Cashing out 401K

I am 24 and have realized the 401k is a giant scam compared to a ROTH. I have $31k in it and will be cashing it out soon. What are some good plays?
>Dump it all into Bitcoin or
>Stake all of it when Bancor V3 goes live in DAI/LINK/ETH
Other ideas?

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How often are you gay?

Every day. I am gay for you user

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> Bancor.
Is so fucking cheap right now. Got some at $2.11.

Ask me how i know you dont understand what you are contemplating.

see if you can wait to cash it out during a "life-changing event", like if you lose your job. i believe the penalty is waived if you can prove you need the moneynow

They are both tax-advantaged accounts, keep both, especially if there is a employer match

>cashing out 401k
If you want to feel like someone just punched you in the face, it's much cheaper to simply pay someone a tenner

I am thinking about waiting until I get my surgery but then I have to fucking beg to get a waiver. I feel financially cucked and will do this once then take it all out.
ROTH you pay taxes up front and can withdraw without penalties

Just leave it alone retard. You can make more money and invest that how you need to.

The APRs on BNT staking are pretty insane, I'm wondering why I wouldn't just stake BNT instead of a stable coin

>Hold your money in a cuck cage and then lose 20% anyway when you are supposed to withdraw in a higher tax bracket

it's not worth the employer match. the opportunity cost is way too high to use 401k anymore. i dont contribute

The risk is that BNT has heavy selling pressure because it is being treated like a yield farm token. I would rather just stake stablecoins for high yield if we are bulilsh

Exactly. All of that money isn't worth as much and target funds have fucking government bonds in them as they age.

You are still penalized on earnings withdrawn before 59.5. You are also limited to $6000/year contributions. Keep the 401k and max any employee contributions

my GBTC is doing pretty well

you can do backdoor mega Roth which is like $50k. only poorfags can contribute the regular way anyway.

if you have any decent goals and youre young, theres no way you need to invest for retirement income. you need a house and a proper vehicle before then, and any money you keep locked up for thirty is just a fuckin waste. that 401k contribution is way more useful for saving for a home, or paying for a refinance for your home (pretend interest rates havent changed since last year, just an example).

I'm 30 and never had a normal job. Have like $500k in stocks/crypto/cash.

Should I get a self directed Roth? I think one I pay less tax on now makes more sense because when I'm old I'll just move to Florida or wherever to avoid retirement taxes

Yes you can leave the principal and not get rekt by taxes which I like with the ROTH. The 401k is just too restricted for other needs/investments that I would like to make

It's Roth, not ROTH. It's not an acronym, it's a surname.
And does your 401k have employer match?

>retirement taxes
You live somewhere you have to pay taxes to retire?

I have the match but still that money is not liquid.
I will see if I qualify for a hardship withdraw for my surgery / leaving my job / buying my first house.