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Took out a 401k loan to buy BTC just before the drop - no ragerts
Long term, I believe BTC more than 401k portfolios. I chose one investment over the other and was comfortable with the repayment plan. People demonize loans for crypto, and for good reason. But I'd like to throw this out to consider: 401k loans include a spread of your pre and post tax contributions. This means you get a partial tax advantage investment in btc. You pay interest in 401k loans, but the interest goes to your account. It is, however, post-tax specifically for the interest portion of your payments. Something to consider. Obviously, you can do this before a time of uncertainty. I saw liberation day as a threat, so I noped the heck out. Time is indeed ticking with the price increase of BTC. I wanted a meaningful investment asap while I dca as well. Things to consider. 1. Each employee 401k plan is different. Example: For some, if you lose your job, you need to pay back that loan asap. That was not the case for me. 2. BTC can plummet. Don't chose a huge loan you can't support the interest and payments on if you were to lose your job and BTC becomes half the value from when you purchased it. 3. Nuking your 401k for an all-in on BTC is stupid. Just an opinion. Diversify. I'm not here to promote immature handling of your money by taking out loans on high-risk investments. This is a massive decision and should check every single box before pulling the trigger. But I do want to expand people's minds to ways they can thrift their investments. For me, it was a no brainer win to secure a huge chunk of BTC. submitted by /u/Hot_Establishment216 [link] [comments]
Long term, I believe BTC more than 401k portfolios. I chose one investment over the other and was comfortable with the repayment plan. People demonize loans for crypto, and for good reason. But I'd like to throw this out to consider:
- 401k loans include a spread of your pre and post tax contributions. This means you get a partial tax advantage investment in btc.
- You pay interest in 401k loans, but the interest goes to your account. It is, however, post-tax specifically for the interest portion of your payments. Something to consider.
- Obviously, you can do this before a time of uncertainty. I saw liberation day as a threat, so I noped the heck out.
- Time is indeed ticking with the price increase of BTC. I wanted a meaningful investment asap while I dca as well.
Things to consider. 1. Each employee 401k plan is different. Example: For some, if you lose your job, you need to pay back that loan asap. That was not the case for me. 2. BTC can plummet. Don't chose a huge loan you can't support the interest and payments on if you were to lose your job and BTC becomes half the value from when you purchased it. 3. Nuking your 401k for an all-in on BTC is stupid. Just an opinion. Diversify.
I'm not here to promote immature handling of your money by taking out loans on high-risk investments. This is a massive decision and should check every single box before pulling the trigger. But I do want to expand people's minds to ways they can thrift their investments. For me, it was a no brainer win to secure a huge chunk of BTC.
[link] [comments]
