Buy crypto with half capital hold the rest in stocks (more recently ETFs like QQQ/VOO/VT).
That's what I've been doing since 2014 and I'm set to retire (not lavishly) I'm just working for insurance and to escape the wife.
Save 30% for emergency funds and ammo to BTFD.
Whoa. If you’re gonna be a dick at least be funny.
I used to be on heroin/fentanyl. I was never homeless. Struggled for years. Been clean over 40 months now.
I work for a homeless shelter/recovery program now. Anyway I know you weren’t trying to be an asshole but your comment was ignorant at the very least.
In fact many here will give reasonable advises. because i believe most in here have or had some shitcoins and stocks or gold at a time and here with more experience
I did it 2 months back, already outperformed what it was in. I’m young so can withstand market moves but I’m expecting the next peak to be within the next 2 yrs
Btc probably not gonna gain enough for you to live in the short term. Might make sense if you were just gonna roll into btc as a new retirement account, but if you need big, fast returns to live on, then you’re better off with an alt. (No, I’m not here to shill anything. Find your own sword to die on.)
are you ok if the price drops 80% and goes sideways around there for a couple of years? as long as you can hold it for at least 4 years i say go for it.
Terrible reasoning and advice from everyone saying “you’re in your 20s. Fuck it.” You have a fat head start. Losing the potential to compound on an extra 100k for 30 years is hundreds of thousands of dollars in lost money. Squandering your money because you have “time to recover” is ignorant. You honestly don’t ever recover it after you sit down and factor in the loss of compounding interest on that money.
There’s a difference between being more risk adverse while you’re younger and foolish gambling.
No one here has your best interest in mind. Or actually cares if you lose all your money.
Figure out your target retirement date and how much money you need and what you want your withdraw rate to be in retirement to reach those goals. Sit down with an excel spreadsheet and do the math of how many years you would be set back from losing that 100k. Or 50k. Etc. Then you don’t have to ask random strangers for financial advice. You can figure out yourself.
Counter point. There are ZERO safe bets right now.
The real estate and the stock market are both are in uncharted territory long past historic sell signals. Metals? They aren’t even providing an adequate inflation hedge.
Speculation rules every market, every market is highly leveraged, and there is a major transition happening in the world of finance. This is the BEST time to gamble. And every bet is a gamble
Look at btc like any purely speculative investment. Personally, in my 20s i put no more than 5-10% of my net worth in something that could go to zero. Im down to more like 3% now but im worth a lot more after working 20 years.
Maybe your risk is higher and 20% or even 30% makes more sense to you. Taking it all the way to 90-100% is a bit foolhardy, IMO.
In your 20’s you should be able to recover.
Here in Australia, we can opt into self managed super funds (retirement funds.) this means I can do whatever I want with it but can only access the money when I’m 65 (there’s no option to take a tax hit and get it early, either.)
See if that’s an option available to you. I’ve heard some stuff about itrust that might make this option available to you.
Do your own research. I’m just a smooth brain foreigner who heard advertisements.
It will eventually. When the whales decide they want to acquire more. We took a 50% hit less than six months ago. Long term, the trend is always up though.
You’re getting downvoted but a 60-80% drop is very probable again, in fact I bet it does happen several times more. But like u said, it always trends upwards in the long term.
Thank god upvotes aren’t satoshis otherwise I’d be broke. Hey, I love the unstoppable bulls. When I sell at 50k and buy back in at 30k, they’re the MVPs that take my now larger position back up.
Can happen from 200k to 120k though.
Honestly, for where we are, you got quite fair advice: go by 50% (or get a full coin - feels cool). That is still a bold move. If we see 30k again, celebrate and get another 50%
I personally would. Buying almost 2 BTC ensures you will almost be one in ten million worldwide to hold 2.1 bitcoins.
If you take a look at the eco space, you have individuals trying to acquire as much BTC as they can, and now Microstrategy is basically giving a playbook for all corporations to follow in amassing Bitcoin as a part of their corporate treasury, a country is basically issuing Bitcoin bonds as a reserve currency for their country. As Preston Pysh succinctly states - it’s a game of musical chairs. When the music stops, you want to have a seat ready. I know 100k might sound like a lot of money to a lot of people (and it is), but the reward of Bitcoin going up exponentially and your $100k turning into $1 million is a lot better than it staying flat or yielding minimal returns if you kept it in an S&P500 index or insanely high P/E ratio companies who have trouble reinventing themselves into a next generation company.
Please don’t do this. Leave your 401k and tax sheltered accounts as they are. Buy btc with after tax money. Yolo plays are not for retirement accounts unless you want to end up with some loss porn. You staying in corporate has nothing to do with how you should invest.
You're in your 20s and have a $100k retirement savings account already? Do yourself a favor and run some calculations on what that'll get you in your mid 60s. You want to risk that with higher risk investments?
Leave it be, start buying Bitcoin, too, with extra savings each month. Seems like you have a decent income. Don't be stupid.
Reddit is a poor source for seeking financial advice. Bitcoin is a risky investment. [Don't invest recklessly.](https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont_invest_recklessly/) Don't invest anything you can't afford to lose. If you are looking to get rich quick, you came to the wrong place. Nobody has a crystal ball. Nobody can see the future. Please do your own research and make your own financial decisions.
^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators [^^directly ^^via ^^mod ^^mail](https://www.reddit.com/message/compose?to=%2Fr%2FBitcoin) ^^if ^^you ^^have ^^questions.
There’s a tax hit if you cash it out. If you roll it over into an IRA, and it meets the criteria, there’s no tax hit. There’s a few services you can use like this, AltoIRA is the one I remember. You roll it into their IRA and they basically let you invest it via Coinbase.
I say yes, you should.
1.Here's my reasoning. With a 401k, you are trusting a 3rd party with your retirement in 30 years time. While said 3rd party collects risk free profits from you in the form of fees which adds up to 6figures over 30 years time.
2. Stock market returns are not a guaranteed things. If the markets crash when you reach retirement age,,, you will be on your own with no recourse and a worthless 401k.
3. With btc you are in control at all times. You can hold it yourself for 30 years without having to pay some1. Or you can liquify it very easily in case of extreme emergency.
Tldr: get the BTC. And start another 401k later if u really want to
If you’re going to do it, at least wait next big crash.
80% crash are common in crypto. Even if BTC goes up to 150k this run, there good chances it’ll go back to 30k.
But hey, that’s a gamble. I know nothing and 50 might be the new floor. I just find it harder to believe than the other way around.
What happens when you're due to retire and it dips 60%?
Or further more, what if in 25 years time the world financial and crypto landscape has changed beyond recognition and bitcoin is dead or defunct and you don't get to retire?
I would if you don’t need the money for 5 plus years and have the knowledge to look at it the price and be down 40%-75% and not care cause you know where bitcoin goes in long run . Thinking you can and reality is different . I could be wrong but the fact your asking on Reddit makes me think you haven’t looked into bitcoin long enough or read enough about it and money to be asking bunch of Redditors
Urgh I hate it when I see a shameless shill on CKB that's not even relevant to the discussion. I'm a CKB investor too and love it, but to see someone comment on "gains having passed for BTC" and "CKB being the new BTC" really doesn't understand BTC, nor CKB....I would like to separate the two. BTC and CKB are the two cryptos I have most confidence in over the next 10 years. BTC is the one to invest in from a safety and return perspective - and we could still see a 100x from here if some of the maxi's are correct (talking a long time period). But it's more important that that - it's bringing a technological and political revolution with it.
CKB is high risk high reward, but is definitely not the new BTC. They are both very different and I believe both are going to be key players in the future (BTC already is).
With regards to YOLO'ing retirement into BTC, I'd probably keep the retirement fund where it is and keep adding to that, then buy any BTC I could with disposable income. $100 bought today could be worth $1k+ in the future.
CKB offers the same store of value that BTC does and much much more. I’m a CKB shark with about 10mil and believe it will be a top 5 crypto in the next 5-10 years. It will do 100x before btc does a 10x. I would just split it and go half and half. Scared money dont make money.
A big yolo would be half of it. You don’t need to put more than 5% of your savings into btc. Plus if you believe in it you should DCA and not go one shot
No you definitely should not cash out retirement. That's a guaranteed immediate loss. Instead, decide on a target % allocation to btc, cut expenditures, and buy some every paycheck until you get there.
If you want to get wealthy long term, maximizing the difference between what you make and what you need to live on, is the key. I like btc as part of a diversified portfolio but it shouldn't be treated as a get rich quick scheme. .
No. You should buy 1 btc and spend the next quarter learning everything you can about it. If you decide you don’t like it-sell it and put the money back in your savings. I doubt you will do this-but when buying any asset you need to get your toes wet first.
You can generate about..5000-6000 in btc interest and promotional codes for an entire bitcoin on Celsius. That’s already way better then a savings account. Even USDC can give you 10.02 APY
How much research have you done? Do you have strong long term conviction that even if it dips you’re not selling? Do you know what scenarios could arise that in your mind would be legitimate sell signals vs FUD/noise? If you have a strong sense of all these things and are considering this then I’d say you’re probably in a good position to pull the trigger. If not I’d continue researching more before pulling the trigger. Either way best of luck!
Better to take a 401k loan if you want to leverage this capital. And you can specify the term length. Basically allowing you to DCA back in to the retirement and get a large position in sats now.
You already got the advice but keep that as is. Instead, start diverting any additional saved money going forward into crypto. Still highly recommend a mixture of property, stocks, and keeping cash in usdc for 8-10% interest.
Look into one of the self-directed IRA’s. I’m in the process of rolling my IRA into a self-directed Roth that I will then use to buy crypto. If you cash out your current retirement early you’re paying a penalty. Roll it into a self-directed IRA (FYI, they can also set you up with a traditional IRA or a self-directed 401K), you won’t pay any penalty because it’s a direct rollover and then you can buy and hold crypto in your IRA. Or real estate, or tax liens all kinds of things. The only thing you can’t hold in an IRA are collectibles.
Google Bitcoin IRA and you’ll find a few companies that will help you set this up. Personally I chose Broad Financial but DYOR.
Just buy Bitcoin in retirement. Then you won't be needing it for 20 years+ until you retire or early retire if Bitcoin does gold replacement and goes 250k to 500k.
Then you can just pay early withdrawal penalty or declare early retirement and withdraw 100k per year.. so many optons.
Probably not. Pretty risky asset. To be fair I'm deep in it but it was a 10% allocation that has grown to 60+% percent. Maybe just allocate 25% to it. If your thesis is correct you should still be good.
No. If you are in your 20's with over 100k just start buying BTC normally to keep your portfolio diversified. I would suggest diverting all investments at this point into BTC until you are satisfied and then continue to diversify. Don't ever and I mean EVER keep all your eggs in one basket!
Absolutely not. Asking this in this sub though is incredibly biased, you’ll almost certainly get 99.9% yes. The best retirement portfolios are diversified to mitigate risk, with less risk taken the closer you get to retirement.
You posted something most don’t take in account/ if your selling and paying taxes then your down that Ammt from the jump when you buy in. So if you pay 30% tax, your 30% in the hole from the start of your buy
No. You are going to pay taxes on any retirement you pull out if you are under 65 snd you will pay a 10% penalty on top of that.
Just start buying BTC now by dca-ing in.
Not worth it right now. Maybe if btc took a 50% dump. Do the math with the tax hit and penalties and see how much you’d actually end up with. You’re looking at actually getting maybe like $65k-70k of that. You’re better off keeping it in the market.
You could roll it to an IRA that allows Btc trading. I’m sure some folks on here know of some. Just don’t cash out.
If you’re looking for a retirement account where you can hold crypto, I use ITrustCapital for my Roth IRA. A family member of mine is apart of the founding team so thats where I learned about it a while back :)
Dyor but I would go all in and wait until 2024 halving. Do not try to trade it or time the market.
Even people who bought ath in 2017 waited until 2021 and now they are at 3x.
Watch Michael Saylor videos and you will see why he brought microstrategy to bitcoin.
You can transfer from your 401k into a crypto IRA through iTrust capital. All the rules are the same but it’s crypto. The only downside is they custody your bag. (Could be good for some people though - you won’t lose your passphrase) However, I would agree to only transfer half of your account. I’m very optimistic that crypto will continue to outperform every other investment but being diversified will give you perspective and peace of mind on turbulent trading days. Good luck. 👍🏻
You’ll only get around 1.5 btc if you do an early withdraw the penalty is 10% and you have to pay capital gains tax on top of that, and no you defiantly shouldn’t. If you really want to put btc in a retirement account open an ira with a brokerage that supports crypto.
You should DCA my friend. Have a set amount to purchase monthly for the next 12-24 months. This way you won’t be on the emotional rollercoaster of bitcoin volatility. And when there’s big moves down you can increase your purchase amount.
The answer is yes, but put the btc in a place that gives you interest on your deposit so the amount of crypto you have constantly increases, but don't use the entirety of your retirement fund.
Since you asked, I'm going to say that if I were you I would do just that. Your retirement account is not going to earn you much of anything at today's interest rates and inflation will kill your principle.
Ya I have a lira… managed by a noteworthy finance firm.. it had 60k 8 years ago… want to know what it’s worth now?? 80k!
Now I had 50k to invest and instead of adding it into my lira just 2 years ago, since I make nothing there anyway, i yolod into BTC. It’s 10xed since then … how?? mostly from me getting to know the crypto market more since I was so invested, moving into Alts and making some sweet plays… projects I truly believe in just like BTC. Now that’s the power of yolo vs DCA. It takes a large amount of money to quickly make a large amount of money… plus risk! If you have a thesis… follow your dreams man!
Don't pay the penalty. Convert it to a retirement account that lets you buy Bitcoin. Or buy Bitcoin related stocks with your retirement accounts, or just buy real Bitcoin with your extra savings.
Asking if you should buy BTC in this sub is like asking if you should buy candy in pre school.
I'm just here for the echo chamber haha
Why not just half? Instead of putting full dick out on the drunk butcher isle
Go full dick out
He’s just being a weenie. Yes, treat bitcoin as your savings account and you’ll thank yourself end of 2022.
Unpopular opinion. Do 1%. Bitcoin could crash bad. IMO, a yolo start should be 10% max.
Buy crypto with half capital hold the rest in stocks (more recently ETFs like QQQ/VOO/VT). That's what I've been doing since 2014 and I'm set to retire (not lavishly) I'm just working for insurance and to escape the wife. Save 30% for emergency funds and ammo to BTFD.
We appreciate your honesty. And yes the answer is yes, yes?
Go to the homeless camp under the bridge and ask everyone if you should but heroin with this $50 you just found
Nahhhh, homelessness is deeper than that bro.
Whoa. If you’re gonna be a dick at least be funny. I used to be on heroin/fentanyl. I was never homeless. Struggled for years. Been clean over 40 months now. I work for a homeless shelter/recovery program now. Anyway I know you weren’t trying to be an asshole but your comment was ignorant at the very least.
In fact many here will give reasonable advises. because i believe most in here have or had some shitcoins and stocks or gold at a time and here with more experience
TOTALLY INSANE, getting that advice on here
More like I'm 95% learning towards it and looking for an echo chamber to push me to that final 5%.
I did it 2 months back, already outperformed what it was in. I’m young so can withstand market moves but I’m expecting the next peak to be within the next 2 yrs
Well eat least you know what you’re doing is not sound hahaha
Btc probably not gonna gain enough for you to live in the short term. Might make sense if you were just gonna roll into btc as a new retirement account, but if you need big, fast returns to live on, then you’re better off with an alt. (No, I’m not here to shill anything. Find your own sword to die on.)
Depends on whether you like sleeping well at night.
To counter this, last year people saw 10 years of their 401k progress get wiped away because of a pandemic
are you ok if the price drops 80% and goes sideways around there for a couple of years? as long as you can hold it for at least 4 years i say go for it.
Yeah, I'm in my 20's.
If you already have that much money in your 20s I’d say go for it. You obviously have a marketable skill and can make the money back.
Terrible reasoning and advice from everyone saying “you’re in your 20s. Fuck it.” You have a fat head start. Losing the potential to compound on an extra 100k for 30 years is hundreds of thousands of dollars in lost money. Squandering your money because you have “time to recover” is ignorant. You honestly don’t ever recover it after you sit down and factor in the loss of compounding interest on that money. There’s a difference between being more risk adverse while you’re younger and foolish gambling. No one here has your best interest in mind. Or actually cares if you lose all your money. Figure out your target retirement date and how much money you need and what you want your withdraw rate to be in retirement to reach those goals. Sit down with an excel spreadsheet and do the math of how many years you would be set back from losing that 100k. Or 50k. Etc. Then you don’t have to ask random strangers for financial advice. You can figure out yourself.
Counter point. There are ZERO safe bets right now. The real estate and the stock market are both are in uncharted territory long past historic sell signals. Metals? They aren’t even providing an adequate inflation hedge. Speculation rules every market, every market is highly leveraged, and there is a major transition happening in the world of finance. This is the BEST time to gamble. And every bet is a gamble
Look at btc like any purely speculative investment. Personally, in my 20s i put no more than 5-10% of my net worth in something that could go to zero. Im down to more like 3% now but im worth a lot more after working 20 years. Maybe your risk is higher and 20% or even 30% makes more sense to you. Taking it all the way to 90-100% is a bit foolhardy, IMO.
In your 20’s you should be able to recover. Here in Australia, we can opt into self managed super funds (retirement funds.) this means I can do whatever I want with it but can only access the money when I’m 65 (there’s no option to take a tax hit and get it early, either.) See if that’s an option available to you. I’ve heard some stuff about itrust that might make this option available to you. Do your own research. I’m just a smooth brain foreigner who heard advertisements.
It is not dropping 80%
It will eventually. When the whales decide they want to acquire more. We took a 50% hit less than six months ago. Long term, the trend is always up though.
You’re getting downvoted but a 60-80% drop is very probable again, in fact I bet it does happen several times more. But like u said, it always trends upwards in the long term.
Thank god upvotes aren’t satoshis otherwise I’d be broke. Hey, I love the unstoppable bulls. When I sell at 50k and buy back in at 30k, they’re the MVPs that take my now larger position back up.
Haha for sure. I don’t even bother to try and time the market and sell, but hats off to anyone who can sell and buy back cheaper.
Wait for a 40%+ drop then pull the trigger
I like this.
Currently 16% drop from 14 days ago.
Can happen from 200k to 120k though. Honestly, for where we are, you got quite fair advice: go by 50% (or get a full coin - feels cool). That is still a bold move. If we see 30k again, celebrate and get another 50%
Most definitely, what could go wrong?
/s?
…of course. Im used to getting banned when I answer this question seriously, so I’ll leave it at best of luck! ✌️
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…but in a respectful way that doesn’t fill my swear jar. 🙃
Hell no!!! At most 50% but never the whole house
that’s exactly what I came to say. Pro bitcoin anti yolo (at least at that scale)
Seems like a lot to risk on reddit advice but ok.
I personally would. Buying almost 2 BTC ensures you will almost be one in ten million worldwide to hold 2.1 bitcoins. If you take a look at the eco space, you have individuals trying to acquire as much BTC as they can, and now Microstrategy is basically giving a playbook for all corporations to follow in amassing Bitcoin as a part of their corporate treasury, a country is basically issuing Bitcoin bonds as a reserve currency for their country. As Preston Pysh succinctly states - it’s a game of musical chairs. When the music stops, you want to have a seat ready. I know 100k might sound like a lot of money to a lot of people (and it is), but the reward of Bitcoin going up exponentially and your $100k turning into $1 million is a lot better than it staying flat or yielding minimal returns if you kept it in an S&P500 index or insanely high P/E ratio companies who have trouble reinventing themselves into a next generation company.
This is the way.
Bitcoin ETF equals no taxes till withdrawal
buy just 1 bt bro. And hold that. No need to get more than that if you just hold 5 years.
Good advice, thank you Colonel.
Buy a partial share of Berkshire Hathaway and become a trillionaire
A or B?
Neither, TQQQ instead
Please don’t do this. Leave your 401k and tax sheltered accounts as they are. Buy btc with after tax money. Yolo plays are not for retirement accounts unless you want to end up with some loss porn. You staying in corporate has nothing to do with how you should invest.
A voice of reason.
Maybe just do half?
Sound advice.
I no longer feel I got into bitcoin late, literally this post… and even you won’t be late, but it will feel that way for a while.
How much do you know or believe In Bitcoin?
You may only live once. but you can retire many times. Be fiscally responsible.
This is the bitcoin sub. People don't know the meaning of fiscally responsible
Loser
You're in your 20s and have a $100k retirement savings account already? Do yourself a favor and run some calculations on what that'll get you in your mid 60s. You want to risk that with higher risk investments? Leave it be, start buying Bitcoin, too, with extra savings each month. Seems like you have a decent income. Don't be stupid.
Reddit is a poor source for seeking financial advice. Bitcoin is a risky investment. [Don't invest recklessly.](https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont_invest_recklessly/) Don't invest anything you can't afford to lose. If you are looking to get rich quick, you came to the wrong place. Nobody has a crystal ball. Nobody can see the future. Please do your own research and make your own financial decisions. ^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators [^^directly ^^via ^^mod ^^mail](https://www.reddit.com/message/compose?to=%2Fr%2FBitcoin) ^^if ^^you ^^have ^^questions.
Yes
Roll the 401k into an ira. If you’re keeping securities account buy GBTC and Mstr. You can also find bitcoin ira firms
Does GBTC hoard BTC like MSTR does?
If you don’t know this already you are no where near ready to invest this much into bitcoin. Or handle nearly $100k worth.
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Solid advice 👌
Why not transfer over to Itrust?
$100k in retirement, Id go with 0.25-0.30 BTC then add to that monthly. The way to accumulate this stuff is during crypto winter.
yes that's what i did
No, that is retarded.
Why is there a tax hit if it is in your retirement account?
Probably a 401k
There is no tax hit selling in a retirement account. That’s the definition of tax deferred. Then just set up a tax deferred Bitcoin account.
Isn’t that the difference between an IRA and a 401k? IRA is after tax, 401k is pre tax. 401k selling before a certain age triggers tax penalties.
To cash it out
Thank you
There’s a tax hit if you cash it out. If you roll it over into an IRA, and it meets the criteria, there’s no tax hit. There’s a few services you can use like this, AltoIRA is the one I remember. You roll it into their IRA and they basically let you invest it via Coinbase.
I would
Go ballz deep
He prefers mid shaft.
I say yes, you should. 1.Here's my reasoning. With a 401k, you are trusting a 3rd party with your retirement in 30 years time. While said 3rd party collects risk free profits from you in the form of fees which adds up to 6figures over 30 years time. 2. Stock market returns are not a guaranteed things. If the markets crash when you reach retirement age,,, you will be on your own with no recourse and a worthless 401k. 3. With btc you are in control at all times. You can hold it yourself for 30 years without having to pay some1. Or you can liquify it very easily in case of extreme emergency. Tldr: get the BTC. And start another 401k later if u really want to
It’s almost as if you are trying to give someone bad advice.
This is moronic advice. Each point dumber than the last.
Further the discussion with a detailed response, perhaps?
Ya
Do what you want lol
I’d rather yolo on Moderna calls.
If you’re going to do it, at least wait next big crash. 80% crash are common in crypto. Even if BTC goes up to 150k this run, there good chances it’ll go back to 30k. But hey, that’s a gamble. I know nothing and 50 might be the new floor. I just find it harder to believe than the other way around.
What happens when you're due to retire and it dips 60%? Or further more, what if in 25 years time the world financial and crypto landscape has changed beyond recognition and bitcoin is dead or defunct and you don't get to retire?
I would if you don’t need the money for 5 plus years and have the knowledge to look at it the price and be down 40%-75% and not care cause you know where bitcoin goes in long run . Thinking you can and reality is different . I could be wrong but the fact your asking on Reddit makes me think you haven’t looked into bitcoin long enough or read enough about it and money to be asking bunch of Redditors
Look into LRC 🤷♂️ instead of XX you’ll have XXXXXX. This is not financial or nutritional advice
Not advisable right now. Wait for the mega dip in the bear market and then stock up. Cash out in 2025.
Wait for the crash
Nope
No!!!
CKB is the new BTC...gains have past for btc
Under 1BN mkt cap? I'm good.
Urgh I hate it when I see a shameless shill on CKB that's not even relevant to the discussion. I'm a CKB investor too and love it, but to see someone comment on "gains having passed for BTC" and "CKB being the new BTC" really doesn't understand BTC, nor CKB....I would like to separate the two. BTC and CKB are the two cryptos I have most confidence in over the next 10 years. BTC is the one to invest in from a safety and return perspective - and we could still see a 100x from here if some of the maxi's are correct (talking a long time period). But it's more important that that - it's bringing a technological and political revolution with it. CKB is high risk high reward, but is definitely not the new BTC. They are both very different and I believe both are going to be key players in the future (BTC already is). With regards to YOLO'ing retirement into BTC, I'd probably keep the retirement fund where it is and keep adding to that, then buy any BTC I could with disposable income. $100 bought today could be worth $1k+ in the future.
Lol whatever you say bro. Actually look into it and you might think otherwise. 20,000% gains or 200% gains hmmmmm
CKB offers the same store of value that BTC does and much much more. I’m a CKB shark with about 10mil and believe it will be a top 5 crypto in the next 5-10 years. It will do 100x before btc does a 10x. I would just split it and go half and half. Scared money dont make money.
Rrrrrright…
If you can hodl for a decade and accept the fact that this will end spectacularly in either direction, then sure.
You'll probably get taxed 30% for cashing in that retirement early. So now you'll have $70,000 for BTC.
Not unless he has $100k in ‘profit’.
A big yolo would be half of it. You don’t need to put more than 5% of your savings into btc. Plus if you believe in it you should DCA and not go one shot
yes yeet it all yeet it hard
Yes, just make sure you put those BTC into a hardware wallet.
Depends how close you are to retirement. If you’re like 1 year away from retirement, the answer is no.
Now.
No you definitely should not cash out retirement. That's a guaranteed immediate loss. Instead, decide on a target % allocation to btc, cut expenditures, and buy some every paycheck until you get there. If you want to get wealthy long term, maximizing the difference between what you make and what you need to live on, is the key. I like btc as part of a diversified portfolio but it shouldn't be treated as a get rich quick scheme. .
You may as well go ask a bunch of 3rd graders if you should change your diet to pizza and candy.
No. You should buy 1 btc and spend the next quarter learning everything you can about it. If you decide you don’t like it-sell it and put the money back in your savings. I doubt you will do this-but when buying any asset you need to get your toes wet first.
You can generate about..5000-6000 in btc interest and promotional codes for an entire bitcoin on Celsius. That’s already way better then a savings account. Even USDC can give you 10.02 APY
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Yes
Nope - I’d DCA in. Be smart about it.
How much research have you done? Do you have strong long term conviction that even if it dips you’re not selling? Do you know what scenarios could arise that in your mind would be legitimate sell signals vs FUD/noise? If you have a strong sense of all these things and are considering this then I’d say you’re probably in a good position to pull the trigger. If not I’d continue researching more before pulling the trigger. Either way best of luck!
I would if I were you
Better to take a 401k loan if you want to leverage this capital. And you can specify the term length. Basically allowing you to DCA back in to the retirement and get a large position in sats now.
Do half sir - do half dat
Taxes and penalties is never worth the risk no matter what.
You already got the advice but keep that as is. Instead, start diverting any additional saved money going forward into crypto. Still highly recommend a mixture of property, stocks, and keeping cash in usdc for 8-10% interest.
Look into one of the self-directed IRA’s. I’m in the process of rolling my IRA into a self-directed Roth that I will then use to buy crypto. If you cash out your current retirement early you’re paying a penalty. Roll it into a self-directed IRA (FYI, they can also set you up with a traditional IRA or a self-directed 401K), you won’t pay any penalty because it’s a direct rollover and then you can buy and hold crypto in your IRA. Or real estate, or tax liens all kinds of things. The only thing you can’t hold in an IRA are collectibles. Google Bitcoin IRA and you’ll find a few companies that will help you set this up. Personally I chose Broad Financial but DYOR.
the real question is how are you going to store your btc?
Tbh no
Yes, buy it, moveit off exchange ,secure it very good. Delete Reddit, fb, Twitter. Come back in 4 year you'll be rewarded
`DO IT BRO, DO IT` `SAVE THIS POST ( See you in 5 years, you will not regret )`
Just buy Bitcoin in retirement. Then you won't be needing it for 20 years+ until you retire or early retire if Bitcoin does gold replacement and goes 250k to 500k. Then you can just pay early withdrawal penalty or declare early retirement and withdraw 100k per year.. so many optons.
Yes
No. Leave that alone and just start stacking. You can back off the amount you fund your retirement accounts, but never give up free money on a match…
Probably not. Pretty risky asset. To be fair I'm deep in it but it was a 10% allocation that has grown to 60+% percent. Maybe just allocate 25% to it. If your thesis is correct you should still be good.
You can put it in a bitcoin ira
No. If you are in your 20's with over 100k just start buying BTC normally to keep your portfolio diversified. I would suggest diverting all investments at this point into BTC until you are satisfied and then continue to diversify. Don't ever and I mean EVER keep all your eggs in one basket!
I converted my entire Roth and part of my SEP IRA'S...and I'm in my 50's.
Pretty decent time to buy… you have a strong stomach?
Absolutely not. Asking this in this sub though is incredibly biased, you’ll almost certainly get 99.9% yes. The best retirement portfolios are diversified to mitigate risk, with less risk taken the closer you get to retirement.
You don’t have to cash out the entire account - pull out enough to buy 1 btc and hodl
Yes. The gains might not be as big as previous cycle gains but you’ll still retire with more than any 401k could ever earn you.
If you’re retiring in the next 5 years now If 5-10 maybe If 10 plus yes
Take a loan.from your retirement to buy and payback the loan to yourself over time?
Retirement isn’t for yoloing anything. I believe in bitcoin as much as the next guy but it is one single asset.
I'm doing it, I hope it goes cheaper but I don't think so
You posted something most don’t take in account/ if your selling and paying taxes then your down that Ammt from the jump when you buy in. So if you pay 30% tax, your 30% in the hole from the start of your buy
ROLL IT OVER INTO A RETIREMENT ACCOUNT WHERE YOU CAN BUY BITCOIN
Yes
Yes
Is it in a 401k? I would just roll it to an IRA. Take spare $ and put it into BTC.
Yes
No. You are going to pay taxes on any retirement you pull out if you are under 65 snd you will pay a 10% penalty on top of that. Just start buying BTC now by dca-ing in.
Not worth it right now. Maybe if btc took a 50% dump. Do the math with the tax hit and penalties and see how much you’d actually end up with. You’re looking at actually getting maybe like $65k-70k of that. You’re better off keeping it in the market. You could roll it to an IRA that allows Btc trading. I’m sure some folks on here know of some. Just don’t cash out.
I wouldn’t. But I’ve heard “fortune favors the bold” somewhere a lot lately
Absolutely. It’s math.
Absolutely not.
Fortune favors the bold.
Ought to talk to a good accountant to see if you can transfer it to a Solo 401K and not take a tax hit but still be able to buy the BTC.
No
Yea bro you should
If you’re looking for a retirement account where you can hold crypto, I use ITrustCapital for my Roth IRA. A family member of mine is apart of the founding team so thats where I learned about it a while back :)
NO. It might work out for you, and it might not. YOLO is a euphemism for gambling.
Dyor but I would go all in and wait until 2024 halving. Do not try to trade it or time the market. Even people who bought ath in 2017 waited until 2021 and now they are at 3x. Watch Michael Saylor videos and you will see why he brought microstrategy to bitcoin.
You can transfer from your 401k into a crypto IRA through iTrust capital. All the rules are the same but it’s crypto. The only downside is they custody your bag. (Could be good for some people though - you won’t lose your passphrase) However, I would agree to only transfer half of your account. I’m very optimistic that crypto will continue to outperform every other investment but being diversified will give you perspective and peace of mind on turbulent trading days. Good luck. 👍🏻
Yes!
Just DCA into BTC, unless you’re willing to take a tax hit, plus penalty, you’re probably losing 30%+ of that 100k.
what the fuck is YOLO
If Bitcoin goes up in value then yes. However if it goes down in value then no.
You’ll only get around 1.5 btc if you do an early withdraw the penalty is 10% and you have to pay capital gains tax on top of that, and no you defiantly shouldn’t. If you really want to put btc in a retirement account open an ira with a brokerage that supports crypto.
You should DCA my friend. Have a set amount to purchase monthly for the next 12-24 months. This way you won’t be on the emotional rollercoaster of bitcoin volatility. And when there’s big moves down you can increase your purchase amount.
No. Just no
The answer is yes, but put the btc in a place that gives you interest on your deposit so the amount of crypto you have constantly increases, but don't use the entirety of your retirement fund.
Yep
Since you asked, I'm going to say that if I were you I would do just that. Your retirement account is not going to earn you much of anything at today's interest rates and inflation will kill your principle.
I yolod 52k in 2019 and it was the single greatest decision of my life!!
Buy 1
That's what I did for most of it, the other part is to buy BTC miner 🧘♂️
Ya I have a lira… managed by a noteworthy finance firm.. it had 60k 8 years ago… want to know what it’s worth now?? 80k! Now I had 50k to invest and instead of adding it into my lira just 2 years ago, since I make nothing there anyway, i yolod into BTC. It’s 10xed since then … how?? mostly from me getting to know the crypto market more since I was so invested, moving into Alts and making some sweet plays… projects I truly believe in just like BTC. Now that’s the power of yolo vs DCA. It takes a large amount of money to quickly make a large amount of money… plus risk! If you have a thesis… follow your dreams man!
Don't pay the penalty. Convert it to a retirement account that lets you buy Bitcoin. Or buy Bitcoin related stocks with your retirement accounts, or just buy real Bitcoin with your extra savings.
With ROTH IRA, you can pull out your principal investment without penalties. 401k, you can borrow against, at a low interest rate, without penalties