Topic: [2017-05-14]Traditional IRAs Are Coming to the World of Bitcoin (Read 3875 times)
If this catches on as a mainstream option, then Bitcoin is headed for $100,000 each, within 4 to 7 years.
Traditional IRAs Are Coming to the World of Bitcoin
New consumer interest in bitcoin is trickling up into traditional retirement savings products and tax-advantaged vehicles like Individual Retirement Accounts (IRAs).
But while a new phenomenon, cryptocurrency IRAs are no different than IRAs invested in more traditional options like stocks and bonds. Holders of IRAs can deduct contributions from their income tax every year until the commencement of disbursements, currently at 59.5 years old in the US.
However, while there is no legal difference in an IRA account's status based on the investment, most popular IRA providers only allow pre-approved investments, not more unusual options like cryptocurrencies or private equity and property.
http://www.coindesk.com/traditional-iras-coming-world-bitcoin/
New consumer interest in bitcoin is trickling up into traditional retirement savings products and tax-advantaged vehicles like Individual Retirement Accounts (IRAs).
But while a new phenomenon, cryptocurrency IRAs are no different than IRAs invested in more traditional options like stocks and bonds. Holders of IRAs can deduct contributions from their income tax every year until the commencement of disbursements, currently at 59.5 years old in the US.
However, while there is no legal difference in an IRA account's status based on the investment, most popular IRA providers only allow pre-approved investments, not more unusual options like cryptocurrencies or private equity and property.
http://www.coindesk.com/traditional-iras-coming-world-bitcoin/
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