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Investing in a 401K

Sophia

Registered Member
Are you currently putting money into a 401K? In today's economy there may be better places to put your money. Interest rates are very low on savings accounts and cd's right now so where would you put your money for a high yield?
 

MiketheGrinder

Registered Member
My employer matches up to a certain amount, so I try to max that amount in my 401k. After that I put money towards stock, usually ETFs. I have diverged from that usual pattern a bit by investing more in Facebook and other stock I expect to rise in value. I've done pretty good with two rounds of Bitcoin investments, but it's highly volatile and a lot like gambling. It's where I put my money for a high yield though.
 

Sophia

Registered Member
I have some shares of several very solid stocks MiketheGrinder but I would like to play a little. Would you advise me to try Bitcoin? What should my initial investment be?
 

MiketheGrinder

Registered Member
Would you advise me to try Bitcoin? What should my initial investment be?
I wouldn't advise anyone to try Bitcoin. I would hate for someone to take my advice and lose everything through a hack or something. However, if you're going to do it anyway, watch the numbers and look at the past value of Bitcoin. You can find that on several sites. Before you buy, get a hardware wallet. Right now, the Ledger Nano seems to be the most cost effective (it won't hold several different coins though). When you buy you'll go through an exchange. Right now, Coindesk is offering a $10 bonus if you go through them and deposit $100. You might have to click on a referral link, I'm not sure. You can buy a percentage of a single bitcoin, or you can buy whole bitcoins, just enter the amount of money you wish to spend. I chose to buy when it's at $5.5k or less and sell when it's close to $6k or over. There are fees for everything, just like there are with a bank. Don't leave money on the exchange. That's how hackers get your money. Remember your wallet's numbers both public and private. Print these out and keep them in a safe place. Still, I don't advise anyone to buy/sell Bitcoin. It's a gamble.
 

Keri35

Registered Member
I've got a 403b plan and several CDs. My employer doesn't match any amount of money. I do work for the state and my retirement is pretty impressive.
 
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