patrick.net

Young men aren’t investing in a 401(k) for retirement — they’re banking on bitcoin

https://www.marketwatch.com/story/young-men-arent-investing-in-a-401-k-for-retirement-theyre-banking-on-bitcoin-ead9d58c

summary:

• Shift in retirement planning: A growing number of young men are opting out of 401(k) plans, preferring to invest in Bitcoin as their primary retirement vehicle.
• Distrust of traditional finance: They see 401(k)s and the stock market as outdated or unreliable, believing cryptocurrency offers higher potential returns.
• Generational divide: Older workers tend to stick with employer-sponsored retirement accounts, while younger men are more likely to embrace riskier digital assets.
• Volatility concerns: Experts warn that Bitcoin’s extreme price swings make it a dangerous substitute for stable retirement savings.
• Financial literacy gap: The trend underscores a lack of trust in institutions and a need for better education on balancing risk with long-term financial security.

Following up on my recent posts (and thanks for all that had some input). I sold all of my IUSG today which was a little over 10% of my stonks. I kind of freaked out last week when I checked it's main holdings and it's at 13% for Nvidia.

Even Stalwarts SCHB and VTI are around 7% Nvidia. These two constitute over 50% of my stonks so I still have plenty of exposure to AI.

Waiting for funds to settle and I'll put it in DGRO. No single stock is more than 3.5% of the total and it has big tech but also big pharma and consumer staples.

I may do a large cap energy ETF because I do believe the future is oil, gas, coal, and nuclear. Nobody can convince me that Solar or Wind will ever produce more energy than it costs.

Any idiot can diversify a portfolio.
Diversification is for the know-nothing investor.

-- Charlie Munger

Eric Holder says

Diversification is for the know-nothing investor.

The only person who is not a "no nothing investor" is an insider trader. The rest of us are making out best guesses.

Eric Holder says

Any idiot can diversify a portfolio.
Diversification is for the know-nothing investor.
-- Charlie Munger

So be it as far as being labeled an investing idiot but still earn on average about 9% to 10% annually after inflation on your retirement savings accounts for 25 to 35 years.

AD says

Eric Holder says

Any idiot can diversify a portfolio.
Diversification is for the know-nothing investor.
-- Charlie Munger

So be it as far as being labeled an investing idiot but still earn on average about 9% to 10% annually after inflation on your retirement savings accounts for 25 to 35 years.

Charlie would not have been impressed.