I’m considering withdrawing my 401k to buy Bitcoin, but I’m not sure if it’s a good idea. Has anyone else done this? What were the pros and cons? What advice would you give me? Any thoughts or experiences would be greatly appreciated. Thanks!
Our only URLs are
All other sites are scams – especially be wary of:
benumbs.cards & bennumb.cards & bennumbs.cards & benumb.cc & many more…
(it can be hard to notice the S and extra N if not careful.)
Welcome to the real deal.
Please bookmark this link — the other sites have simply copy/pasted our html and don’t actually have any cards to sell.
They can be easy to fall for if you aren’t cautious!
Donāt put all your eggs in one basket- especially a particularly speculative basket.
There are about 55 million millionaires all around the world. While there will never be more than 21 million bitcoin available. You do the math.
Currently, BTC continues to rise, but the cryptocurrency market price fluctuates greatly. You can choose a more stable one.
Do it š
I would do it. I have more faith in bitcoin than the economic system we have today. We added 1 trillion in debt in just the past 3 months
There are alternative methods to consider:
– can you do an in-kind trade to an investment firm that allows you to invest retirement funds into crypto. This keeps everything in its tax deferment so no penalties and taxes (not all companies allow you to pull out money from their plan while you are employed there).
– Note you could definitely roll your Roth to a firm that will allow btc investment with your Roth money while keeping the Roth status (ideal if what you hope happens, happens) – google for firms (there are quite a few)
– can you take a loan against you 401k? Obviously there is payback risk but may not be bigger than the penalties youād have to pay anyway
No invest as much as you want in bitcoin going forward but donāt touch your 401k
yes buy one whole bitcoin now. you will be very glad you did in 5 years… hold on its going to be a wild ride. its the onle asset that cant have the supply changed. 21 million club is waiting for you
You can open up traditional or Roth IRAās with Swan and even rollover your previously held ones to these so you can buy Bitcoin with it. I just opened up a roth on Swan so I can buy Bitcoin within my roth
This is the exact opposite of the same question posted 2 days ago.lmao
This is a terrible idea. You will have to pay fees and taxes cashing out the retirement asset for the majority of people to put it into a speculative asset that may end up being nothing.
Leave your 401k alone. Add more to it. Buy Bitcoin on the side with money you can afford to use.
You will pay 10 percent penalty on top of 20 percent taxes if you aren’t 60 years old
>It seems like we’re staring down hyperinflation
If the Fed continues to raise interest rates, hyperinflation isn’t going to happen, and you’ll more than likely see contraction in all speculative markets, including the valuation of Bitcoin. Not a risk worth taking on your entire retirement account.
Keep your 401k. Get a loan that you can afford. Not kidding
Nothing special about 1, if you believe in it, just own what you can. Had 1, had 10, had 100 at various points, trust me it’s not special it’s just a number. What matters is the value to you and others
Yes, tax sheltered accounts offer tax free gains on monopoly money at retirement age. Not promising in the long term. However – buy that bitcoin ETF in your tax sheltered account and then withdraw it in 5 to 10 years when youāve made massive tax free gains, but are still ahead of the financial system collapsing.
āIām afraid Iāll be priced outā. Iām not picking on you, but that is textbook FOMO. Define your risk tolerance and stick to it.
APE IN BRO!!! Not financial advice
You do know that retirement accounts are protected from creditors right? Like if short hits the fan in your life, you’ll always have the money in them for retirement. Bitcoin? A bankruptcy proceeding will liquidate that I’m sure. Don’t put everything in one basket
Go ahead, bet your life savings over a speculative asset over no physical presence. Good luck!
Do it… youll thank yourself in 2030 when its trading above 500k
Depending on your plan, you can borrow up to 50% or 50k (whichever is less) against your 401k.
Also you could transfer your Roth to Swan or Unchained. The former is cheaper but is custodied by Fortress, the latter Iām fairly certain you hold the quorum of you keys.
Personally I try to avoid taxes and fees if there are other optionsā¦
I only put into BTC what I can’t afford to lose, while keeping runway available to pay the fiat bills.
But don’t yolo, DCA, you can also get BTC exposure via TradFi routes now days within ur registered accounts (401k, ROTH IRA).
So in summary: buy some BTC with part of earnings EOM, be it 1% 5% 10% or more. Just DCA your savings.
Look at repositioning your ROTH and TradFi stuff, that’s locked in and the penalties for exiting that ponzi are dire.
If you just pull it all out to buy BTC, you’ll most certainly lose your mind multiple times over the next year imo. Not worth your sanity my friend, nothing is.
Don’t sell your 401k for bitcoin, early withdrawal penalty plus taxes will wipe out half of it.
I bought microstrategy which is basically a bitcoin proxy, perhaps better than an etf. I bought 100 shares or about 1.2 BTC and gonna leave it for a decade.
Are we at the top again? Dumbfucks like this always post this question at the tops.