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Reply to "Can I buy a bitcoin or equivalent with available funds in my ROTH?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]-Buying BTC at $700 DCUM Boomers: “you’re insane” -Buying BTC at $7000 DCUM Boomers: “you’re an idiot” -Buying BTC at $70000 DCUM Boomers: “good allocation” LOL gotta love the boomers![/quote] Yeah, my 70-year old Boomer parents are the worst of all. Had a pretty aggressive 80/20 mix in favor of stocks before COVID. Why? Because the market was rising and they experienced FOMO. In March 2020, stocks were tanking and it was the end of the world. Sold everything and went to cash, but not before losing 20% of their portfolio value. Stock market bounced back. They missed out. Finally when the DOW passed 4000, FOMO strikes again and they buy back in. But then they sell again when it dropped in 2022 below 3800. Now they are bitter, angry, 100% in cash, and (thanks to withdrawals and inflation) only have ⅔ of what they had in January 2020. I’m guessing they have 8 years of runway left in their retirement. And this is after they cut spending back big time. One roadtrip vacation a year. Eating out 2x a month max. No more bday or Christmas presents for the grandkids. Asking us to cut checks for thousands of dollars to give to them so they can still host every single family event. Pinging DH constantly to visit so he can perform all their household maintenance and repairs. Uggh. [/quote] Textbook example of why time in the market always beats timing the market.[/quote]
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