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I don't think too many "peasants" have LLCs so they can use their IRAs to invest in crypto.
by anamexis 5y ago
I don't think too many "peasants" have LLCs so they can use their IRAs to invest in crypto.
- kodah 5y agoI was thirty when I started making "real" retirement money. I suspect peasant is an exaggeration, but there's a good chunk of highly paid folks that are playing catch up to retirement or have reached retirement but still need to build their own safety nets and cushions as the cost to retire continues to go up, even when retired.
- caseysoftware 5y agoThere are companies like Rocket Dollar that handle the paperwork for you for $15/month. Not mainstream but not a secret either.
- jfrunyon 5y agoI don't think too many "peasants" would be able to make $15/month from it, much less any actual gain.
- ImPostingOnHN 5y agoI think many could
- idiotsecant 5y agoNo? I think just about any dummy (myself included) with a RD LLC that put money into crypto Q3 of last year paid for centuries of RD fees in a few weeks. The whole point is that it's a casino with some rational guesstimates behind it. You take a chunk of your retirement that wouldn't sting too bad if you lose it and you invest it in something that is wildly speculative but that you think has a high upside. Either you go broke with a small chunk of your total nest egg, or you turn that small chunk into something many times the size of your "main" nest egg.
- idiotsecant 5y agoTrust me, compared to the people moving real money in these markets we are all peasants.