Liquidating my crappy 401k to buy more crypto currency

in #money7 years ago

I've had this rollover 401k since before I started working for myself (left over from my architecture days, which is another story) and it pretty much tanked during 2008, but was never very much to begin with. After getting a quarterly statement from my company Vanguard the other day I realized that having my money, even as small amount as this is, with them invested in mutual funds was pretty much pointless and the gains were not much more then the fees they were charging me each year.

After thinking about it for a day I decided that it would be best served if I took that 401k money and pulled it out of Vanguard and used it to give me a decent starting pool for beginning my adventures into trading crypto currency. Maybe this is a bad idea, maybe it will turn out to be a great idea. I am sure some people are saying "NOOOoooooo" don't sink retirement money into the crypto market, but what is the point of leaving money with someone like Vanguard who is only using it to their benefit and giving me almost nothing in returns? If it were a significant amount of money I might agree with you, but this was kind of a leftover account and is sitting at just around 2k.

While it's not a lot to work with, this combined with the bitcon that I already have should help me get my feet wet in trading and get used to doing it on the regular. NOW, the big question is what do I buy? That's a hell of a lot of Steem!

Leave me thoughts about converting your 40k1 into the cryptomarket. Am I a crazy guy with a sweet mustache or a genius, again, with a sweet mustache??

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ABSOLUTELY!
Those guys are total criminals anyway; they ONLY RUN A RIGGED GAME...

People don't realize it's such a huge ripoff, but the gov rigs the 401Ks so you have to go thru these aholes and that's all the collusion that's happening; the tell you want to think, what to do, and you follow thru, or pay taxes thru the nose, U decide!

EXACTLY! I had this account from like 12 years ago and I have dont nothing with it. Time to put it to work in crypto!

good for you bro! you are very crazy but that's what it takes man, I'm dropping out of college to work more and invest more, in 3 years then we'll see whos crazy

Crazy now and MAYBE broke later, but I think this mustache will have the last laugh. That money wasn't doing jack for me sitting with Vanguard.

Follow me bro I am doing the same thing. It's a wild ride!

Following! Yeah I like the ride so far ( and with this mustache the ladies don't mind either!)

LOL. thanks for the follow man. hope you enjoy my content as i enjoy yours.

This is a great post. thanks for sharing this excellent work @cryptostache

Thanks, check out my blog for more - www.cryptostache.com

Stop spamming comments

Right? Seems like a lot of bots and spammers on steemit.

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