Need some nostrich opinions... I've got an ira currently invested in fiat securities that I want to turn into bitcoin.
Better to liquidate, take the penalty, convert to bitcoin, and self custody
Or
Roll over to swan ira (or similar) and risk custodial but no penalty?
Rollover to a Unchained IRA. You hold 2 of 3 keys in a multisig. No need to liquidate.
Don’t trust, verify 😎
Liquidate. Same boat here
Liquidate + penalty
The penalty is a small guaranteed loss in the short term... But the custodial has a good chance of permanent total loss 😖
Ooooof permanent total loss. Just saying it out loud hurts.
Not your keys, not your coins 💔
FACTS
I would roll it. The penalty is massive, and a good Bitcoin only custodian like Swan will probably still be around when you turn 59.5. There is some risk of total loss, and you should hold your own keys with future savings, but the reward of avoiding the penalty justifies the risk, in my opinion.
Based off my math, if I roll it over to unchained ira, I'll be losing roughly 8% of my total balance, spread over the course of xx years i have remaining until retirement.
If I call it right, I'll be taking a one time hit of 19% (penalty + tax) if I liquidate. That's nearly 2.5x more.... !!!
Liquidate, take the hit, self custody, fuck swan.
Going down this route. They wanted me to update my address. Now i have a 7 day hold on withdraws.
7 Days! Fuck banks so hard.
Ooof. Damn. That hurts.
"We know it's technically your money but since you didn't give us what we want in a timely fashion, we're gonna deny you access for a bit. Eat shit pleb"
- Best regards
Banks.
