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Im thinking about cashing out my 401k and put it into a bitcoin IRA account, My hopes are to find a company that has 3 keys so even if that IRA company goes under I will still have access to get my money back by taking control.

My concern is how can I do this without having to pay TAXES on this money.

Any Ideas?

#grownostr

Graham 2y ago

I will soon be doing the same via SwanBitcoin.com. I don't think there is a taxable event transferring from one to the other.

#growNostr

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Discussion

NurseWang 2y ago

There is a way. I have "Unchained Capital" as the holder of my Bitcoin IRA. When talking about this with them, you can transfer from a 401K/403B into a Bitcoin retirement account, but if you're still working with the company that your Retirement Fund is with, you'll have to get their permission to move the funds. This is without tax consequences. I was sadly not able to get permission.

Lee Sheppard 2y ago

I will check more into this as I just trust btc more then the usd

NurseWang 2y ago

Same. I plan to leave the company within the next 2 years, and I keep thinking it might be more profitable for me to jump ship now and transfer all my 403b to BTC asap

Lee Sheppard 2y ago

I guess I’m not the only one thinking about this.

Lee Sheppard 2y ago

Swanbitcoin told me I have to cash out then move it by the help desk guy and direct me to someone that might be able to find a way to avoid it as if I cash out I will have to pay tax on it and that’s what I’m trying to avoid.

Michael S Wildcard ✨ 😶‍🌫️🗽⚡ 2y ago

If you cash it out, why would you want to put it back into another government program? I would just put it directly into a hardware wallet.