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21 sats \ 8 replies \ @zapsammy 8 Jul \ parent \ on: Stacker Saloon
u believe in fiat retirement accounts...
What does that even mean? Do you not believe that there are such accounts?
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Pardon me for not knowing I would someday be all in on bitcoin, which didn't even exist when I took this job that had these benefits.
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If I thought you were serious, I wouldn't have responded with my own sarcasm.
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how much do u need saved in bitcoin in order to quit, withdraw all, pay the fiat-use penalty, and start somewhere or something else? i don't believe in being able to ever make substantial use of the so-called retirements account by the expected age of retirement. they are all going to zero or to a strict allowance schedule. once i accepted this reality, i took the necessary steps.
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I understand the perspective of taking the tax penalty now to have bitcoin under my control, rather than putting it in an ETF.
The thing is, I hate taxes more than I love bitcoin and weird stuff happens over long enough time horizons. It's entirely possible that there will be opportunities to get out of these retirement funds at much lower tax rates sometime in the next several decades. In that event, I'll be able to get the best of both worlds.
I'm glad you got your financial house in order, to your satisfaction.