Davidvictorson (OP)
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October 31, 2023, 01:00:08 PM |
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As a staunch supporter of Bitcoin (BTC), I engage in Dollar-Cost Averaging (DCA) on a monthly basis. With the looming introduction of BTC ETFs, what should regular 9-5 workers with employer-matched 401(k) plans do with their mandatory fiat-based savings? In a scenario where my company allows self-directed investments, should we take a high-risk, "You Only Live Once" (YOLO) approach and dive into the upcoming BTC ETF? While many anticipate a positive impact on BTC's value, the question remains: should we channel our obligatory retirement savings into this? Or should we consider a drastic move, withdrawing from our retirement funds to purchase BTC, witnessing the world's chaos unfold over the next two decades? Your insights are greatly appreciated.
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DaveF
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October 31, 2023, 01:19:25 PM |
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There is no 1 answer. If you ask 100 people you could have 100 different possibilities all being different based on their age and income and goals. Are you older and have a good nest egg and want to try for more then you may want investments with more risk but higher returns since you are already 'set' but want more. Do you need more security? Then it's a different story. Young and starting out? Just had kids and bought a house?
Etc.
There is no one answer, and even if I tell you what I would do *today* next week / month / year things could change and I could give you a different answer.
-Dave
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tbct_mt2
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October 31, 2023, 02:58:43 PM |
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I disagree with people who are fans of YOLO but I agree that life is too short.
I would like to make saving that I will use to invest in Bitcoin but I don't hope to be billionaire with Bitcoin. If Bitcoin can help me to be richer, get a better wealth, it is enough for me. I will use some of profit from Bitcoin to enjoy my life that is what I agree with YOLO philosophy. It does not make any sense if we live a life without enjoying it when we have money.
But I disagree with YOLO that living without plan for future, saving for future is so risky.
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Lucius
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October 31, 2023, 02:59:36 PM |
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~snip~
No matter how positive someone is when it comes to Bitcoin, I think that some things should not be gambled with, and that is certainly the diversion of retirement funds into any risky investments. Isn't it a much better option to try to invest your money in different things and in that way reduce the risk of losing everything in the event that Bitcoin fails to do what you want - or in case you happen to be hacked in the future? The world is always in chaos, it's just that now we are exposed to this information far more than before and it seems that it is much worse than it actually is. If something really bad happens, then money and Bitcoin will lose all value, and everything will come down to what you have to trade in order to get food and water and everything you can't survive without.
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Zlantann
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October 31, 2023, 03:01:24 PM |
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As a staunch supporter of Bitcoin (BTC), I engage in Dollar-Cost Averaging (DCA) on a monthly basis. With the looming introduction of BTC ETFs, what should regular 9-5 workers with employer-matched 401(k) plans do with their mandatory fiat-based savings? In a scenario where my company allows self-directed investments, should we take a high-risk, "You Only Live Once" (YOLO) approach and dive into the upcoming BTC ETF? While many anticipate a positive impact on BTC's value, the question remains: should we channel our obligatory retirement savings into this? Or should we consider a drastic move, withdrawing from our retirement funds to purchase BTC, witnessing the world's chaos unfold over the next two decades? Your insights are greatly appreciated.
In my country, you cannot access your retirement funds unless you retire or leave the organization. However, the answer to this question will depend on some factors. The currency of your country is an important factor to consider. If you live in a country that experiences high inflation and steady depreciation of the value of the currency, it might be okay to take the risk. I know some retirees who ended up in poverty because the value of their retirement benefits has depreciated over time. You also need to consider what you have as a backup. Do you have a house or other sources of income? Do you have young dependents? Don't forget that it is your retirement benefit. You don't have to put all your eggs in one basket because anything could happen. Yes investing heavily in Bitcoin is not a bad idea but there is a need to still be cautious. It will be better to diversify your retirement funds into different sectors but you can give Bitcoin a high percentage.
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ChiBitCTy
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October 31, 2023, 03:21:27 PM |
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I run the State of Illinois Deferred Comp plan/ 457b (I'm a financial advisor). First of all I don't think any 401k's force you to contribute (some may when you first start your job, but you can typically cancel in pretty quickly). Secondly, I highly doubt even in your self directed account inside your IRA will even allow for such a risky investment as a bitcoin ETF. Maybe I'm wrong but I doubt it.
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goldkingcoiner
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October 31, 2023, 04:18:39 PM |
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As a staunch supporter of Bitcoin (BTC), I engage in Dollar-Cost Averaging (DCA) on a monthly basis. With the looming introduction of BTC ETFs, what should regular 9-5 workers with employer-matched 401(k) plans do with their mandatory fiat-based savings? In a scenario where my company allows self-directed investments, should we take a high-risk, "You Only Live Once" (YOLO) approach and dive into the upcoming BTC ETF? While many anticipate a positive impact on BTC's value, the question remains: should we channel our obligatory retirement savings into this? Or should we consider a drastic move, withdrawing from our retirement funds to purchase BTC, witnessing the world's chaos unfold over the next two decades? Your insights are greatly appreciated.
The YOLO approach sounds like buying on FOMO. Thats emotional trading and I advise you to be careful.Sure, it looks like the ETF is a sure thing now, but anything could happen. Thats why we DCA, is it not? To divide up our risks? We do not put all our eggs into one basket, and I think it is only necessarily prudent to say that Bitcoin might be perhaps the one exception to that rule. Or at least it has been, based on its history. I expect great things of Bitcoin and I think the ETF pump will be a small blip in Bitcoins timeline.
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| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
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Odohu
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October 31, 2023, 04:36:07 PM |
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should we channel our obligatory retirement savings into this? Or should we consider a drastic move, withdrawing from our retirement funds to purchase BTC, witnessing the world's chaos unfold over the next two decades? Your insights are greatly appreciated.
You call it obligatory, yet it seems it is accessible even while you are still in service. If that is the case, I will go with the option of diverting it to Bitcoin. Keeping money in fiat will never be my preferred choice, seeing what inflation has done to our local currency. On the other hand, the potential in Bitcoin is amazing, and it even provides a form of hedge against inflation. With Bitcoin ETF and halving on the pipeline, there is no doubt that we will see a decent rise in the price of Bitcoin. I'm also involved in a mandatory retirement contribution, but ours is not accessible until after retirement or four months after quitting the job. Should I have the option of chaneling this funds to something else, I will be all in in Bitcoin. However, don't take my words for it, follow what you are convinced is the best decision.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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Cryptomultiplier
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October 31, 2023, 04:46:07 PM |
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As a staunch supporter of Bitcoin (BTC), I engage in Dollar-Cost Averaging (DCA) on a monthly basis. With the looming introduction of BTC ETFs, what should regular 9-5 workers with employer-matched 401(k) plans do with their mandatory fiat-based savings? In a scenario where my company allows self-directed investments, should we take a high-risk, "You Only Live Once" (YOLO) approach and dive into the upcoming BTC ETF? While many anticipate a positive impact on BTC's value, the question remains: should we channel our obligatory retirement savings into this? Or should we consider a drastic move, withdrawing from our retirement funds to purchase BTC, witnessing the world's chaos unfold over the next two decades? Your insights are greatly appreciated.
The YOLO approach sounds like buying on FOMO. Thats emotional trading and I advise you to be careful.Sure, it looks like the ETF is a sure thing now, but anything could happen. Thats why we DCA, is it not? To divide up our risks? We do not put all our eggs into one basket, and I think it is only necessarily prudent to say that Bitcoin might be perhaps the one exception to that rule. Or at least it has been, based on its history. I expect great things of Bitcoin and I think the ETF pump will be a small blip in Bitcoins timeline. The Bitcoin ETF projects would be a nice time to invest for old timers especially who understand how it works and want to take advantage and invest in a good DCA strategy. I don't think I could allow my retirement funds be DCAd for now until the halving is over even as it remains the best practice overlooking that timeline. No FOMO or emotional investment would make me do such because the company couldn't care less about the best investment strategy for me. It's better my retirement funds are left intact and then I DCA or invest of my own earnings till retirement.
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Don Pedro Dinero
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October 31, 2023, 05:41:20 PM |
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I don't see a dilemma. Just invest in bitcoin but keep it yourself with your private keys and also invest in a good index fund for retirement such as the S&P 500. There will be more and more options to hold bitcoin through ETFs and other vehicles in your pension plan but I plan to keep it outside, in my hands, with my keys. Or should we consider a drastic move, withdrawing from our retirement funds to purchase BTC, witnessing the world's chaos unfold over the next two decades? Your insights are greatly appreciated.
That's bullshit if you're not of retirement age yet, which I gather you're not. In some countries they won't even let you withdraw the money before you retire, and in others, such as the USA, you will pay between the penalty for withdrawing before and the tax of around 50%. Leave the classic options such as index funds in retirement and save on your own to buy bitcoin.
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franky1
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October 31, 2023, 07:24:09 PM |
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this is what most people view:
choices: a. $275k salary. $173k take home pay(post tax).. using 20% to buy 1btc leaving $139k spare for lifestyle
b. $275k salary putting 7.5%($20k) employer matches 7.5%(20k) purchase $40k of etf shares equivalent to 1.17btc pegged value and leaving 163k takehome to spend on lifestyle
so would you prefer (forget the security and benefits of hoarding actual bitcoin) financially to have shares that peg 1.17btc price but you get to spend $163k of your salary. or have just 1btc of actual bitcoin but only $139k to spend of your actual salary
and this dilemma is why many people see a benefit of ETF instead of hoarding actual bitcoin
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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thecodebear
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October 31, 2023, 08:12:05 PM |
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Pretty sure 401k's only allow investment in a select amount of investments. The one time I had a 401k there were specific things we could choose from, its not like we had the entire stock/bond market to choose from.
So it'll likely be some time before 401k's actually start adding BTC ETFs to their approved list, and even then it'll only be some that do this.
But for anyone who at some point in the future is able to invest in a BTC ETF through a 401k I don't see why you wouldn't do that, at least with some of your 401k money. Probably by the time people can start accessing it through 401k's Bitcoin will be much. more mature and no longer grow at a super fast rate, so by then it might just be one of several things you use the 401k for, instead of putting all your 401k money into it.
Whenever BTC ETFs start being approved, whether it is next year or 5 years from now, it won't be retirement accounts that fill it up but your typical traditional investor, investment firm, corporations, and the like, as buying an ETF will be easier for most of them than actually owning Bitcoin. I would guess once an ETF is available that's when we'll see more institutional investment into bitcoin specifically, from investment firms and corporations because they are only interested in using Bitcoin as an asset and not as money so for them actually owning Bitcoin isn't important and adds complexity. For the "bitcoin is an investment-only" crowd an ETF is gonna be huge - lots of Bitcoin is going to be taken up by ETFs thanks to them. But it'll likely be awhile before people start getting access to Bitcoin through something as controlled and limited as a 401k account.
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spectre71
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October 31, 2023, 08:42:28 PM Last edit: October 31, 2023, 11:28:55 PM by spectre71 |
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Back when I worked the corporate world for a very large pharma company they had a very small selection to choose from in the 401K. But they matched half so it worked out kinda. I gather that 401k's are dependant on the employer selections for most. If one can't get direct exposure to BTC then by proxy like Micro Strategies.
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Faisal2202
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November 01, 2023, 05:14:47 PM |
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As a staunch supporter of Bitcoin (BTC), I engage in Dollar-Cost Averaging (DCA) on a monthly basis. With the looming introduction of BTC ETFs, what should regular 9-5 workers with employer-matched 401(k) plans do with their mandatory fiat-based savings? In a scenario where my company allows self-directed investments, should we take a high-risk, "You Only Live Once" (YOLO) approach and dive into the upcoming BTC ETF? While many anticipate a positive impact on BTC's value, the question remains: should we channel our obligatory retirement savings into this? Or should we consider a drastic move, withdrawing from our retirement funds to purchase BTC, witnessing the world's chaos unfold over the next two decades? Your insights are greatly appreciated.
This question has been asked before a few times, but in this question, you asked something unique, which is that your company allows self-directed investments and an option to save funds in BTC has been available for you, and you are skeptical about it because you doubt if it is a good step to cover all of the savings of a retiree in one asset, which is a great hedge against inflation (BTC). I mean, BTC is better than the US or any other fiat currency, but volatility is still there, but in the long run of 2 decades, I will say go for BTC, and that would be a good choice because over the period of 20 years, your savings in fiat will become less as time passes and its value will be eaten away due to inflation, but if you consider BTC, then it will be saved plus more value will be added. And 20 years is a long time. Plus, you are getting the features of 401(k) in it. But I think this scenario of yours is imaginative because I don't think other than a country that has totally accepted BTC and its decentralization will take this step.
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pixie85
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November 01, 2023, 05:29:08 PM |
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It probably depends on how much bitcoin you have right now and what's your goal.
You say you do DCA, so how much is all your bitcoin savings vs your fiat? If you get 100 thousand from your plan and you have maybe 20 invested in bitcoin It could be a good idea to increase the amount of bitcoin you have at the expense of your fiat.
When you get the money, what are your other investment options? Buy a property? Put it in the bank? Buy gold?
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bittraffic
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November 01, 2023, 05:43:20 PM |
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It's a hard decision to make when 401k is going to protect you when you get old. It's for your security that you won't end up homeless.
But can't you do both cause it seems like you already are buying BTC and also have plans for your 401k. If you are in doubt because your government may just take your 401k funds somewhere else, then maybe it's a good decision to go dive into BTC after all the fiat will be terribly affected by inflation soon.
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digaran
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November 02, 2023, 05:27:23 AM |
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Go for it, dive into it, as you said YOLO, so why not risk it all? While there is even a better opportunity in a very short period of time, buy now just to sell after the halving when God willing we hit another ATH, then you can cash out with at least 90% profit in less than a year.
After that you could go back to your normal life and wait for another 4 years, another ETF hype, another halving to rinse and repeat, just imagine how much more you can get by doing this instead of waiting one or two decades.
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NotATether
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November 02, 2023, 08:14:20 AM |
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Go for it, dive into it, as you said YOLO, so why not risk it all? While there is even a better opportunity in a very short period of time, buy now just to sell after the halving when God willing we hit another ATH, then you can cash out with at least 90% profit in less than a year.
YOLO season has already passed, now you must wait until the price drops back down below $30K before you take risks with large amount of savings, since your investment will most likely be underwater until at least 2025. It's a hard decision to make when 401k is going to protect you when you get old. It's for your security that you won't end up homeless.
401k is not an investment fund for startups (or the equivalent for altcoins), if you want to invest in something with your 401k you must only invest in something you know very well, wait for it to get a percentage profit, and get your money out immediately.
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Lucius
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November 02, 2023, 12:08:58 PM |
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YOLO season has already passed, now you must wait until the price drops back down below $30K before you take risks with large amount of savings, since your investment will most likely be underwater until at least 2025. ~snip~
Do you think that the price of BTC will not at least double by the end of 2024 considering the halving and the possible approval of the spot BTC ETF in the US? The difference between $30k and $35k is not that big, and even if someone has to wait until the end of 2025 to make a significant profit, I think that a little more than 2 years is not too long even for those who are less patient. Of course, I still think that such an investment is a risky move considering where the money for it comes from.
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digaran
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November 02, 2023, 01:46:53 PM |
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YOLO season has already passed, now you must wait until the price drops back down below $30K before you take risks with large amount of savings, since your investment will most likely be underwater until at least 2025.
Well, you only live once has no season, but anyways, the reason why people now are showing interest to "invest on" Bitcoin is because they go where ever the winds go, they wait for the movement to start and then decide to invest. Why do I say invest on? Because what they do is like betting, they are actually betting on the future price, whilst the true believers of Bitcoin are already invested in deep for years. Of course buying/investing now is much less profitable than 30 days ago, and 30 days from now it will become much less profitable than now.
If you don't trust and believe in Bitcoin, it's best if you don't engage with it, you might suddenly loose 50% of your portfolio and dump everything to save at least the other half, just to realize in a matter of few weeks, that you made a big mistake.
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