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Should You Buy Bitcoin with Retirement Money – Miyagi Mornings Episode-92

The Survival Podcast Posted on by

If for any reason the above Odysee Video doesn’t play smoothly for you, the back up YouTube version is here.

Note I don’t mean should you see BTC or other crypto assets as part of your retirement. Rather should you use money already inside a retirement vehicle (like a SEP/IRA/401K) to buy BTC even with potential penalties for doing so. IE should you say sell off a IRA and pay the taxes and fees just to buy BTC? This came from a question on MeWe which was in short…

I’m considering closing my small 401k from my last employer and dumping it in BTC. It’s only about 8k. My thought process is that the growth of BTC ( i am assuming ) will be much more than if I left it in the 401k especially considering that I’m currently not working somewhere that matches any deposits. I’d love to hear your thoughts on this matter as well as maybe redirecting other future savings options into crypto. Thanks.

This is way more complex than it at first appears. It is really multiple questions in one and I do my best to answer it as completely as possible today.

Note – If you want to ask a question for a future Episode of Miyagi Mornings the best thing to do is follow me on MeWe here and then see the sticky post at the top of my profile, post your question in the comments and it is pretty likely I will at some point cover it. http://mewe.com/i/jackspirko

Comments

Should You Buy Bitcoin with Retirement Money – Miyagi Mornings Episode-92 — 2 Comments

  1. In theory, I like the concept of BTC. I have two concerns though. First, it’s completely dependent on an electronic “purse” presumably safe. I do not believe anything is un-hackable in this day and age and once stolen cannot be traced. Secondly, the origin of BTC is completely unknown, it just appeared out of nowhere. The originator is a fictional character (“Satoshi Nakamoto”) that can not be vetted or scrutinized. I assume whomever built it can break it. Would you buy a car without knowing who produced it?
    I can’t help but think this might be a grift of historic proportion or some sort of ponzi scheme set up to siphon off liquidity on a global scale. Call me paranoid, it just doesn’t feel right. I recently found you, love your stuff. I’d like to here your feeling on this.

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