I figured this subject belonged here, I am seriously considering transferring my retirement into my day trading account, and I feel like I have a pretty solid reason.
Years back, I was a Marine, with that, I was set up with the most cereal box retirement company ever. ( Thrift savings plan)
I’ve transferred, rerouted, changed things around, etc, and this crap just jumps up and down all year and closes at break even year after year, right now it’s sitting at $34,000, I found a way for me to avoid paying taxes when I pull out because I’m also a 100% disabled veteran, so the IRS can’t fuck me just yet. Even if I DIDNT pull it out, this fucker would be at around 150K when I’m dead( 70) . And taxes will be at 80% by then anyways. Why wait for a forsure poverty decision, when I can act now and at least have a chance while I’m still young ? ( 28)
I am extremely confident in day trading options, I know the risk and the reward behind it, and I know how to manage risk , which I know sounds silly and ironic with me saying I’m pulling this retirement account to basically fund my day trading account.
But what do I seriously have to loose? I’m fucking tired of living the way I do, constantly working or waiting for the next thing. Why not just find one REALLY good trade that I know I can do, and go all In? I understand using a full account on one trade is complete bonkers, but I will never get anywhere in life if I don’t at least make an attempt. Why shouldn’t I toss in my 30K into a SPY put or call during a break out and scalp for a quick 10/20% profit? That would be more money my retirement account has ever earned TO DATE. I know I have the skill to make that happen.
Even if this plan were to completely fail, I end up with $0 in that account, and I currently work a job where I make $13K a month. Why the fuck would I be worried? And why the fuck is everyone telling me this is a bad decision, I need a degenerate in here to at least back up this decision or be real with me, tell me what I’m missing. I’m tracking capital gains and all that, even with that included, I still have more of a fighting chance than holding this retirement account until I’m 67 years old with some weird ass stage 4 cancer by then. Fuck that. It’s time to act. No risk, no Nothing.