The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
I'm like, hey, and it's personal responsibility.
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
On the other hand, how many people like personal responsibility and actually benefit?
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
What are the other things that you see people doing?
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
So there's this whole idea of leveraging and taking responsibility, which isn't like some alpha generating, hey, go buy this stock, go do this certain strategy, but it's just like the money is sitting there, pay attention, which actually is pretty important.
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
And how does that work, a solo K?
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
And when people are doing this, how much of these wealthy clients are they putting, you know, 100% in the Bitcoin versus you see them say, OK, hey, I want, you know, 5, 10% Bitcoin.
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
I want some stocks.
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
I want kind of different assets like to talk through, you know, kind of the asset allocation.
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
And really the difference is like this is going to be in there for a long time, right?
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
This is much more long term oriented than
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
What about if somebody changes their mind?
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
Like, this is one of the questions I always hear when people start talking about trust, or they start talking about retirement accounts, et cetera.
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
They say, all right, well, right now, you know, maybe I'm a high earner, or maybe I've got some investment that did really well.
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
I'm thinking about putting it in there, but I'm really nervous because I don't know what the future holds.
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
And maybe I'm 30 or 35 years old.
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
So 58, 62, 70, those are, you know, pretty far away.
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
Yeah.
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
what happens if I want to change my mind later and get these assets out?
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
Can I get it out?
The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline
What's the penalties?