Current Events > is converting your retirement/401k into bitcoin a smart investment?

(+) Yeah! (+)

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nope.

You could diversify part of it tough.

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Muffinz0rz posted...

i hate when the gif doesn't match the quote.
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EvalAngell posted...

Muffinz0rz posted...

i hate when the gif doesn't match the quote.

I do too man I looked for at least two minutes and couldn't find one that matched.

Did he ever actually say that? Because that's the popular quote, but if he really said that word-for-word, then wouldn't the appropriate gif be easier to find?
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given the volatile structure of bitcoin and other cryptocurrencies, no. you should only invest that which you are willing to lose, and you shouldn't be willing to lose your 401k
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Nah. I think cryptocurrency can be a good investment, but don't convert your 401k into that.

1) Huge penalty for withdrawing money from your 401k
2) cryptocurrency is extremely volatile.
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sure. do it.
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You want to actually retire one day, right? Better invest in bitcoins because your 401k ain't making that kind of cash
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PoopPotato posted...

You want to actually retire one day, right? Better invest in bitcoins because your 401k ain't making that kind of cash

It could make you that much but it could also crash and burn by the time you retire. It can be a good investment in the short term but for a long term safe investment it is not.
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This is a joke topic and that was a joke response.
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Do it and tell us how it went in 20 years.
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Yes
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Sure
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Probably not. People need to remember that bitcoin is only worth money as long as people are willing to buy it. If at some point it starts to crash and everyone wants to sell you won't be able to.

For every person that makes money, there have to be people who lose it because money doesn't come out of thin air.
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That would be a real stupid fucking idea.

Lol this doesn't sound like a good idea :P

Don't mess with your 401k, trust me.
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Caution998 posted...

Lol this doesn't sound like a good idea :P

Don't mess with your 401k, trust me.

I do probably need to up how much I'm putting into it after Christmas though. I'm only doing 50 a pay currently. :v
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You need to put in up to what your employer will match at the very least. That's what I'm doing. When I get older, I'll devote more to it at that time.
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Caution998 posted...

You need to put in up to what your employer will match at the very least. That's what I'm doing. When I get older, I'll devote more to it at that time.

Lol I first read this as you suggesting to put your employer match's worth of your 401k into bitcoin instead.

Yeah you need to make sure to maximize 401k investment by ensuring you get the most of whatever your employer match is. It's literally free money.
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Caution998 posted...

You need to put in up to what your employer will match at the very least. That's what I'm doing. When I get older, I'll devote more to it at that time.

sadly, this place doesn't do matching. ;-; they do gain sharing though, so they put in a certain percentage at the end of the year based on how well the company did. We got 2% this year. It isn't that much but free money is always nice.
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Well, I'd say contribute what you're comfortable with. That's the best you can do. Better than nothing. You can always devote more as time goes on.
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Caution998 posted...

Well, I'd say contribute what you're comfortable with. That's the best you can do. Better than nothing. You can always devote more as time goes on.

but the more money you put in while you're young the better because that money has time to grow. :O compound interest! I've got mine in an aggressive growth fund. I'm doing my best to water the money tree.
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