Saving for retirement at a young age.

Read today Bitcoin is predicted to go up to somewhere between $400,000.00 - $600,000.00 each. If I can find the article again, I'll post it. Hindsight is 20/20; I don't own any!!!

A few months ago some guy in Las Vegas put his expensive home; over a million, on the market and wanted Bitcoins only from any buyer. Don't know how it worked out or if he found a buyer.

 

Bitcoin is driven by market mania, much larger hands control the s/p/. The chart is straight up and no financial investor worth his salt would invest a nickel of clients money in bitcoin. It will fall and fall hard. When it does suicides and financial disasters will be news of the day. Many Japanese are investing in bitcoin on margin. Just ludicrous. But we just do not know where the top of range is, could be today, could be a year from now.

 

Funny story, IF I would spend 1000 on bitcoin when it was worth 400, now it would be cost 1$...0 luck whatsoever in my life

 

I have been watching it. Wish I had bought some when it was just starting up. Wasn't even on my radar at that time.
Bitcoin will reach $400,000, says investor Mark Yusko

I am staying away from it because of its volatility. I think it is a big blip on the radar and will ultimately be worth $0 at some point. The gains are so insane though if someone had put some real money in at the beginning it could very well make a few of the world's first (known) trillion-aires.

Can't quit my day job just yet

 

Well, not an IRA per say.

IRA's can utilize ETF's, the exchange trade funds- but I'm talking about going straight into ETF's, in a way that you can buy and sell without the traditional "early retirement penalties" .

It would be nice to invest 5k this year in ETF's, and be able to subtract that from my gross income. [since technically it is like a business expense, the business of investing in other business]

 

LOL, no it is not a tax deductible investment.

IIRC you can withdraw the invested principal out of a Roth pre 59 1/2 without penalty. Also, if you want to retire early, you can submit an early withdrawal plan from an IRA without incurring the 10% penalty.

 

There aren't any tax advantages to an ETF... unless maybe your cpa is a former Enron employee.

 

Life expectancy of OTR driver is only 61 years so I would think retirement is short if it is even reached before pushing Daisy’s

 

That age is probably about right for chain smoking, pill popping, paper log drivers. Those days are over and that's a good thing! I used to be one of them and I'm glad it's over!

 

Obesity which runs about 70% for OTR drivers and sedentary life style is as deadly as smoking and pills.