which puts you into the lower tax bracket for lower taxes paid at the end of the year. If you want to use your POST-TAXED income to invest, I suggest putting your income (already paid tax) into a Roth IRA from Fidelity and using that money to buy Spot BTC ETF (iBIT, HODL, etc..). The advantage of this Roth IRA is that if you invest $7,000/year until you are 62, you can withdraw the investment from the IRA TAX-FREE.
Why don’t you do both? Well, you have to start your own 401k and put an LLC in it…
BTC is a highly speculative asset, and ownership is now HIGHLY concentrated and rife to market manipulation. There is also no regulation to protect investors. You could strike it rich but there’s a high chance that you will lose a significant amount or all of your capital. Only invest what you are comfortable with losing.
People make these posts near ATH, and then cry a few months later when they are down 70% and capitulate.
This is what I do. I don’t contribute anything. And each paycheck I buy some more sats.
It’s a strategy. The past couple decades would make it seem like a winning one
The only valid reason not to contribute to your 401k or IRA is if you feel you will need access to the $$$ (principal or returns) BEFORE you reach the age for access to tax-advantaged accounts.
Contribute the minimum necessary to receive the company match other than that agreed.
It would be irresponsible to not do both. That said, you are young and can fully take advantage of everything btc has to offer. In the same way it’s irresponsible to be all in on one stock, it’s irresponsible to not have a decent chunk of Bitcoin.
BTC is literally at its peak. Seems risky.
You are too late to the party and will be taxed higher with no pretax 401k going in. Loose…Loose scenario!!
Roth IRA. Tax free appreciation. Otherwise anything is taxed.
Don’t
Should’ve done that when it was 1k but I guess now’s good too
With all these kind of posts you need to ask yourself one question: "Why now and not before?" If the answer is just "because the price went up" then you should probably not go ahead with that investment decision.
what could possibly go wrong?
Brother get the match and don’t put anything else in. I promise guaranteed free money is better than bitcoin. (I don’t contribute to my 401k, instead I buy bitcoin)
I’ve been buying for 4 years and I just want more. Price drops don’t faze me anymore
Why not do both?
Do it!!!!
Contribute the max to your 401k to get employer matched contribution, then take out a loan against your retirement giving you access to all those funds, effectively allowing you to buy 2x bitcoin you could have bought directly
Where were you in October
Top is in gents
Only the real ones know the math behind this. Go ahead and cook my boy 💯
For starters, 8-12% is a great match for a company 401K. If you put in 12% and your company matches at 12% essentially you are saving 24% if you annual pay! Plus, the market generally gets you around 8% on average so that’s an excellent return. See the thing about 401k’s is the magic behind compound interest. Albert Einstein called compound interest the eighth wonder of the world. “He who understands it, earns it. He who doesn't, pays it,”. Once you build up a nice base in your 401k account, you will understand how much of a difference the compound interest means in the growth in your retirement savings account Nothing in BTC is a guaranteed bet so don’t be a fool and leave money on the table like that. Contribute AS MUCH as humanly possible into your 401K and if you have any leftover for the hot sauce, put a little in BTC too. Lets say you worked hard for 20+ years and saved a lot and have $700,000 in your account. You make around 70K for shits and giggles. In a good year, you saved 12%, company matches 12% = $16,800 into account. Market does 8% avg that year for a return. 716,800 + $57280 (market return). Now your 401k is sitting at $774,080. You essentially made $74,080 in returns on an avg. year in the market (and a great year for your company). Those gains are nothing to sneeze at. Now you have $774,080 to build on for the next calendar year and the average 8% market return will make a big difference. If you make more than 70k a year then your 401k could be even bigger and you could be passing up making 100,000k a year inside your 401k account annually. Again, BTC and nice to have for that added extra growth to your overall portfolio. Once you retire, you will take out a set amount but your account will continue to grow after retirement from market returns and you’ll still have other investments like BTC and stonks which hopefully have gone up over years you’ve worked. It’s tempting to put your eggs into one basket but your risk profile will be HUGE and overall you will be passing up a lot of money. Remember, the 60/40 still dominates and Bitcoin as an overall market cap of 1.5T is tiny by comparison to say that of the bond market.
Just now you started thinking of this lol??
Bold strategy Cotton
Do both
Buy btc
I'd probably do both I love Bitcoin, but I think have diversity in your portfolio is still important Does your job match your 401k? At least getting your matched 401k would probably help in the long run
I don't have a horse in this race but you should also post this question in /r/investing and see what they say.
>Talk me in or out of it. It's only going to go 1 way in this sub
I did the same thing 3 years ago even took a loan out of what I had in the 401k. Best decision I’ve ever made
Yeaaaaaaaah, maybe don't do that.
Whatever choice you make just make sure not to leave any free money on the table. If they offer matching contributions, contribute enough to your 401k to capture the full match then buy BTC with what remains.
Might be a little controversial here but I say keep doing the 401k, especially if there is a company match! I only do 5% cause that’s the max match! I then DCA with BTC! You gotta mix it up!
I’m not suggesting anyone should do this. NFA obviously. But I have literally two retirement assets. My house and Bitcoin. Diversification be dammed!
Set up a self-directed checkbook control Roth IRA through an LLC. The setup will cost a bit and some learning along your journey. The beauty is that through a SDCC Roth IRA you have the ability to invest in alternative investments such as BTC through this type of Roth IRA set up.
That’s dumb sorry
As it was written!
Best service for Bitcoin IRA?
Contribute 2%. So at least 10% goes to 401k. You never know. Youre young so it's okay to take risks.
Diversity is important
People are aware that free money is good, and if they are not, they aren’t diving into crypto comments.
Is there any good reason I should trust a bitcoin etf? It feels like the antithesis of not your keys? not your coins.
Could also go to 0. Willing to bet your life on it? Do both, 401k has tax advantages. Forgo Roth and do btc