/biz/ - Business & Finance

>>11974271
>young

cringe

>>11974271
Assuming you have a traditional 401(k), you would be taxed on that withdrawal and also subject to a 10% penalty. A 401(k) is a far, far better investment. Crypto will make you poor.

>>11974511
i went all in roth

>>11974517
You'd still be subject to the 10% penalty. You can't withdraw until you're 59 and a half.

You sound like a fucking idiot
how is this even real?

I know this is too risky, but reward doesnt come without risk. have to keep wagecucking till 70, if i keep in 401k

>>11974517
Yeah a Roth Ira is where it's at, I hear

>>11974511
>Crypto will make you poor.

This is not factually correct long term.

>>11974271

>IRS or govt seize your 401k

You sound like a burger. Look up civil asset forfeiture and understand taxes.

Also 401k cant be used for things while most crypto is going to power social media and gaming. It also provides less chances for things like voting power, staking power and social status on said platforms. 401k is not a good idea for anyone who has a slight ability to handle some risk.

>>11974271
How well is your 401k doing OP?
I only have 14k in my 401k but its been doing really well, last quarter I made 800$, that is just in profit, not including the money I and the company put in.

>>11975012
>Also 401k cant be used for things while most crypto is going to power social media and gaming.

>>11975104
401k is a ponzi just like Bitcoin. Sorry man, a ponzi is a ponzi is a ponzi.

>>11975156
t. retarded pleb

>>11975156
I agree, everything that isn't fiat currency and regulated by the government is a ponzi scheme and should be avoided at all costs.

>>11975210
401k is regulated by the government.

>>11974271
Behind the Numbers & letter 401K
Is a boomer getting JUSTed

>>11975257
Trust the government goy.

>>11975267
Yeah, that's what he was saying.

>>11974729
It absolutely correct. Crypto is a meme. No one with a strong financial background would actually suggest investing heavily in it over a 401(k).

>>11974271
>Dependong on the United States Government, the Treasury, and the IRS not to fuck you in 30 years when you retire by handing them over your money in exchange for an iou on a finincial scheme that's obly 3 decades old and hasn't been stress tested by the wall of boonlmers about to retire over the next decade
T. But no thanks 30yo boomer

Most of my wealth is in a Roth ira, I threw a few thousand into crypto early 2017 just for the hell of it.

>>11974271
You can't touch retirement accounts until you're 59 1/2 so there is a massive opportunity cost to locking your money away for 30+ years lets say.

That being said, if you're investing index funds, you might as well lock your money in a Roth IRA for the tax deduction. If you think you can beat the indexes, you may or may not want your money in a retirement account depending on what you're investing in. Obviously, if you're starting your own business, you can't keep the money in an IRA, or if you're an active trader you can't keep the money in your IRA.

Putting your money in an IRA is only a good idea if you're sure you can't beat the index, so most people should go ahead and do it.

If you want to be rich, putting your money in an IRA is not really a good idea.