401k into crypto

Thinking about liquidating half of my $15k 401k and putting some into BTC, ETH now and keeping another chunk at hand for dips. Am I going to fuck up my retirement as a 27 year old?

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For reference, I'm going to lose about $1k on taxes but am not going to get jewed out of a 10 percent dedication for withdrawing early, thanks to COVID rules

Yes and no. Shorterm no. longterm no. 1minute term yes.

Nope

Yes

Very based user. I say go for it.

I've already $3k into eth and btc at good positions, but I want to bolster them. I'm not planning on putting it all in until we see how BTC does in this run up

Depends on how much you're putting in per year. If you're maxing out your 401k this is only a drop in the bucket. But if this took a significant amount of time (3+ years) then it's inadvisable to withdraw it.

Checked. Took maybe 4 years? Only started putting in the company match maybe 2 years ago

Idk man seems risky. You could make some money but you gotta peel profit to put it back in

Implying society wont collapse before 2050. I would do it if I could. I'm a Britbong and theres no chance of me taking anything out of my pension

401k --> Self Directed IRA --> Bitcoin IRA

This way you dont pay penalties. Youre welcome

>$15k
lol why even bother

Can you take out a loan from the 401k rather than early withdrawal? That’s what I did in 2017 and I’m almost done paying that back (to myself). It worked out fine.

Not sure I know how to do that. My 401k has strict rules for investment, but I havent tried to roll it into an IRA

Because you have to start somewhere.
I believe I can. Not sure the terms, though

Dont fuck up your future over a gamble man

This...
Lol OP I'm thinking to spend my lunch money today on Bitcoin. Lambo when???

Well, man, I only have $3k in crypto now and am thinking of just over doubling that with this move. Idk. Frankly, I should just get a higher paying job

I guess consensus is largely that it's not worth it, either because of the lack of funds or that it will detriment my future

Honestly not worth the penalties

OP, please don't do this. I'd hate to see young kids kill themselves over the next coming years. I only made like $5k in profits and I'm fine. Don't get greedy and don't let the trolls on Zig Forums get to you.

Thanks, man. I'll keep it, try to save better, DCA and keep uni flipping

Keep it inside 401K to avoid taxes, just buy GBTC etf. That's what I am about to do next week.

broke bitch
OP I'm 24 and I dumped 90% of my networth into bitcoin at 15k
are you going to wage cuck forever? Seriously?
I'm going to fucking make it. I WILL NOT wagecuck.

Naked I came from my mother’s womb, and naked I will depart.

Look, I get it. I had opportunities to buy at 10k and didn't take it. I'm likely just better leaving it in there because I'm stupid at fucking trading and would MAYBE make up the difference of taking it out. I'm likely better off expending more of my savings than 401k gambling

why not buy gbtc with your 401k, assuming you have brokeragelink or something

whoops didn't read it all

if you rolled over to an IRA with, say, Schwab, you'd be able to invest in GBTC there. it's not great compared to owning BTC (for all the nerdy own your keys reasons) but at the end of the day you're here to make money, not jack off while looking at your private keys

Fucking boomers

my two cents

I'm 24, make a little under six figgies at my current position, probably going to make 250k in the next few years. Most of my money is in stocks, then my 401k, then crypto. I find this is the healthiest for me since my strategy with crypto is long and if I want to be a degenerate I can get my thrills on with options. Crypto is a long game to me. Also don't do crypto ETFs, have some self respect. bottom line, don't be a fucking retard. Having a high paying job will be the ultimate determination of your success. Even if you want to retire and eat pizza and play video games all day be a fucking man for a few years and you won't have to pull your hair out because your financial plan was going all in on whatever gay crypto Zig Forums memed you into.

Crypto holdings for context: BTC 80%, LINK 20%

People selling their 401Ks to FOMO into crypto? Yeahhhh I'm thinking this is the top

Crypto turns people into animals, I never mention crypto to anyone in real life and neither should you

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