Should the Teamsters/UPS 401k plan allocate to Bitcoin ETF when approved?

[Over70irregs]

Moderators: Allow the people to vote for a week prior to moving post if possible. https://www.cnbc.com/2023/12/22/the-spot-bitcoin-etf-race-could-quickly-reach-your-401k-plan.html

 

[BadIdeaGuy]

Moderators: Allow the people to vote for a week prior to moving post if possible. https://www.cnbc.com/2023/12/22/the-spot-bitcoin-etf-race-could-quickly-reach-your-401k-plan.html

Bitcoin is not appropriate for a workplace 401K, just like investing in Rolexes is not.

It may be a good investment, but a retirement fund should be investing in more tangible, less volatile investment vehicles.

Just my personal opinion.

 

[UnionStrong]

Bitcoin is not appropriate for a workplace 401K, just like investing in Rolexes is not.

It may be a good investment, but a retirement fund should be investing in more tangible, less volatile investment vehicles.

Just my personal opinion.

I don’t know, the Rolex I bought in 2008 for 6600 is worth 15k now. Just saying.

 

[catstalking]

the real question is what else would it invest in? govt bonds are a liquidity scam

 

[IVE GOTTA PACKAGE 4U]

No

 

[GameCockFan]

You should be able to move a portion into an SMA and then buy any stocks/etfs you want. The risk is on you.

 

[oldngray]

 

[pkgdriver]

You should be able to move a portion into an SMA and then buy any stocks/etfs you want. The risk is on you.

They do have some restrictions on what you can buy/hold.

You may not invest your SMA in foreign stocks, non-listed limited partnerships, commodities, futures, options, tax- free bonds and tax-free bond funds, or precious metals. Additionally, you may not engage in short selling (selling securities that are not held in your SMA) or trading on margin (borrowing money using securities in your SMA as collateral)

It has affected me a few times with a limited partnership,SPAC(s)and USO etf. The USO sends out a K1 form I believe so the fund had me sell it. Oilk doesnt and has been ok for me to buy. BITO(non spot/futures bitcoin) has been ok so far. A couple Gold and Silver Etfs have been accepted also.

The above is not an endorsement of any of these for YOUR 401k.

 

[IVE GOTTA PACKAGE 4U]

They do have some restrictions on what you can buy/hold.

You may not invest your SMA in foreign stocks, non-listed limited partnerships, commodities, futures, options, tax- free bonds and tax-free bond funds, or precious metals. Additionally, you may not engage in short selling (selling securities that are not held in your SMA) or trading on margin (borrowing money using securities in your SMA as collateral)

It has affected me a few times with a limited partnership,SPAC(s)and USO etf. The USO sends out a K1 form I believe so the fund had me sell it. Oilk doesnt and has been ok for me to buy. BITO(non spot/futures bitcoin) has been ok so far. A couple Gold and Silver Etfs have been accepted also.

The above is not an endorsement of any of these for YOUR 401k.

Yeah you don't want anything that gives a k1 form because it could disqualify your whole 401k

 

[Over70irregs]

the real question is what else would it invest in? govt bonds are a liquidity scam

Bonds are a drowning ponzi

 

[Over70irregs]

Bitcoin is not appropriate for a workplace 401K, just like investing in Rolexes is not.

It may be a good investment, but a retirement fund should be investing in more tangible, less volatile investment vehicles.

Just my personal opinion.

I see your point. They will NOT have a choice though. The people will demand it.

 

[Over70irregs]

I don’t know, the Rolex I bought in 2008 for 6600 is worth 15k now. Just saying.

Sell it now.

 

[UnionStrong]

Sell it now.

I’m giving it to my son.

 

[Over70irregs]

I’m giving it to my son.

Hard to argue with father/son moment. …… but when he gets older….

 

[UnionStrong]

Hard to argue with father/son moment. …… but when he gets older….

He’s 35. He just got engaged, I’m sending it out to be cleaned, polished and replace all the seals. Wedding gift. When he gets older he can do what he wants with it. I’ve given him some expensive collectible firearms too. Can’t take it with me.

 

[I have NOT been lurking]

I’m giving it to my son.

He’s 35. He just got engaged, I’m sending it out to be cleaned, polished and replace all the seals. Wedding gift. When he gets older he can do what he wants with it. I’ve given him some expensive collectible firearms too. Can’t take it with me.

 

[Over70irregs]

View attachment 460759

MicroStrategy's bitcoin bet produces over 300% gain for investors in 2023 — CNBC

MicroStrategy began buying bitcoin in 2020 and has since become a popular way for investors to get exposure to the cryptocurrency

apple.news

 

[Over70irregs]

He’s 35. He just got engaged, I’m sending it out to be cleaned, polished and replace all the seals. Wedding gift. When he gets older he can do what he wants with it. I’ve given him some expensive collectible firearms too. Can’t take it with me.

You can take 12 seed phrases with you anywhere in the world and to the grave. Few

 

[RTS313]

He’s 35. He just got engaged, I’m sending it out to be cleaned, polished and replace all the seals. Wedding gift. When he gets older he can do what he wants with it. I’ve given him some expensive collectible firearms too. Can’t take it with me.

I ask for your sperm
want to clone you

 

[Over70irregs]

I ask for your sperm
want to clone you

Awwww hell no……