julien
@julien51.eth
I am happy to make controversial bets for me, but it's MUCH harder to make the same bets for my kids. For example, I am ok not having a 401k because I am betting on crypto but I am putting money on regular savings accounts for the kids.
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Vinay Vasanji
@vinayvasanji.eth
You could get the best of both worlds by opening a Roth IRA that supports crypto for your kids DCA into a selection of assets and let it grow tax free Caveat is they can't access it fully until they're 60
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julien
@julien51.eth
Ha! Good point! That said, I have a really hard time thinking that anything tax-wise will be the same in 50+ years :D
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shazow
@shazow.eth
That's a wild thought. I remember in my youth, I'd have full confidence about the permanence of the tax system. What do you think would be the biggest changes from today in 50+ years?
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julien
@julien51.eth
I actually don't really know... i just have a hard time believing that systems that were put in place 50-100 years ago will still be mostly the same in 50 years. For example, VAT in Europe is 50 years and is now the "biggest" income for most Euro countries (I think!). Income Tax is barely 100 years old...
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Chaitenya Gupta
@chait
Yes thats completely valid! Which is where the “roth” concept comes into play. You put in “after-tax” money and you pay no tax upon withdrawals. This way you are 100% protected from future tax bracket changes. Does that make sense?
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