Buying Crypto with Retirement Funds
I have been looking to gear up for the next Crypto Bull Market which I believe is likely to kick off properly some time in 2024. I had previously sold a fair chunk of my Crypto portfolio in 2021 and 2022 to pay for the house we finished building this year. I didn’t exactly catch the peak prices of the last Bull Market but I did OK. However, today I don’t have a lot of liquid funds to be buying anything so I’ve been looking at different options to build up my exposure to Crypto....
Image Generated by AI
I do have a decent amount of funds tied up in my Superannuation Fund. In Australia we call it Superannuation but it’s basically government forced savings for retirement. In the US they call it a 401k Plan and no doubt in other Western Social Democracies they have other names for them too. Traditionally the Superannuation Funds here have a limited number of choices for you to invest in, you choose from options like High Growth, Diversified or Fixed Income and the bean counters behind the scenes manage the investments for you.
Many years ago I had moved to a new Superannuation product called Living Super from ING Direct and I’ve just found out that they are now being taken over by OneSuper. With Living Super I was able to hand pick specific investments from the ASX300 (Top 300 Listed Companies on the Australian Stock Exchange) and I liked it because it gave me the option to invest directly in Gold Mining Companies plus Gold and Silver ETFs (Exchange Traded Funds). I did quite well with Living Super in 2019 when the Precious Metals went on a tear and I managed to double my accounts value over a few years.
However, today I want to get some exposure to the Crypto markets but I just can’t do it with Living Super so I am looking to set up a Self Managed Super Fund for the extra freedom to chose from an even broader range of investments. I’m currently looking at eSuperFund which provides low cost SMSF set up and management services and they have a built in offering called eBroking which is a front end to CMC Markets Stockbroking that I have already used for share trading. Via CMC Markets you can trade EBTC and EETH which are ETFs for Bitcoin and Ethereum. They also partner with Paxos to offer Cryptocurrency products with trading pairs against the US Dollar for BTC, ETH, AAVE, BCH, LINK, LTC and UNI.
On top of all that I can also use an eSuperFund account to set up a SMSF account with Australian Regulated Exchanges such as CoinSpot or Independant Reserve to get a more direct exposure to Crypto. Of course I know that if I don’t hold it I don’t own it, but the truth is that I CAN'T really hold my own Retirement Funds – by law, so going this route is perhaps a lesser evil.
What about you? Do you have your regulated retirement fund invested in Crypto at all? If so, how did you do it and are you happy with it? It seems to me that retirement savings getting into Crypto could be a massive sector of growth for the next Bull Run.
DISCLAIMER - This is not financial advice
You received an upvote of 99% from Precious the Silver Mermaid!
Please remember to contribute great content to the #SilverGoldStackers tag to create another Precious Gem.
I have been thinking a lot on this… i have a pension plan based in stocks and they are going to bad lol…
In the US it’s usually not possible to invest in crypto assets through a 401(k) since there are typically limited options for investments (often at most a few dozen choices, even for large employers) , but it is possible to move 401(k) funds to an self-directed IRA and then go into something like Grayscale Bitcoin Trust or invest directly in MicroStrategy or another crypto-related publicly traded company.
I did that when I retired (all-in on crypto there) and the smaller one of my wife’s two IRA’s (she’s still working and has a 401(k) too) is crypto-centric.
Nice one. It sounds like your self-directed IRA is very similar to our self managed super fund setup here. Well done on managing your investments to suit your retirement.
That is a wonderful decision, from daily and 4 Hour Time frame BTC is in an uptrend. And I believe that will continue. Buying now is better.
This is just a personal opinion not a financial advice.
Cheers my friend
Here have some free !DHEDGE , lel
This post has been selected for upvote from our token accounts by @trumpman! Based on your tags you received upvotes from the following account(s):
- @dhedge.bonus
- @dhedge.leo
@trumpman has 14 vote calls left today.
Hold 10 or more DHEDGE to unlock daily dividends and gain access to upvote rounds on your posts from @dhedge. Hold 100 or more DHEDGE to unlock thread votes. Calling in our curation accounts currently has a minimum holding requirement of 100 DHEDGE. The more DHEDGE you hold, the higher upvote you can call in. Buy DHEDGE on Tribaldex or earn some daily by joining one of our many delegation pools at app.dhedge.cc.
Hopefully we catch the bull market in a correct way now.
I hope those who invest win
I don’t even have a retirement fund yet, lol
I’m sure I’d have that someday since it is a gradual process but that’s a good one for you
I have 99% of my Retirement funds sitting in GIC’s (Guaranteed Investment Certificates) earning 6% APR … this way I can invest all other $$$ directly into Bitcoin… No mutual funds, ETF etc etc etc… just straight Bitcoin.
There’s no such thing here in the states. Wish there was….
If you can look for fund elsewhere, I think it's going to be a good idea investing for the future with Cryptocurrency.
Hello buggedout!
It's nice to let you know that your article won 🥉 place.
Your post is among the best articles voted 7 days ago by the @hive-lu | King Lucoin Curator by nuthman
You and your curator receive 0.2925 Lu (Lucoin) investment token and a 6.22% share of the reward from Daily Report 128. Additionally, you can also receive a unique LUBROWN token for taking 3rd place. All you need to do is reblog this report of the day with your winnings.
Buy Lu on the Hive-Engine exchange | World of Lu created by @szejq
STOPor to resume write a wordSTART