Joined Nov 2005
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Forum Thread
Need advice on best retirement investment for sudden windfall ($40K) | mid-forties and no retirement savings
January 5, 2025 at
05:32 PM
in
Finance
(4)
Thread Details
Current financial situation:
45 yo old, unemployed. living w/ parents and receiving financial help. I don't have any retirement savings
cash ready to invest: $40K
can invest further $400 - $600 each month after expenses.
From what I understand, I'm not eligible for any IRA's since I don't have any taxable income. The help I get falls under 'gifts' and is much less than the $18,000/yr threshold that must be reported to the IRS.
The only option I see is to open a brokerage account and put all my money in an index fund like the S&P 500. This is for my retirement so I don't intend to touch the money for at least 20 years.
If anyone has better ideas, I'm all ears. TIA!
45 yo old, unemployed. living w/ parents and receiving financial help. I don't have any retirement savings
cash ready to invest: $40K
can invest further $400 - $600 each month after expenses.
From what I understand, I'm not eligible for any IRA's since I don't have any taxable income. The help I get falls under 'gifts' and is much less than the $18,000/yr threshold that must be reported to the IRS.
The only option I see is to open a brokerage account and put all my money in an index fund like the S&P 500. This is for my retirement so I don't intend to touch the money for at least 20 years.
If anyone has better ideas, I'm all ears. TIA!
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(BMNR) Bitmine Immersion Technologies and (SBET) Sharplink Gaming.
Try to figure out from a long term perspective which Ethereum treasury has the best shot of emulating (MicroStrategy) for a long term Investment.
BMNR Chairman Tom Lee, Peter Thiel has a 9.1% stake, Cathie Wood's ARK invested 212.9 Million, Bill Miller III made a major investment, Stanley Druckenmiller.
SBET Chairman Joseph Lubin - Co-founder of ETHEREUM, Joseph Chalom left his position as BlackRock's Head of crypto assets last week
and is now co-CEO of SBET. He will be the CEO before year end.
Llowest cost Grayscale Ethereum Mini Trust ETF (ETH), next lowest (ETHW), and (ETHA).
Ethereum's upside is projected to be much higher than Bitcoin. Personally, I believe it's a long term buy at a price point you're comfortable with.
ETHEREUM is highly volatile and most financial advisors recommend it represent only a small percentage of your portfolio.
ETH/USD $3,567.00
(BMNR) $31.21
(SBET) $18.62
(ETH) $33.64
(ETHW) $25.57
(ETHA) $26.96
My portfolio is up +318.47% in the past 3 years (and I've taken OUT easily 40% of the current balance in that time, so it is actually up 500%+)
You want Microstrategy, Bitcoin, Gold, and energy.
If you aren't going to touch it,
MSTR 8k,
FBTC 5K
GLD 5K,
QQQM 5K
XLE 5K
URA 5K
RING 4K
DAPP 3K
You should average a 30% return with that. The dollar is going to zero. These things will not.
My portfolio is up +318.47% in the past 3 years (and I've taken OUT easily 40% of the current balance in that time, so it is actually up 500%+)
You want Microstrategy, Bitcoin, Gold, and energy.
If you aren't going to touch it.
So you tell me what I think.
So you tell me what I think.
I believe at this point in time Ethereum long term will easily be be 10x at a minimum.
Please recommend where I should invest Bitcoin at today's price. The symbol, etc.
I believe at this point in time Ethereum long term will easily be be 10x at a minimum.
Please recommend where I should invest Bitcoin at today's price. The symbol, etc.
It is centralized and controlled. They can choose to do whatever they want with it. The servers can go down. Sure, it is a commodity, but it really shouldn't be.
Where to buy bitcoin? CashApp has no spread or fees. Strike. River. Fidelity. Hell, my credit union WeStreet let's you buy it.
I would lean into the bitcoin treasuries. They will outperform bitcoin.
Go learn about Nostr. It is a new protocol for apps with bitcoin payments built in..instant, anonymous and new apps are appearing on it all the time. Ethereum? Nope.
I gave you a portfolio that will outperform the market by a multiple. If you think you can do better, go for it.
I think my returns are good enough. You really want to push for more than what I've been making? Pigs get slaughtered.