Menu
Sign In Search Podcasts Libraries Charts People & Topics Add Podcast API Blog Pricing

Chris Kline

๐Ÿ‘ค Speaker
1132 total appearances

Appearances Over Time

Podcast Appearances

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

The pigs get slaughtered, right?

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

Let me pull some of this off the table.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

That doesn't penalize them.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

They can go to cash, they can go to gold, they can go to real estate, all within the same wrapper.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

At some point, let's say you need to take the money out.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

So if you really have like a rough 10 years and you're like, I'm not making any income, I've got to start taking funds out, then you can take distribution early before 59 and a half.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

That's the distribution age.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

You can take it for certain things.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

You can take it for home buying expenses, some higher education expenses.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

So those you can take out penalty free.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

If you do take it out for, hey, I just got to pay my bills, then there could be somewhere between 20 to 25% penalty plus whatever your tax bill might be at that moment in time.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

That's not very common though.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

Most folks, this is the beauty of retirement investing is once you set it, you're thinking decades.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

This isn't like a savings account where you're like, ooh, I see those Knicks tickets for tomorrow night.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

I really want to grab the front row.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

I guess I'll divvy my savings for that.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

You're not going to do that with your retirement account because it's an additional wrapper and the advantages of it are so powerful over time to create generational wealth.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

Yeah, so obviously Bitcoin's a pretty volatile asset.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

We've watched it over the decade together.

The Pomp Podcast
How Smart Investors Turn Bitcoin Drawdowns Into Tax Wins | Chris Kline

You'll have people, we have 85 different coins, and that's usually driven by our consumers asking for them.