Reddit Posts
Mentions
I'm in my late 50's. I went on a search for a financial advisor and Bitcoin was my litmus test. Result? I'm my financial advisor. My entire Roth is in actual Bitcoin in cold storage (multi-sig). Around half of my SEP IRA is the same...the rest of it is in MSTR and IBIT. I hold zero bonds. My plan is to retire in 2029. No...I will not be cashing out then. I will live off of it or borrow against it.
----- Not financial advice. Simply my own path. ----- Have you read the Bitcoin Whitepaper or a book called Broken Money, or even better (and this one was ahead of its time) The Bitcoin Standard? I definitely recommend all three. If you don't agree with the fundamentals of what Satoshi was aiming for, that's okay. But I've dedicated the last 6+ years to understanding (to the best of my ability) why he created Bitcoin, and I enjoy reading things that elucidate these views and in fact the opinions of detractors. But unfortunately it is the detractors that sort of kept one of my feet inside the world of fiat for far too long. It's my own choice and fault at the end of the day, but the amount of FUD you'll find on almost every single non-crypto financial subreddit is staggering. Mostly because it is all wrong. Objectively. Time will prove this. I recently saw a redditor write that "People will buy Bitcoin at the price they deserve" a few days ago, and it is one of the most poignant things I've ever read on the topic. And one of the most truly accurate. Yeah, I've made good money with LETFs and VT has been kind to me. But had I just put my money in Bitcoin instead of messing around with that stuff, I would have made more money than I'm prepared to admit. And to be honest, money isn't massively important to me on a personal level. I am certainly not happier because I can pay my bills. I simply grew up very poor, but l knew I had the ability to turn $ into $ if I dedicated enough time to learning on my own. Never did I think it would come to turning $ into BTC. And never did I think I'd come to see BTC as a true asset - one that could and has changed my life and the lives of so many others. I will continue on this path and try to leave as much of it behind as possible when I'm gone, and help ppl along the way while I'm here; living life under a true Bitcoin standard as soon as possible. So there is no second or third best option. There are just.. other options. And because BTC ETFs are a thing, they are viable options to protect against the unthinkable (lost keys). Again, not financial advice here, just a portion of my own path - *Pay down debts and build an emergency fund (6-12 months of salary) with a HYSA. DCA into BTC ETF(s). *Get marketplace insurance with a high enough deductible / use employer options to have a HSA and DCA into that with the aforementioned method. *Repeat the previous step with earned income into a Roth IRA. *If self employed, repeat previous step via solo 401k and/or SEP IRA. *If fortunate enough to be able to do all of this at once, good times. Obviously, IMO, utilizing actual BTC above all other methods is the most important one. But those are some other options to consider. Definitely not better, but helpful as hedges. They're definitely not in line with what BTC is all about, either. Or don't do any of that and hope that fiat doesn't continue to lose buying power and that BTC doesn't become the world's financial standard. I just suggest reading some things and taking a good look into - and understanding - Bitcoin before it's too late. These first 16 years will be dwarfed by the growth of the next 8. But I'm just a dude on the Internet. I would be looked at as a space lizard if I said this to almost anyone I know. And have been, lol. I wouldn't bother writing any of this outside of a Bitcoin forum, either. Most people will tell you it's all speculation. And I mean, speculation isn't necessarily bad. Diversification isn't either, especially if you're already at the point at which you do not at all worry about your finances. ----- Again, I repeat, this isn't financial advice. This is a version of my story. Do your own due diligence. -----
Hey There! You're in luck, you can self-custody bitcoin in your SEP IRA - you hold and control your keys - same great SEP. [https://x.com/socraticBTC/status/1883689256583045424](https://x.com/socraticBTC/status/1883689256583045424) It's easy to do, with the right self-directed IRA custodian. message me and I'll help you get set up and answer any questions you have.
Yeah, I get where you're coming from. Self-custody is the goal, but tax advantages are hard to ignore. If you're self employed with a SEP IRA, using it for BTC exposure makes a ton of sense. You're getting tax benefits while still stacking sats. If you're uneasy about not holding your keys, maybe do a mix keep some BTC in cold storage for long term security and use the IRA for ETF exposure. MSTR is an option, but its leveraged and tied to Saylor's decisions, so its riskier than a BTC ETF.
In the middle of trying to fund my SEP 401k. Wish I could move the money today but wont be able to until tomorrow which means wed is the earliest. But I'm buying $20k of ibit. Just like last year. Account is already up 80%
He didn't mention Roth, I did because that is my situation. Yes, if you move from regular IRA or Simple IRA or SEP IRA to Roth you must pay tax based on the bracket you are in when you move it, since Roth is a post tax vehicle, independent of whether bitcoin is involved or not. If he were to move from an IRA of any type to a regular (non-Roth) bitcoin IRA it would not be a taxable event if it's transferred in kind from one financial institution to another who both offer IRAs. The banks send a wire or a check directly to one another, or at least that was my situation. He would be able to own "real bitcoin" under the shelter of an IRA. With a regular IRA, he'd have to pay tax when he takes funds out (after 59.5 with no additional penalty and an extra 10% before that), and would have forced distributions starting at age 73. If someone doesn't want to sell their bitcoin, that's not the move. Thanks for the follow up question. This is not financial advice!
This makes no sense. "tax sheltered ETF" isn't a thing. Specific account types can be tax sheltered. If your account isn't an IRA, 401k, or SEP, you're paying taxes on capital gains whether it's an ETF or self held.
I hold real Bitcoin in a Roth IRA and in a SEP IRA.