How does one yeet their 401k into bitcoin without the early withdrawal penalty?
Discussion
If your 401(k) or Roth provider allows you to select your own assets, which is rare, you can request a transfer of assets & swap into something like MSTR or IBIT. I swapped a fat chunk several months ago into a fund that had an allocations to MSTR, COIN, XYZ & IBIT… this was the best I could do.
Pay the early withrdrawl fee and get sats in cold storage. Long term, it will still be the best move.
PRETTY SURE YOU CANT - UNLESS YOU QUIT YOUR JOB - THE TOP LEVEL EMPLOYEES AT A COMPANY ARE LIMITED ON THEIR CONTRIBUTIONS BASED ON THE TOTAL AMOUNT IN THE 401K AND MANY WILL NOT ALLOW YOU TO WITHDRAW FUNDS FOR THAT REASON - (AT LEAST THAT IS MY UNDERSTANDING) - THEY ALSO SET THE AMOUNT YOU CAN LOAN YOURSELF AND THE REASONS YOU CAN LOAN YOURSELF YOUR MONEY….
I JUST KEEP MAXING OUT MY LOAN TO MYSELF AND STOPPED PUTTING MONEY IN - I AM ALSO INFORMING ALL MY STAFF OF MY REASONING BEHIND NOT USING OUR 401K AND I SIT ON OUR 401K ADVISORY COMMITTEE AND HAVE ADVOCATED FOR CHANGES FOR TWO YEARS NOW…STILL FALLING ON DEAF EARS 🤦
