When your debt-laden finanically-illiterate (her words) sister in law hires a financial advisor and then asks your wife if your job offers a 401k with matching... 😂
Oh hang on a sec, let me stack softer so I can tie up some dollars for the next few decades with a hope of 3-5% net annual interest because my company will MaTcH mY cOnTrIbUtIoNs
#bitcoin
Retirement accounts kill the capital that’s put into them. Huge scam.
Matching money is 100 percent return in the first year. Why wouldn't you? Some 401ks allow ETF investing. So someone could double their money and then buy BTC ETF.
A couple reasons: math, flexbility, and the inability to self-direct.
Yes, there's a 100% return in the first year, and then what? Bitcoin will put out multiple 100% returns over the same several decades.
You're giving up freedom money for locked up money.
Many 401Ks, including mine, are not self-directed, or at least not completely self-directed, meaning you can't treat it as a brokerage IRA. Your options are limited to basket funds, typically labeled "Target 2050" or some such nonsense.
Mine allows 50 percent of the funds to be in a brokerage and IBIT ETF is one of the options.
