Liquidating my crappy 401k to buy more crypto currency

I've had this rollover 401k since before I started working for myself (left over from my architecture days, which is another story) and it pretty much tanked during 2008, but was never very much to begin with. After getting a quarterly statement from my company Vanguard the other day I realized that having my money, even as small amount as this is, with them invested in mutual funds was pretty much pointless and the gains were not much more then the fees they were charging me each year.

After thinking about it for a day I decided that it would be best served if I took that 401k money and pulled it out of Vanguard and used it to give me a decent starting pool for beginning my adventures into trading crypto currency. Maybe this is a bad idea, maybe it will turn out to be a great idea. I am sure some people are saying "NOOOoooooo" don't sink retirement money into the crypto market, but what is the point of leaving money with someone like Vanguard who is only using it to their benefit and giving me almost nothing in returns? If it were a significant amount of money I might agree with you, but this was kind of a leftover account and is sitting at just around 2k.





While it's not a lot to work with, this combined with the bitcon that I already have should help me get my feet wet in trading and get used to doing it on the regular. NOW, the big question is what do I buy? That's a hell of a lot of Steem!

Leave me thoughts about converting your 40k1 into the cryptomarket. Am I a crazy guy with a sweet mustache or a genius, again, with a sweet mustache??

Here is a link to my post on Steemit - https://steemit.com/money/@cryptostache/liquidating-my-crappy-401k-to-buy-more-crypto-currency

Shea Newkirk

The ‘Stache
Howdy! My name is Shea Newkirk and I have been a Bitcoin supporter since 2014. I am immersing myself in the cryptocurrency world and I decided to jot down my story as things unfold. I am a designer, coder, musician, gamer, father, blogger, entrepreneur & more. Learn from my mistakes and rejoice in my triumphs because the ‘Stache is set to disrupt the crypto world!

Comments

    1. The 'Stache Post
      Author
      The 'Stache

      Yeah this was in no way my entire savings, just a leftover from an old job. It went extremely well actually. I made pretty great returns in 2017 and it was mostly from that investment.

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