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**Considering Withdrawing from 401k for Risky Investment**
I’m 31 years old, with a 401k balance of 130k. I contribute 12% of each paycheck to my 401k.

**Exploring a Risky Investment in Crypto**
I am contemplating withdrawing 20k from my 401k to invest in Crypto, through a 401k loan. I am hopeful for a higher return on this investment.

**Seeking Advice on Risky Investment**
Before making a decision, I would appreciate any advice or experiences from others who have been in a similar situation.

**How AI Legalese Decoder Can Help**
AI Legalese Decoder can assist by analyzing the legalities and risks involved in taking a 401k loan for investing in Crypto. It can provide insights on potential consequences and offer guidance on making an informed decision.

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### Rewritten Content ###

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View Reference


  • Prestigious_Swan_584

    This has to be rage bait ÔÇö but in the off chance that itÔÇÖs not, OP, you should wave goodbye to r/middleclassfinance and wave hello to r/povertyfinance, because with the kind of mentality that would cause you to think that borrowing against your 401(k) to buy crypto is a good idea, youÔÇÖll be poor soon. Crypto is NOT investing ÔÇö itÔÇÖs closer to gambling. Would you borrow money from (and pay a steep penalty on) a safe account to do sports betting or play blackjack at the casino at Caesars? If you want to head in the wrong direction, thatÔÇÖs your business ÔÇö but people spend their lives trying to claw themselves out of poverty, and youÔÇÖre staring right at it.

  • parmiseanachicken

    I cannot think of anything worse to do with your 401k funds. Maybe investing in Mary Kay would be worse….not by much.

  • fuckyouu2020

    ItÔÇÖs a bad idea bro

  • aiwonttakeover

    You want to gamble, sure, but not with your retirement, that sounds awfully wrong.

  • cv_init_diri

    You’re in the wrong subreddit – check the other regards in r/wallstreetbets

  • pop_quiz_kid

    The time to take that risk was about a year ago and with much smaller size. Like putting in a few thousand to try and make 20k. Risking 15% of your retirement savings now could have unbelievably bad long term consequences.

  • Informal_Product2490

    Looking at your profile history you clearly aren’t great at investing

    Please don’t

  • Top_Part_5544

    Yea, not smart. Why pay interest to pay back a loan from your own money. That makes zero sense. And to yolo it into crypto. Even less sense

  • No-Grass9261

    This is the dumbest thing you could do. Go to Vegas and put it on black lol

  • redhtbassplyr0311

    Short answer, NO. I have a good bit of BTC and a little crypto otherwise. I also have a 403b funded. While my BTC and crypto has outpaced nearly everything ( minus my NVDA I think so far at least) , I wouldn’t dare take a loan from my 403b to buy more. I find that simply irresponsible. My 403b ( and Roth) is my nest egg. My crypto and BTC may indeed let me retire early, however I’m on track with retirement and wouldn’t want to put myself behind. Sounds like you’re on track too. I don’t think there’s much of a chance the BTC all the sudden implodes after all these years and every sign points to just the opposite, but I will humbly admit it’s still speculation to some degree at this point. I wouldn’t risk my future financial stability on it.

    Until I go back FT for more matching from my employer I have reduced my contributions to my 403b temporarily and I have been putting more into my brokerage, BTC ( bought on exchanges) and also have been buying IBIT and FBTC BItcoin ETFs through my fidelity Roth account. Trying to allocate to the crypto space consistently, but in a responsible way.

  • Ok_Strain_2065

    Crypto is high right now, and thatÔÇÖs a really stupid idea (coming from someone who made a lot of crypto)

  • Bradimoose

    I think you’re looking for r/wallstreetbets

  • DirectorBusiness5512

    [I think you have a problem](

    Don’t do it or it’s /r/povertyfinance for you

  • SignificanceWise2877

    I work in crypto and I wouldn’t even do this

  • knm-e

    ItÔÇÖs not a bad idea to be more speculative in itself, but donÔÇÖt use your 401k. Keep a (small) portion of your income for speculative plays, a portion you are fine with losing completely.

  • DebitCashCreditLife1


  • DankPeepz

    Sounds irresponsible

  • Constant_Layer5915

    Just pause your 401k contributions and put that new $20k in if you are so confident in your magic beans.

  • _throw_away222

    Bro if you just want to light $20K on fire, just give it to me

  • PitifulAnxiety8942

    You have a better shot at the craps table

  • Murky_Plant5410

    DonÔÇÖt do it! I purchased $900 worth of crypto coins about 3 years ago. The value plummeted after a few days. It is currently only worth a little over $400. I only did it to appease my son and show him it was NOT a good investment,hence, why I only put in a small amount. No way should you be borrowing from your 410k. Research the investment options offered by your ÔÇÿemployer and stick to them. You are doing so well. DonÔÇÖt go and mess it up ­ƒÿè

  • useful_idiots_dye

    Bad idea but at least youÔÇÖll be paying yourself interest on your lost $

  • Saysnicethingz

    Most people on this website hate on crypto, mostly justified given crypto bros and the rampant scams, but I was able to turn 2k into 13k over 8 years with ÔÇÖconservativeÔÇÖ crypto buys.┬á

    DonÔÇÖt put in anything you are not okay with losing. Markets on the uptrend but it is still incredibly volatile.┬á

  • rocket_beer

    Go to r/CryptoCurrency and ask how to do this.

    Lots there have experience most with bad results in a bull market.

    Good luck

  • Austriak5

    IÔÇÖm not a fan of crypto. It is fairly unregulated and the value is based on nothing. You probably missed the time when it may have been worthwhile which was at the beginning before so many people jumped on it.

    The truth about investments, is that it is slow and takes time. Most people get burned by the get rich quick schemes.

  • min_mus

    That would be a really stupid idea. Don’t do it.

  • ar295966

    Do it, and then invite me to the corner of the street where youÔÇÖll be living and IÔÇÖll bring an oversized boot to kick you with.

  • xidonteven

    This is the type of questions you see before crypto collapses (short term at least).