Here's something I was contemplating this morning: If I withdraw $100K from my Rollover IRA (which is in FBTC), it would cost me about $40K due to taxes and penalties. However, considering the dollar's inflation rate of approximately 7% per year, if I take the remaining $60K and invest it in Bitcoin, it won't be subject to that inflation.
So, in 10 years, when the dollar's value has diminished, I would significantly benefit from having Bitcoin, right?
Additional information: - I've earned $100K on FBTC in the last 4-6 weeks since it started, so taking the tax hit would merely mean relinquishing some of the recent profits. - I'm 52 years old and also have a separate 401k (the rollover is from an old job).
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
π° Install these recommended apps:
π² SocialGood - 100% Crypto Back on Everyday Shopping
π² xPortal - The DeFi For The Next Billion
π² CryptoTab Browser - Lightweight, fast, and ready to mine!
π° Register on these recommended exchanges:
π‘ Binanceπ‘ Bitfinexπ‘ Bitmartπ‘ Bittrexπ‘ Bitget
π‘ CoinExπ‘ Crypto.comπ‘ Gate.ioπ‘ Huobiπ‘ Kucoin.
Comments