Why would it be a waste of time? Of course you need to wait until early spring to chop it (or any major branches), but if you can plant it temporarily somewhere til then, either in the ground or a large container (don't prune roots either now) then you'll be ready in spring.

I didnt mean a waste of time. I was just curious if me doing this to a tree this large would end up just killing it. I have always heard that Redwoods are not the easiest trees to take care of so I was a bit skeptical to try this. But the trees are only $50 and that seems super cheap for a tree that large.