Hi everyone. Looking for some advice as to how to best approach the situation I'm in. I have been working in crypto for several years now and a company that I worked for compensated me (in addition to regular salary) with their self-issued crypto token. Initially the offering was worth about $800k after a 2 year vesting period but that's shrunk to about $175k. I have $120k vested and would like to exit before any further retracting of the market. The company retains first right of refusal on the sale of this token and have agreed to buy it back at the current market rate.
I currently max out all of my tax advantaged accounts, 401k, FSA, and Roth IRA. Have a couple debts that are nearly paid off. I am also getting married this year, and our combined income comes to about $260k gross, the taxes we'd pay on the sale would be 9.9% state and 24-32% federal. In 12-16 months, we'd like to use this money as a down payment on a house. I hope to park the money somewhere safe that can earn a little in that amount of time, while minimizing the tax hit. One also has to consider the fees involved in selling crypto somewhere like Gemini is 1%.
It's looking like after taxes (unless there are other options) the final dollar value I'd realize is around $64000, a lot less than the original value but better than nothing. Should I just drop this in a savings account? I have a betterment account that manages the Roth IRA, should I just use a "conservative" portfolio savings account there? Thanks for any and all advice!
Submitted January 28, 2019 at 03:49PM by hundredthousandare http://bit.ly/2B8vBJ4
