So what is the path for a say 70 years old (not computer savvy) person whose assets are in IRA.. if she pulls out all her money, she needs to pay hefty tax ( almost 30 %) right at the gate in the year of withdrawal.. she wants to keep her money with an institution she trusts (and has contacts with) , but also wants to participate in #btc economy.
Discussion
She could start pulling out in increments....and ask her grandkids (?) to help her self custody.
She has to take required minimum distributions from the IRA at 73... She can take those withdrawals ea year and reinvest in sats.
Government likely will try to raise taxes so might want to consider front running them by pulling more out of the IRA now....
Maybe speak with Morgan Richard who is a CFP and BTC money manager. đ
Bigger possible issue is taking custody in self directed structure as the trustee may be regulated like gold. no official guidance yet but itâs coming. They wanna force you into their Bolshevik banking cartel custodians/ ETFs. Unchained has an interesting solution but then youâre giving control to a custodian like Solera for 1 of 3 keysâŚbecause the IRS wants to ensure there is a reporting mechanism if and when your assets move. Itâs a serious problem that few understand or can solve forâŚwhich is a shame because most of the fire power lives in qualified accounts. If weâre gonna win on this front we need better solutionsâŚotherwise folks are gonna capitulate and feed the beast via ETFs.
after much thinking my conclusion is custody is for next generation.. most of my gen and older would Max use ETFs .. only few fifty plus have the tenacity to learn , understand and maintain self custody .. even those who do , will never go full throttle because risk appetite diminishes with age .. most of us would be stuck in ETFs or exchanges at best .. but it is not a bad thing , at least youngsters can own their money and it sure puts a check on unhinged printer :-)
it's a lotta brain cycles on super boring uncreative bullshit. rather be gardening, shredding, or chasing the kiddo around.