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28130550 No.28130550 [Reply] [Original]

I have an IRA left over from some job I had years ago that has about 7000 bucks in it but it only makes like 1.5% interest or some shit. I think I would lose 10% if I pull it but I am not sure exactly maybe it is worse. Anyway what do you think.

>> No.28130687

all into litecoin

>> No.28130745

you decide dumbass

>> No.28130803

>>28130745
I was kind of hoping someone had done this already and could tell me how it worked out for them

>> No.28130924

I did that last year. I was stressed about it at the time but I put it all into eth and it's gone up over 500%. I'm very happy. Wait for the dips and dca in in intervals

>> No.28130959
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28130959

>>28130550
You would have already gained it back if you put it yesterday into BTC. So yes retard

>> No.28131020

>>28130924
was it just a 10% hit?

>> No.28131053

>>28130550
If you think BTC will break above $50k anytime in the next decade, youd be retarded not to.

>> No.28131224

>>28130550
become a stablecoin liquidity provider. 10% APY minimum

>> No.28131306

7k is nothing
Putting 6.3k into crypto will get you at least 200% gains in 31 days

>> No.28131478

>>28130550
idk about traditional but Roth only penalizes earnings taken out before five years.

So 20k contribution, 5k profits, you can pull out 20k tax free and penalty free. Once you go for the 5k then you get penalized

>> No.28131619

>>28130550
The amount you are going to make in BTC this year will massively outweigh the loss you take. I made the same move myself. Already recouped the loss.

>> No.28131676

>>28130550
Yes. I was in roughly the same position last year albeit with $2k instead of $7k. I cashed out and put it all into LINK. now I’m a millionaire.

>> No.28131770

>>28130550
It's pretty pricey rn to be doing a move like that. Wait till BTC drops to 15k in a year and buy then.

>> No.28131814

>>28130550
Just remember that, as tempting as all the green arrows may look like, there is also a chance that you will lose it all. Even if you just "invest" in serious projects that promise a great future, one day you might go to bed and wake up to a crypto crash that reduced everything to near zero.
If you can afford to lose it, and would be okay with it, go ahead. If not, don't. Your decision.

>> No.28132114

>>28131676
very inspiring>>28131770
yeah

>> No.28132459

>>28130550
You'll take the 10% hit on a traditional IRA and you'll also have to pay taxes on it, so you'll get fucked twice. On the other hand you could probably very easily 10x that money without too much trouble by gambling on some altcoins. Just don't invest anything you aren't prepared to lose.

>> No.28133123

>>28132459
you mean like income tax? I can deduct stuff to bring that down a bit

>> No.28133220

>>28133123
Yeah, cashing out a trad. IRA before 65 gets counted as income, so plan on dealing with that on your taxes.

>> No.28133388

No, I bet you have weak hands so when Bitcoin crashes you will sell and lose 50%. Bitcoin isn’t a sure thing