Good for the goose but not the gander. They wouldn't vote on something that would impede their wealth. Easy solution that will never happen. Term limits and while in office freeze on trading stocks they own before being swore in, can put money into an IRA and TSP (government 401k) but only index mutual funds.
I don’t get mad at anyone who’s in crypto who also uses the stock market to hedge their bets. Me personally, that’s what my TSP/401k is for. For the most part, I have a diversified crypto portfolio. I don’t think it’s a matter *if* crypto is here to stay, I believe it’s *which* cryptos are here to stay.
If you don’t invest in a savings account and some sort of 401k, TSP or other stock based investment on top of your crypto, you’re balls to the wall and in much more danger of losing the house. You have a chance at coming out on top, but not as good a chance as someone who diversified.
If you are about to join the military, put a large chunk of your money into the TSP. The military will match your contribution up to 5% giving you a very nice nest egg once you retire or can transfer over to a 401k when you get out. Not quick money now, but you’re setting future you up for great financial success.
I mean being cheap and investing in whatever asset you believe in is the way to go. Especially now, I am 37 so my chance at building my retirement is dwindling. Got the investments in my jobs TSP and digital assets on the side. DCA till I die 😜
I'd pull almost all of it out of the crypto market. Crypto is only about 20% of my investment portfolio, and obscure shitcoins are a very small portion of that. I invest in ones that seem to have meme value and then sell them as soon as I think they've peaked, which is usually a few days after they become mainstream. If I invested poorly and the coin just vanishes I lose nothing of consequence, but on Shib I got lucky and got 130x my investment by selling the moment it flippened DOGE, a profit firmly in the five digits, for a 3 digit investment. The fundamentals of investing do not change just because I made stupid money on one asset. I always have my investments structured so that the total collapse of an entire market wouldn't ruin me. I'm in a couple dozen different cryptos in moderate amounts, I never sit on over 20k of any specific crypto, even BTC or ETH. I have a diversified stock portfolio with no more than 5% of that money in one specific stock. I also have a TSP with 5% match from my employer (the government) on track to be worth about 1.5 million by the time I retire, and real estate, and a decent amount of physical precious metals and common ammunition like 9mm. If I suddenly had a massive windfall in one asset, I would divert that money immediately into all of the other assets I could without screwing myself on taxes, so the profits are protected from any sort of collapse. Investing isn't gambling, and putting all your money in one market is like putting all your chips on black. Also, just because you don't have to work any more doesn't mean you stop working. I've done well enough in life that I actually probably could never work again and live comfortably on my current assets for the rest of my life, but that's kind of a sad existence. I'm no workaholic but I have no idea what I'd do with my life if I wasn't doing SOMETHING productive. I had about a month in the military where I was basically getting paid to do nothing, I sat around playing video games and shit all day, and it was fun for like the first two weeks but by the end of the month I was so done with it.
I wanna know if it’s a good idea to take my Thrift Savings Plan (TSP) working for the federal government and take the contributions down from 15% of my salary down to 5% just to get the match they offer and take the additional 10% and dollar cost average into Bitcoin? I have a personal Roth IRA outside my TSP that’s invested into mostly Apple and a little bit into a Bitcoin mining firm (BITF). Is this too much exposure to Bitcoin having the mining firm and a separate taxable crypto account? I want some opinions please.
Buuuuut I could take out a TSP loan because it has been ripping for the past year or two (taking some profits) that will be paid back at like a 2% interest rate…that’s paid back…….to myself!! Oh look BTC is also on sale atm!!