This is worth saving for the futureā¦
yep iād say so, better to save as much as possible and get bitcoin yourself, then when youāve got a bit more consider it.
And of course they are significantly prone to moving the goal posts!
you might be right but itās also a little ambiguous.
"Yes, there are caps on the tax-free amount you can withdraw from your superannuation account after age 60 as a lump sum.
The tax-free amount you can withdraw from your superannuation account as a lump sum is determined by the components of your superannuation balance. These components are:
Taxable component: This includes any investment earnings and employer contributions that have not been taxed.
Tax-free component: This includes any after-tax contributions you have made to your superannuation account.
If you are aged 60 or over, any lump sum withdrawals you make from your superannuation account are generally tax-free, regardless of the amount withdrawn. However, there are caps on the tax-free amount of your superannuation benefit, which are determined by the transfer balance cap (TBC) and the total amount of tax-free and taxable components of your superannuation account.
As of 1 July 2021, the transfer balance cap is $1.7 million. This means that the maximum tax-free amount you can withdraw as a lump sum is equal to the balance of your tax-free component, or the remaining portion of your TBC if your tax-free component is less than your TBC.
It is important to note that these caps can change over time, so it is recommended that you regularly review your superannuation account and seek professional financial advice to ensure you stay within the limits.ā
The issue may well be bitcoin price appreciation by the time you retire could well mean youāre multiples higher than the transfer balance cap, what ever that may be at that point in time.
So in todays money your first $1.9m will be tax free but probably 15% on anything above that and maybe 30% on anything above $3m maybe.
Whatās missing from bitcoinsuper.io to make it easier?
The freedom once youāve done it means youād never go back.
Could be one of the most valuable PoW activities any Australian could complete for themselves and their generations to follow!
š¤Æ
It takes more time and effort to get your superannuation funds out of a managed fund and into a #smsf
Might be worth thinking about why itās a good idea!
bitcoinsuper.io
Wonder if the drum beats are being heard! Get your superfunds into a SMSF and buy #bitcoin and self custody!ā¬
This would be a great improvement not only for women but ensuring you can DCA your super into #bitcoin as regularly as you get paid if your employer is currently a douche!
There's no minimum balance required to set up an SMSF, but it usually becomes cost-effective once you have a balance of $250,000 or more. However if youāre moving 100% bitcoin Iād argue any amount is fine.
Thereās no lower limit
How do you imagine the investments your superannuation funds are making will be impacted by this? Do you know what your funds exposure is? Do you trust the fund managers valuations and over stated performance of your fund?
How would it feel if all your superannuation funds were in #bitcoin in self custody where they arenāt being gambled with?
Buy #bitcoin and self custody...
If you ever needed confirmation of what a shady bunch of grifters real estate agents are look no further.
Like a shitcoin convention. š¤®
Agents of Influence https://g.co/kgs/6G4LF6
Totally agree, itās why I think this is such a daft ideaā¦ #[2]
Whatās the block reward when you retire? If hash rate keeps growing as it is, how much hash rate is going to be competing for how much block reward when you retire.
Have you got enough #bitcoin?
One of the most redeeming features of Nostr is the lack of a curation algorithm, importing twitters sounds like a terrible idea!
Nostr just needs to keep being Nostr!
You could call it the silage bot!
