@jonmaverick
25Founder of Maverick Retirement, the easiest way to use retirement funds for alternative investments
steemit.com/@jonmaverickVOTING POWER100.00%
DOWNVOTE POWER100.00%
RESOURCE CREDITS100.00%
REPUTATION PROGRESS0.00%
Net Worth
0.097USD
STEEM
1.022STEEM
SBD
0.016SBD
Effective Power
5.001SP
├── Own SP
0.628SP
└── Incoming DelegationsDeleg
+4.373SP
Detailed Balance
| STEEM | ||
| balance | 1.022STEEM | STEEM |
| market_balance | 0.000STEEM | STEEM |
| savings_balance | 0.000STEEM | STEEM |
| reward_steem_balance | 0.000STEEM | STEEM |
| STEEM POWER | ||
| Own SP | 0.628SP | SP |
| Delegated Out | 0.000SP | SP |
| Delegation In | 4.373SP | SP |
| Effective Power | 5.001SP | SP |
| Reward SP (pending) | 0.000SP | SP |
| SBD | ||
| sbd_balance | 0.016SBD | SBD |
| sbd_conversions | 0.000SBD | SBD |
| sbd_market_balance | 0.000SBD | SBD |
| savings_sbd_balance | 0.000SBD | SBD |
| reward_sbd_balance | 0.000SBD | SBD |
{
"balance": "1.022 STEEM",
"savings_balance": "0.000 STEEM",
"reward_steem_balance": "0.000 STEEM",
"vesting_shares": "1023.077494 VESTS",
"delegated_vesting_shares": "0.000000 VESTS",
"received_vesting_shares": "7120.582312 VESTS",
"sbd_balance": "0.016 SBD",
"savings_sbd_balance": "0.000 SBD",
"reward_sbd_balance": "0.000 SBD",
"conversions": []
}Account Info
| name | jonmaverick |
| id | 699916 |
| rank | 609,682 |
| reputation | 3173368 |
| created | 2018-01-30T17:47:18 |
| recovery_account | steem |
| proxy | None |
| post_count | 1 |
| comment_count | 0 |
| lifetime_vote_count | 0 |
| witnesses_voted_for | 0 |
| last_post | 2018-01-30T18:04:48 |
| last_root_post | 2018-01-30T18:04:48 |
| last_vote_time | 1970-01-01T00:00:00 |
| proxied_vsf_votes | 0, 0, 0, 0 |
| can_vote | 1 |
| voting_power | 0 |
| delayed_votes | 0 |
| balance | 1.022 STEEM |
| savings_balance | 0.000 STEEM |
| sbd_balance | 0.016 SBD |
| savings_sbd_balance | 0.000 SBD |
| vesting_shares | 1023.077494 VESTS |
| delegated_vesting_shares | 0.000000 VESTS |
| received_vesting_shares | 7120.582312 VESTS |
| reward_vesting_balance | 0.000000 VESTS |
| vesting_balance | 0.000 STEEM |
| vesting_withdraw_rate | 0.000000 VESTS |
| next_vesting_withdrawal | 1969-12-31T23:59:59 |
| withdrawn | 0 |
| to_withdraw | 0 |
| withdraw_routes | 0 |
| savings_withdraw_requests | 0 |
| last_account_recovery | 1970-01-01T00:00:00 |
| reset_account | null |
| last_owner_update | 1970-01-01T00:00:00 |
| last_account_update | 2018-01-30T18:13:36 |
| mined | No |
| sbd_seconds | 0 |
| sbd_last_interest_payment | 2018-01-30T22:18:33 |
| savings_sbd_last_interest_payment | 1970-01-01T00:00:00 |
{
"id": 699916,
"name": "jonmaverick",
"owner": {
"weight_threshold": 1,
"account_auths": [],
"key_auths": [
[
"STM84WY33kYoyfTC7MzEaXxFAJMDCpZJ8Zj1577fSYfWSgs4fa9EW",
1
]
]
},
"active": {
"weight_threshold": 1,
"account_auths": [],
"key_auths": [
[
"STM6gYj2imRRVBjDceP72REqn8YMRGJtJjxK7RsSSABauiK6vRoES",
1
]
]
},
"posting": {
"weight_threshold": 1,
"account_auths": [],
"key_auths": [
[
"STM5Tm7nfLeTErKhRRypDKgb3hCqccHn8YDmLihirn5ghC6ocMa95",
1
]
]
},
"memo_key": "STM8UWoC4Gdh8mFvkMk6pGd8cnGBGj3HaS8zbsDJm3QU9cEj2ypts",
"json_metadata": "{\"profile\":{\"profile_image\":\"https://www.maverick401k.com/assets/5ac8fb46da03f455ae85469a867d5059.jpg\",\"name\":\"Jon Elling\",\"about\":\"Founder of Maverick Retirement, the easiest way to use retirement funds for alternative investments\",\"location\":\"New York City\",\"website\":\"https://www.maverick401k.com\"}}",
"posting_json_metadata": "{\"profile\":{\"profile_image\":\"https://www.maverick401k.com/assets/5ac8fb46da03f455ae85469a867d5059.jpg\",\"name\":\"Jon Elling\",\"about\":\"Founder of Maverick Retirement, the easiest way to use retirement funds for alternative investments\",\"location\":\"New York City\",\"website\":\"https://www.maverick401k.com\"}}",
"proxy": "",
"last_owner_update": "1970-01-01T00:00:00",
"last_account_update": "2018-01-30T18:13:36",
"created": "2018-01-30T17:47:18",
"mined": false,
"recovery_account": "steem",
"last_account_recovery": "1970-01-01T00:00:00",
"reset_account": "null",
"comment_count": 0,
"lifetime_vote_count": 0,
"post_count": 1,
"can_vote": true,
"voting_manabar": {
"current_mana": "8143659806",
"last_update_time": 1779069765
},
"downvote_manabar": {
"current_mana": 2035914951,
"last_update_time": 1779069765
},
"voting_power": 0,
"balance": "1.022 STEEM",
"savings_balance": "0.000 STEEM",
"sbd_balance": "0.016 SBD",
"sbd_seconds": "0",
"sbd_seconds_last_update": "2018-01-30T22:18:33",
"sbd_last_interest_payment": "2018-01-30T22:18:33",
"savings_sbd_balance": "0.000 SBD",
"savings_sbd_seconds": "0",
"savings_sbd_seconds_last_update": "1970-01-01T00:00:00",
"savings_sbd_last_interest_payment": "1970-01-01T00:00:00",
"savings_withdraw_requests": 0,
"reward_sbd_balance": "0.000 SBD",
"reward_steem_balance": "0.000 STEEM",
"reward_vesting_balance": "0.000000 VESTS",
"reward_vesting_steem": "0.000 STEEM",
"vesting_shares": "1023.077494 VESTS",
"delegated_vesting_shares": "0.000000 VESTS",
"received_vesting_shares": "7120.582312 VESTS",
"vesting_withdraw_rate": "0.000000 VESTS",
"next_vesting_withdrawal": "1969-12-31T23:59:59",
"withdrawn": 0,
"to_withdraw": 0,
"withdraw_routes": 0,
"curation_rewards": 0,
"posting_rewards": 0,
"proxied_vsf_votes": [
0,
0,
0,
0
],
"witnesses_voted_for": 0,
"last_post": "2018-01-30T18:04:48",
"last_root_post": "2018-01-30T18:04:48",
"last_vote_time": "1970-01-01T00:00:00",
"post_bandwidth": 0,
"pending_claimed_accounts": 0,
"vesting_balance": "0.000 STEEM",
"reputation": 3173368,
"transfer_history": [],
"market_history": [],
"post_history": [],
"vote_history": [],
"other_history": [],
"witness_votes": [],
"tags_usage": [],
"guest_bloggers": [],
"rank": 609682
}Withdraw Routes
| Incoming | Outgoing |
|---|---|
Empty | Empty |
{
"incoming": [],
"outgoing": []
}From Date
To Date
steemdelegated 4.373 SP to @jonmaverick2026/05/18 02:02:45
steemdelegated 4.373 SP to @jonmaverick
2026/05/18 02:02:45
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 7120.582312 VESTS |
| Transaction Info | Block #106145589/Trx f797ce85ee18d364fc0ba4a6f495c7e84bb76107 |
View Raw JSON Data
{
"trx_id": "f797ce85ee18d364fc0ba4a6f495c7e84bb76107",
"block": 106145589,
"trx_in_block": 0,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2026-05-18T02:02:45",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "7120.582312 VESTS"
}
]
}steemdelegated 2.707 SP to @jonmaverick2026/05/12 11:06:06
steemdelegated 2.707 SP to @jonmaverick
2026/05/12 11:06:06
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 4408.371907 VESTS |
| Transaction Info | Block #105984407/Trx 2bd04183066e468782b921c633947e39dc575f41 |
View Raw JSON Data
{
"trx_id": "2bd04183066e468782b921c633947e39dc575f41",
"block": 105984407,
"trx_in_block": 1,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2026-05-12T11:06:06",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "4408.371907 VESTS"
}
]
}steemdelegated 4.380 SP to @jonmaverick2026/04/26 01:20:48
steemdelegated 4.380 SP to @jonmaverick
2026/04/26 01:20:48
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 7133.098068 VESTS |
| Transaction Info | Block #105513187/Trx 428be7c155378a4b25c33e0f1cc52db9209c7fda |
View Raw JSON Data
{
"trx_id": "428be7c155378a4b25c33e0f1cc52db9209c7fda",
"block": 105513187,
"trx_in_block": 2,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2026-04-26T01:20:48",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "7133.098068 VESTS"
}
]
}steemdelegated 2.733 SP to @jonmaverick2026/01/23 12:36:36
steemdelegated 2.733 SP to @jonmaverick
2026/01/23 12:36:36
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 4449.918726 VESTS |
| Transaction Info | Block #102857574/Trx b2f0fc1455f2136b113b0ef3b334ad698089d836 |
View Raw JSON Data
{
"trx_id": "b2f0fc1455f2136b113b0ef3b334ad698089d836",
"block": 102857574,
"trx_in_block": 1,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2026-01-23T12:36:36",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "4449.918726 VESTS"
}
]
}steemdelegated 2.834 SP to @jonmaverick2024/12/17 07:52:54
steemdelegated 2.834 SP to @jonmaverick
2024/12/17 07:52:54
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 4614.137923 VESTS |
| Transaction Info | Block #91303914/Trx 4d5894d5fcb8be35f8255e6dbe4113e580e164d6 |
View Raw JSON Data
{
"trx_id": "4d5894d5fcb8be35f8255e6dbe4113e580e164d6",
"block": 91303914,
"trx_in_block": 7,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2024-12-17T07:52:54",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "4614.137923 VESTS"
}
]
}steemdelegated 2.937 SP to @jonmaverick2023/11/13 23:35:00
steemdelegated 2.937 SP to @jonmaverick
2023/11/13 23:35:00
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 4783.271455 VESTS |
| Transaction Info | Block #79858101/Trx 496966dcf3ec92605d1bf0556351aae533d6b4cd |
View Raw JSON Data
{
"trx_id": "496966dcf3ec92605d1bf0556351aae533d6b4cd",
"block": 79858101,
"trx_in_block": 0,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2023-11-13T23:35:00",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "4783.271455 VESTS"
}
]
}steemdelegated 4.741 SP to @jonmaverick2023/09/21 23:56:33
steemdelegated 4.741 SP to @jonmaverick
2023/09/21 23:56:33
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 7720.550241 VESTS |
| Transaction Info | Block #78350357/Trx 67fabc350d36491d49024504175cb2a2e8971611 |
View Raw JSON Data
{
"trx_id": "67fabc350d36491d49024504175cb2a2e8971611",
"block": 78350357,
"trx_in_block": 10,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2023-09-21T23:56:33",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "7720.550241 VESTS"
}
]
}steemdelegated 4.877 SP to @jonmaverick2022/11/03 13:28:00
steemdelegated 4.877 SP to @jonmaverick
2022/11/03 13:28:00
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 7942.231679 VESTS |
| Transaction Info | Block #69115365/Trx 9a2dfde6d647a5aa5b8747d8a325318393b13075 |
View Raw JSON Data
{
"trx_id": "9a2dfde6d647a5aa5b8747d8a325318393b13075",
"block": 69115365,
"trx_in_block": 6,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2022-11-03T13:28:00",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "7942.231679 VESTS"
}
]
}steemdelegated 5.013 SP to @jonmaverick2022/01/17 16:50:51
steemdelegated 5.013 SP to @jonmaverick
2022/01/17 16:50:51
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 8162.466815 VESTS |
| Transaction Info | Block #60816448/Trx 002ebd1729d39ab5096b8882ed0b49aea3e100e2 |
View Raw JSON Data
{
"trx_id": "002ebd1729d39ab5096b8882ed0b49aea3e100e2",
"block": 60816448,
"trx_in_block": 25,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2022-01-17T16:50:51",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "8162.466815 VESTS"
}
]
}steemdelegated 5.126 SP to @jonmaverick2021/06/14 02:26:00
steemdelegated 5.126 SP to @jonmaverick
2021/06/14 02:26:00
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 8346.533568 VESTS |
| Transaction Info | Block #54609654/Trx 3faefabc68449b248f2b0600170da1d3585b5a3d |
View Raw JSON Data
{
"trx_id": "3faefabc68449b248f2b0600170da1d3585b5a3d",
"block": 54609654,
"trx_in_block": 7,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2021-06-14T02:26:00",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "8346.533568 VESTS"
}
]
}steemdelegated 5.241 SP to @jonmaverick2020/12/11 12:42:36
steemdelegated 5.241 SP to @jonmaverick
2020/12/11 12:42:36
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 8533.955542 VESTS |
| Transaction Info | Block #49357049/Trx 0b49639d726551f24fbce160b2fbba270885db3b |
View Raw JSON Data
{
"trx_id": "0b49639d726551f24fbce160b2fbba270885db3b",
"block": 49357049,
"trx_in_block": 4,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-12-11T12:42:36",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "8533.955542 VESTS"
}
]
}steemdelegated 1.174 SP to @jonmaverick2020/12/06 06:19:21
steemdelegated 1.174 SP to @jonmaverick
2020/12/06 06:19:21
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 1912.543513 VESTS |
| Transaction Info | Block #49208601/Trx d8dd8be78204ba8dac4ea28e6d00744eea1b84aa |
View Raw JSON Data
{
"trx_id": "d8dd8be78204ba8dac4ea28e6d00744eea1b84aa",
"block": 49208601,
"trx_in_block": 0,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-12-06T06:19:21",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "1912.543513 VESTS"
}
]
}steemdelegated 5.245 SP to @jonmaverick2020/12/05 16:20:45
steemdelegated 5.245 SP to @jonmaverick
2020/12/05 16:20:45
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 8540.163396 VESTS |
| Transaction Info | Block #49192146/Trx 9cc54c1dd58b147ac910d6bdae87500ada9f6cc0 |
View Raw JSON Data
{
"trx_id": "9cc54c1dd58b147ac910d6bdae87500ada9f6cc0",
"block": 49192146,
"trx_in_block": 9,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-12-05T16:20:45",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "8540.163396 VESTS"
}
]
}steemdelegated 1.179 SP to @jonmaverick2020/11/02 18:53:21
steemdelegated 1.179 SP to @jonmaverick
2020/11/02 18:53:21
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 1920.017158 VESTS |
| Transaction Info | Block #48261631/Trx 4fcf0b9660a493073ad3238b94f6db7ef8c9d193 |
View Raw JSON Data
{
"trx_id": "4fcf0b9660a493073ad3238b94f6db7ef8c9d193",
"block": 48261631,
"trx_in_block": 2,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-11-02T18:53:21",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "1920.017158 VESTS"
}
]
}steemdelegated 5.369 SP to @jonmaverick2020/05/09 07:18:27
steemdelegated 5.369 SP to @jonmaverick
2020/05/09 07:18:27
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 8742.968755 VESTS |
| Transaction Info | Block #43218874/Trx aa3f3759713d15e040a6a02b2bc60da8c77d95c4 |
View Raw JSON Data
{
"trx_id": "aa3f3759713d15e040a6a02b2bc60da8c77d95c4",
"block": 43218874,
"trx_in_block": 18,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-05-09T07:18:27",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "8742.968755 VESTS"
}
]
}steemdelegated 1.200 SP to @jonmaverick2020/05/08 11:08:48
steemdelegated 1.200 SP to @jonmaverick
2020/05/08 11:08:48
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 1953.311140 VESTS |
| Transaction Info | Block #43195247/Trx de454c94c3a4ad0263becee40b5fcc65b0fef517 |
View Raw JSON Data
{
"trx_id": "de454c94c3a4ad0263becee40b5fcc65b0fef517",
"block": 43195247,
"trx_in_block": 1,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-05-08T11:08:48",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "1953.311140 VESTS"
}
]
}steemdelegated 5.377 SP to @jonmaverick2020/04/16 00:54:36
steemdelegated 5.377 SP to @jonmaverick
2020/04/16 00:54:36
| delegator | steem |
| delegatee | jonmaverick |
| vesting shares | 8755.856203 VESTS |
| Transaction Info | Block #42566387/Trx de212b6b05f63b0cb3ae9c9a50c23b81a05f967a |
View Raw JSON Data
{
"trx_id": "de212b6b05f63b0cb3ae9c9a50c23b81a05f967a",
"block": 42566387,
"trx_in_block": 5,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-04-16T00:54:36",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "jonmaverick",
"vesting_shares": "8755.856203 VESTS"
}
]
}2020/01/30 19:09:42
2020/01/30 19:09:42
| parent author | jonmaverick |
| parent permlink | crypto-investing-with-retirement-funds-a-how-to-guide-for-2018 |
| author | steemitboard |
| permlink | steemitboard-notify-jonmaverick-20200130t190941000z |
| title | |
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}jonmaverickpublished a new post: crypto-investing-with-retirement-funds-a-how-to-guide-for-20182018/01/30 18:04:48
jonmaverickpublished a new post: crypto-investing-with-retirement-funds-a-how-to-guide-for-2018
2018/01/30 18:04:48
| parent author | |
| parent permlink | bitcoin |
| author | jonmaverick |
| permlink | crypto-investing-with-retirement-funds-a-how-to-guide-for-2018 |
| title | Crypto Investing with Retirement Funds: a How-To Guide for 2018 |
| body | With the recent boom market in Bitcoin, ICOs, and other cryptocurrencies, many U.S. investors ask if it is possible to invest in cryptocurrencies with retirement. The good news is that yes, it is but that it is slightly more complicated due to the regulatory rules surrounding retirement accounts. In this article, I will explain the various ways to “unlock” retirement funds so that you can invest them in Bitcoin and Ethereum as well as in ICOs and other alt-coins. My background is that I’m the Founder and CEO of [Maverick Retirement](https://www.maverick401k.com), a company that specializes in helping people unlock retirement funds for investing in alternative assets. We spent a good part of 2017 helping clients get into the crypto-market so what follows comes from that experience and our general expertise in the rules of tax advantaged retirement accounts. But first, why would you want to invest retirement funds in cryptos anyway? ### Why People Use Retirement Funds for Crypto-Investing #### Gains can be Tax-Deferred With a traditional retirement account no taxes are due on investment gains until you retire or otherwise withdraw the funds. So if you hold cryptocurrencies in a retirement account you do not have to pay annual taxes or any other taxes until retirement. For example, if Bitcoin goes to the moon and you can decide to take profits, you can then invest 100% of those profits instead of the much smaller amount that would be left if you had to pay personal income taxes on those gains. #### ...or Gains Can Be Tax Free Alternately, if you use a Roth retirement account to invest in cryptocurrencies, you will never have to pay taxes on your crypto-gains at all. The reason is that with a Roth account you pay income taxes on your capital prior to make investments - i.e. Today - but then you do not pay income taxes on those funds when you withdraw them at retirement. Fun fact: famous venture capitalist Peter Thiel invested in Facebook using Roth funds. So not only did he make billions of dollars on Facebook but the only taxes he will ever pay are the taxes he paid on the initial investment. #### Retirement Investing is the Ultimate HODL Finally, if you are truly long a cryptocurrency, then having some of your holdings in a retirement account is ultimate HODL since you cannot withdraw retirement funds until retirement. Many investors find this focuses them on the long-term and makes HODLI’ing easier. So how do you unlock retirement funds for crypto investing? ### How You Unlock Depends on How You’re Employed Due to how the U.S. tax code is written, the method you use to unlock your retirement funds will depend on whether you have self-employment income or whether all of your income is from an employer. #### If You’re Self-Employed If you’re self-employed - even part-time - then you are most likely eligible for a self-directed Solo 401(k). This is the best option because it has the lowest costs and it gives you the greatest control over your retirement funds. While most retirement accounts have limited investment options, a self-directed Solo 401(k) is more like a bank account in that it holds your funds but it does not limit where you can invest them. The investment process into cryptos looks like this with a self-directed Solo 401(k): - Setup a self-directed Solo 401(k) plan - Rollover existing funds to the self-directed Solo 401(k) or make contributions - Open an account with an exchange in the name of Solo 401(k) - Transfer funds from the Solo 401(k) to the exchange - Trade Overall, I highly recommend this path if you qualify. In addition to the lower costs and easier setup, a self-directed Solo 401(k) also allows enables to you to invest in other alternative assets such as real estate and private companies. It also offers the ability to take loans if ever needed. #### If You’re Not Self-Employed If you are not self-employed, you can still use retirement funds for crypto investing via an IRA. However, this path has numerous disadvantages because it requires an IRA custodian. In simplest terms, an IRA custodian is a company that sits between your retirement funds and wherever you decide to invest them with. They do not provide investment advice or anything else; they just issue the payment. As you likely guessed, an IRA custodian adds both extra costs and delay to every investment you make. In addition, Self-Directed IRAs are a particularly poor choice when it comes to cryptocurrencies, because: - The few Self-Directed IRA companies that sell Bitcoin charge exorbitant fees of 10-15% per transaction - Few Self-Directed IRA companies sell cryptocurrencies other than Bitcoin - None of them support ICOs - You have to issue payment instructions to them via phone or email then wait. Good luck timing your orders. #### A Better Way: Checkbook IRA The alternative I recommend is a legal structure called a Checkbook IRA. A checkbook IRA is similar to a self-directed Solo 401(k) in that you as the investor have full control over your funds so you can issue payments for investments without requiring a middleman or per transaction fees. A Checkbook IRA is setup like so: - One sets up an a self-directed IRA with an IRA custodian and funds it - One hires a third party to create an LLC and open a bank account for it - One instructs the self-directed IRA company to buy the LLC and name you as the manager of the LLC - One opens an exchange account in the name of the LLC and funds it from the LLC bank account Frankly, I did my best to shorten this process for the sake of readability. But in the real world this process typically takes several weeks whereas the Solo 401(k) can be setup in a day or so. That said, once the Checkbook IRA is setup you can now invest retirement funds into cryptocurrencies - as well as other alternative assets - without needing to pay a custodian per transaction or to wait for them. ### Alt-Coins Whichever way you choose to unlock your retirement funds, things are much easier you are holding a cryptocurrency such as Bitcoin or Ethereum. At that point you can buy alt-coins and ICOs as you see fit. The key thing to remember though is never ever put retirement funds into an account opened in your personal name as opposed to an account opened in the name of your retirement plan. I.e. all accounts that require a legal name and tax Id should be opened as “Your Name Solo 401k Trust” or “Your Name Checkbook IRA LLC” not “Your Name.” ### Frequently Asked Questions: ##### Can I use an IRA or a 401(k) from a brokerage to invest in crypto? Short answer: no. You may be able to invest in an exchange traded fund like GBTC but no brokerage currently offers an account that allows for the direct investment in crypto-currencies. While many brokerages offer a “self-directed” IRA or Solo 401(k), they generally limit the investment options to exchanged traded securities and explicitly do not support cryptocurrencies. #### Can I rollover money from an IRA at a brokerage? Almost always yes. The notable exception is that Roth IRA funds cannot be rolled over to a Roth Solo 401(k). #### Can I rollover money from my employer’s retirement plan? It depends on the plan. Ask your HR department if your plan supports “in-service rollovers” to find out for sure. #### Can I transfer money from my retirement account into my pre-existing exchange account? The exchange is being slow. No. Absolutely do not do this. Doing so will create a prohibited transaction which will have significant tax consequences. #### Can I setup a Solo 401(k) or Checkbook IRA by myself? No. In either case you will need significant plan documentation and legal know-how. #### Conclusion As you can see, crypto investing with retirement funds can be done and there are significant tax advantages to doing so. Our company, [Maverick Retirement](https://www.maverick401k.com), currently offers self-directed Solo 401(k) plans and we have the easiest setup process in the industry. If you have self-employment income of any sort we highly recommend using a Solo 401(k) as it has the lowest costs and an easier setup. However, if you are not self-employed we recommend using a Checkbook IRA and we have a partner with whom we can put you in touch. Either way, in addition to the method you choose to unlock your funds you will also need to open what an exchange calls an institutional account. That process is different than signing up for an account via their website and typically occurs via a separate set of PDF forms. We have pre-filled versions of those forms and we are happy to help you with any exchanges which we do not already support. If you are interest in investing in cryptocurrencies with your retirement account please do not hesitate to reach out to us at <[email protected]> or visit us at [https://www.maverick401k.com](https://www.maverick401k.com). |
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"title": "Crypto Investing with Retirement Funds: a How-To Guide for 2018",
"body": "With the recent boom market in Bitcoin, ICOs, and other cryptocurrencies, many U.S. investors ask if it is possible to invest in cryptocurrencies with retirement. The good news is that yes, it is but that it is slightly more complicated due to the regulatory rules surrounding retirement accounts. \n\nIn this article, I will explain the various ways to “unlock” retirement funds so that you can invest them in Bitcoin and Ethereum as well as in ICOs and other alt-coins. \n\nMy background is that I’m the Founder and CEO of [Maverick Retirement](https://www.maverick401k.com), a company that specializes in helping people unlock retirement funds for investing in alternative assets. We spent a good part of 2017 helping clients get into the crypto-market so what follows comes from that experience and our general expertise in the rules of tax advantaged retirement accounts. \n\nBut first, why would you want to invest retirement funds in cryptos anyway?\n\n### Why People Use Retirement Funds for Crypto-Investing\n\n#### Gains can be Tax-Deferred\n\nWith a traditional retirement account no taxes are due on investment gains until you retire or otherwise withdraw the funds. So if you hold cryptocurrencies in a retirement account you do not have to pay annual taxes or any other taxes until retirement.\n\nFor example, if Bitcoin goes to the moon and you can decide to take profits, you can then invest 100% of those profits instead of the much smaller amount that would be left if you had to pay personal income taxes on those gains.\n\n#### ...or Gains Can Be Tax Free\n\nAlternately, if you use a Roth retirement account to invest in cryptocurrencies, you will never have to pay taxes on your crypto-gains at all. \n\nThe reason is that with a Roth account you pay income taxes on your capital prior to make investments - i.e. Today - but then you do not pay income taxes on those funds when you withdraw them at retirement.\n\nFun fact: famous venture capitalist Peter Thiel invested in Facebook using Roth funds. So not only did he make billions of dollars on Facebook but the only taxes he will ever pay are the taxes he paid on the initial investment. \n\n#### Retirement Investing is the Ultimate HODL\n\nFinally, if you are truly long a cryptocurrency, then having some of your holdings in a retirement account is ultimate HODL since you cannot withdraw retirement funds until retirement. Many investors find this focuses them on the long-term and makes HODLI’ing easier. \n\nSo how do you unlock retirement funds for crypto investing?\n\n### How You Unlock Depends on How You’re Employed\n\nDue to how the U.S. tax code is written, the method you use to unlock your retirement funds will depend on whether you have self-employment income or whether all of your income is from an employer.\n\n#### If You’re Self-Employed\n\nIf you’re self-employed - even part-time - then you are most likely eligible for a self-directed Solo 401(k). This is the best option because it has the lowest costs and it gives you the greatest control over your retirement funds.\n\nWhile most retirement accounts have limited investment options, a self-directed Solo 401(k) is more like a bank account in that it holds your funds but it does not limit where you can invest them. \n\nThe investment process into cryptos looks like this with a self-directed Solo 401(k):\n\n- Setup a self-directed Solo 401(k) plan\n- Rollover existing funds to the self-directed Solo 401(k) or make contributions\n- Open an account with an exchange in the name of Solo 401(k)\n- Transfer funds from the Solo 401(k) to the exchange\n- Trade\n\nOverall, I highly recommend this path if you qualify. In addition to the lower costs and easier setup, a self-directed Solo 401(k) also allows enables to you to invest in other alternative assets such as real estate and private companies. It also offers the ability to take loans if ever needed. \n\n#### If You’re Not Self-Employed\n\nIf you are not self-employed, you can still use retirement funds for crypto investing via an IRA. However, this path has numerous disadvantages because it requires an IRA custodian.\n\nIn simplest terms, an IRA custodian is a company that sits between your retirement funds and wherever you decide to invest them with. They do not provide investment advice or anything else; they just issue the payment.\n\nAs you likely guessed, an IRA custodian adds both extra costs and delay to every investment you make. \n\nIn addition, Self-Directed IRAs are a particularly poor choice when it comes to cryptocurrencies, because:\n\n- The few Self-Directed IRA companies that sell Bitcoin charge exorbitant fees of 10-15% per transaction\n- Few Self-Directed IRA companies sell cryptocurrencies other than Bitcoin\n- None of them support ICOs\n- You have to issue payment instructions to them via phone or email then wait. Good luck timing your orders.\n\n#### A Better Way: Checkbook IRA\n\nThe alternative I recommend is a legal structure called a Checkbook IRA. A checkbook IRA is similar to a self-directed Solo 401(k) in that you as the investor have full control over your funds so you can issue payments for investments without requiring a middleman or per transaction fees.\n\nA Checkbook IRA is setup like so:\n\n- One sets up an a self-directed IRA with an IRA custodian and funds it\n- One hires a third party to create an LLC and open a bank account for it\n- One instructs the self-directed IRA company to buy the LLC and name you as the manager of the LLC\n- One opens an exchange account in the name of the LLC and funds it from the LLC bank account\n\nFrankly, I did my best to shorten this process for the sake of readability. But in the real world this process typically takes several weeks whereas the Solo 401(k) can be setup in a day or so.\n\nThat said, once the Checkbook IRA is setup you can now invest retirement funds into cryptocurrencies - as well as other alternative assets - without needing to pay a custodian per transaction or to wait for them. \n\n### Alt-Coins\n\nWhichever way you choose to unlock your retirement funds, things are much easier you are holding a cryptocurrency such as Bitcoin or Ethereum. At that point you can buy alt-coins and ICOs as you see fit.\n\nThe key thing to remember though is never ever put retirement funds into an account opened in your personal name as opposed to an account opened in the name of your retirement plan. I.e. all accounts that require a legal name and tax Id should be opened as “Your Name Solo 401k Trust” or “Your Name Checkbook IRA LLC” not “Your Name.” \n\n### Frequently Asked Questions:\n\n##### Can I use an IRA or a 401(k) from a brokerage to invest in crypto?\n\nShort answer: no. You may be able to invest in an exchange traded fund like GBTC but no brokerage currently offers an account that allows for the direct investment in crypto-currencies.\n\nWhile many brokerages offer a “self-directed” IRA or Solo 401(k), they generally limit the investment options to exchanged traded securities and explicitly do not support cryptocurrencies.\n\n#### Can I rollover money from an IRA at a brokerage?\n\nAlmost always yes. The notable exception is that Roth IRA funds cannot be rolled over to a Roth Solo 401(k).\n\n#### Can I rollover money from my employer’s retirement plan?\n\nIt depends on the plan. Ask your HR department if your plan supports “in-service rollovers” to find out for sure. \n\n#### Can I transfer money from my retirement account into my pre-existing exchange account? The exchange is being slow.\n\nNo. Absolutely do not do this. Doing so will create a prohibited transaction which will have significant tax consequences. \n\n#### Can I setup a Solo 401(k) or Checkbook IRA by myself?\n\nNo. In either case you will need significant plan documentation and legal know-how.\n\n#### Conclusion\n\nAs you can see, crypto investing with retirement funds can be done and there are significant tax advantages to doing so.\n\nOur company, [Maverick Retirement](https://www.maverick401k.com), currently offers self-directed Solo 401(k) plans and we have the easiest setup process in the industry. If you have self-employment income of any sort we highly recommend using a Solo 401(k) as it has the lowest costs and an easier setup. However, if you are not self-employed we recommend using a Checkbook IRA and we have a partner with whom we can put you in touch.\n\nEither way, in addition to the method you choose to unlock your funds you will also need to open what an exchange calls an institutional account. That process is different than signing up for an account via their website and typically occurs via a separate set of PDF forms. We have pre-filled versions of those forms and we are happy to help you with any exchanges which we do not already support. \n\nIf you are interest in investing in cryptocurrencies with your retirement account please do not hesitate to reach out to us at <[email protected]> or visit us at [https://www.maverick401k.com](https://www.maverick401k.com).",
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}steemcreated a new account: @jonmaverick2018/01/30 17:47:18
steemcreated a new account: @jonmaverick
2018/01/30 17:47:18
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