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I have ~7% of my NW in crypto. Should I increase? 100 crypto 900 index funds (Ira/401/brokerage) 150 cash 400 condo equity 18yoe, TC 590 #personalfinance #investments
590 tc wtf?
Haha good or bad? I never had this TC in my life, finally joined a FANG a year ago.
Oh my bad I thought you said that you were 18 years old. That's great congrats
Why are you holding so much cash…? I’m sure you’ve thought about your rainy day fund and shit, but that feels high to me.
I dunno probably laziness. Also a little scared with the market running so high during a pandemic
Would you put half crypto or brokerage if you were me?
Too much cash, just hold enough to cover 6 months expenses, it's losing value quickly. I would increase crypto to 10%. Even institutions are being recommended 5% now. Countries and institutions holding crypto is inevitable now from game theory perspective. And as that volume grows the value grows as well.
I’m about to start matching my 401k contributions with crypto
Low NW for TC and YOE. 🪦
Thank you for this valuable input.
$100k crypto is very big numbers when considering high volatility. You might maximize crypto investment in Roth IRA(if you are eligible). This way you would save taxes when your crypto investment is multiplied in future
Crypto is a pyramid scheme
Yes,There are many DeFi platforms running in ETH and BNB chains are exactly like Pyramid scheme , those would be disappeared over the period of time. However there are few adopted blockchain exists and we have to take calculated risk (better then gambling)
I feel it’s good to invest only the disposable income in crypto
NFA: Reduce your fiat position. Cash-out refi for a better rate. Increase your crypto position in 2 high market cap coins and one higher risk/lower cap coin depending on your risk tolerance. Aim for something with real-world utility.
I guess follow up is what allocation would you do? Obviously condo equity is not really movable.
The fuck? Condo equity is 100% movable, in fact only an idiot would keep equity in real estate. Pop up that home equity loan and invest that shit.