Re: How and why to hold bitcoins in your Roth IRA (yes, you can do it today!)
I definately will. I will get the ball rolling this week.
I should probably tip you for this advice that could save me much money down the road.
I should probably tip you for this advice that could save me much money down the road.
Just make sure you read his first post! I think it's a great idea. But it isn't cheap. And I wouldn't try it on your own without a CPA involved. You have to be real careful of any self dealing or self interest in setting up an IRA/Roth IRA like this. And if it's just regular Roth you're limited to a $5,500 investment each year. Unless of course you still have some IRA/401k money, then roll into this and convert any amount you like.
Good luck!!
I absolutely agree. It's not cheap. It's not effortless. There are restrictions on what you're allowed to do, and the penalties can be severe if you break the rules. Be careful!
However, if bitcoin really explodes, depending on the size of your investment, this could potentially save you hundreds of thousands of dollars in capital gains taxes.