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I'm not really a fan of having my life savings just a hack away from being stolen. I am infinitely more confident in my retirement savings being managed by Schw

I'm not really a fan of having my life savings just a hack away from being stolen. I am infinitely more confident in my retirement savings being managed by Schwab or Fidelity than any possible way of crypto, online, offline, or whatever. I don't need to worry about insurance, or picking the wrong insurance vendor!

dbcurtis 4y ago
But you do have insurance. For some of the amount. You just didn’t pick the vendor. Or have to think about it. You are, in a way, making my point.
- roland35 4y ago
  I don't think I understand. Fidelity 401k - Millions of people put in their paychecks, millions of people have withdrawn successfully in their retirement. An unsophisticated investor will not lose anything. Crypto - no way to know what, if any, company is legit. If I use a hardware wallet and lose it I'm screwed. FTX seemed pretty legit a few weeks ago, they even had an NBA arena named after them! There are dozens of ways an unsophisticated investor can lose everything.
  - dbcurtis 4y ago
    Isn’t Fidelity FDIC insured?
  - junofan 4y ago
    Fidelity is insured through Lloyd’s of London, among other vendors. You pay for that insurance as a customer. There is no reason a company with infrastructure based on different technology could not also purchase insurance.