OP, your friend has great plans for his future and how he's preparing for his retirement.
But the question is, how can he do it consistently with 20% of his salary every month? It's hard for me, of course.
Maintaining a consistent plan is very difficult because the needs that must be met are sometimes never the same from month to month. There are times when you can't save 10% of your salary in one month, sometimes your salary is not even enough because you have to spend it on something very urgent. So I never thought about doing it regularly, but I probably will when I can save some money. Anyway the idea is good, but consistency is not mandatory because you also need to maintain a balance between needs and investment plans.
Topic: A bitcoin retirement plan with a disturbing length of years. - page 3. (Read 529 times)
How do you guys think about this idea of mine for my colleague? Can it really be helpful to him in the long run or it may just obstruct his original plan killing the whole idea? Please all opinions are entertained but whatever your opinion might be, also try to put the length of years involved into consideration.(16 years)
Your friends good, The years of retirement doesn't since you will have a lot of time to buy Bitcoin in different prices. There's no guarantee too that he can keep up on that straight 16 years when Bitcoin price increase to the new high. Lenght of investment is crucial when we are talking about retirement plan, I think it's better to add more years as much as possible to maximize your savings since this fund is your last source of money once you are not working anymore.
No one really knows what will happened on crypto but atleast he is just allocating 20% to bet in the Bitcoin future which means he still have money left for himself in worst case scenario.
This is really not bad if he has a plan for the monthly investment of his salary. But actually doing this for 16 years is really just too basic to just buy and hold bitcoin. Yes, this can give you a sense of security, but you won't know the details of your investment year by year until the end of the 16 years. Instead, I think you should determine the amount you spend based on how the bitcoin price fluctuates on a monthly basis. Percentage as well as volatility can be effective in looking at your monthly expenses when you want to check them.
I have this colleague of mine at workplace who is a bitcoin enthusiast just like me. Often times at work when we're less occupied with our job we kind of spend such moment's discussing about bitcoin generally. Two days ago he was telling me about his plans to start buying BTC with 20% of his salary every month for the rest of the years he has to retirement that's when he will then take it all. And based on the company total years of service he has 16 years left to his retirement.
I don't doubt the existence of Bitcoin in the next 16 years but if that 20% is the amount that he planned to use as retirement fund then I would suggest the diversification of that 20% among different assets and if he is not that much then atleast into gold so he may have something to not worry if Bitcoin is not expected grown. Or as you said taking out the profits after every cycle and invest them on other assets also good idea so it all comes down to our financial management skills. 
I realized one thing in life as well as looking at this market, the fact that no one can be sure about the future of cryptocurrencies and especially the value of Bitcoin. Therefore, coming up with long-term investment plans for cryptocurrencies needs to be considered and scrutinized. It should be noted that investing in cryptocurrencies is still a risky game, and it is not the right choice for everyone. If your colleague already has a plan and hopes for a good outcome, you can think about sharing with him some notes or backup funds in your successful investment process to help him, we maximize our decisions and minimize risk.
Your idea to reduce the length of your colleague's investment year is a way to reduce risk and break down the investment money into smaller investments year by year. This can help ensure that he doesn't lose too much money in the event of an unexpected event. And also help him control his investment in a better way.
Your idea to reduce the length of your colleague's investment year is a way to reduce risk and break down the investment money into smaller investments year by year. This can help ensure that he doesn't lose too much money in the event of an unexpected event. And also help him control his investment in a better way.
Your associate is rolling with a straightforward "Buy and Hold" Bitcoin tactic, betting on the long game of the crypto world. Yet, his 16-year wait game to liquidate is too basic, missing layers of complexity. Suggesting the division of the 16 years into four-year cycles is strategic, echoing the 'rebalancing' concept. This could cushion profits and minimize risk exposure. However, educate your colleague about the tax fallout and fees accompanying such cashouts. As in all money matters, he should consider getting an expert's opinion.
All the plan is good, a 16-year savings plan through Bitcoin investment is really good as long as Bitcoin delivers. In a cynical mind, it is quite risky because we don't know about the future of Bitcoin. What it will be for another decade and six years. So I applaud your friend for his braveness if ever he walks the talk and invests his 20% monthly income in the unknown future of Bitcoin.
With the way he was talking to me about it he appears to know exactly what he's about to do and how its going to end for him. But for me his idea has left some apprehension and questioning in my head due to the length of years (good 16 years) he is going to keep up with. From my angle the years are too much as no one can certainly say for sure about what the future of cryptocurrency and bitcoin holds despite how positive it could be looking today.
I don't see anything bad in his plans, the only thing i will tell him is that if the 20% which he is planning to be saving is going to affect him, then he should reduce it, don't hurt yourself because you are planning to make investment, if he can be accumulating bitcoin for 16 years then after his retirement am sure he will enough money in his wallet, because the more he keeps on buying, the more bitcoin keeps on pumping, so his money will be increasing. Am sure you are scared about what might happen in future, but some people that were scared when bitcoin was created are regretting now.In my opinion I wanted to talk to him with a logical conclusion why he should reduce the length of years, not to do it at a stretch of straight 16years he has in mind without applying risk management technique, maybe by splitting those 16years into four interjecting years. As in he should in every 4 years be taking 50% of whatever total amount plus profit till it gets to the 16years he planned. At least in worst case scenario this method could save him something reliable to fall back onto.
When bitcoin was created, some people bought bitcoin and after bitcoin price went up a little bit, most of then sold their bitcoin, but am sure their are some people that will be holding bitcoin since it was created up till now, even if the will be few, just imagine the massive profits they will be. If you are in this life then you are not planning to take risk then you wont really achieve anything serious. You are thinink 16 years is much and you don't know what will happen to bitcoin before then, but am sure nothing will happen to bitcoin, the only thing that will happen is that bitcoin price will have pumped hard, but am sure bitcoin have come to stay and its not going anywhere. 
I have this colleague of mine at workplace who is a bitcoin enthusiast just like me. Often times at work when we're less occupied with our job we kind of spend such moment's discussing about bitcoin generally. Two days ago he was telling me about his plans to start buying BTC with 20% of his salary every month for the rest of the years he has to retirement that's when he will then take it all. And based on the company total years of service he has 16 years left to his retirement.
Actually this is not a bad idea, as long as he can manage money and set it aside to invest in Bitcoin, and already understands the various conditions of Bitcoin, then there's no problem. However, this is a bit risky. However, for the long term, this will be more valuable. Even though there may be pros and cons, how big is the target time and price that might be obtained. Or by taking profits every bullrun and buying back again when it is bearish. This became one of the possible strategies he thought of.
I have this colleague of mine at workplace who is a bitcoin enthusiast just like me. Often times at work when we're less occupied with our job we kind of spend such moment's discussing about bitcoin generally. Two days ago he was telling me about his plans to start buying BTC with 20% of his salary every month for the rest of the years he has to retirement that's when he will then take it all. And based on the company total years of service he has 16 years left to his retirement.
Actually this is not a bad idea, as long as he can manage money and set it aside to invest in Bitcoin, and already understands the various conditions of Bitcoin, then there's no problem. However, this is a bit risky. However, for the long term, this will be more valuable. Even though there may be pros and cons, how big is the target time and price that might be obtained. Or by taking profits every bullrun and buying back again when it is bearish. This became one of the possible strategies he thought of. 
Most people hold their retirement funds in fiat currencies, even though fiat is prone to a high level of inflation, confiscation by the bank or government or a collapse of the financial institution that is holding the funds, but yet people save their money in fiat for longer than 16 years and do not consider it to be ridiculous.
There's nothing ridiculous about holding and accumulating BTC for 16 years, BTC gives the person control of their funds, it is censorship resistant and permissionless and as long as the person owns the keys and do not lose it, the funds will be safe, so it is a better choice for long term holdings. If you're worried about what BTC's price will be at that time, it isn't possible for anyone to know, but because the supply will continue to reduce and because of the usefulness of BTC the demand will also continue to increase, then surely the price will be good even at that time.
There's nothing ridiculous about holding and accumulating BTC for 16 years, BTC gives the person control of their funds, it is censorship resistant and permissionless and as long as the person owns the keys and do not lose it, the funds will be safe, so it is a better choice for long term holdings. If you're worried about what BTC's price will be at that time, it isn't possible for anyone to know, but because the supply will continue to reduce and because of the usefulness of BTC the demand will also continue to increase, then surely the price will be good even at that time.
what i see on this situation is his friend can always change his approach in the years to come. since he is regularly updated with the crypto market as they have regular discussion, his strategy may change depending on what will happen in the market in the years to come. so for me, there's nothing to worry about his friend's current plan for his bitcoin. let him assess the situation later on. because what he's planning today may not be absolute. as he is also into this market, he is amenable to other options later on.
16 years is not a disturbing number of years, it's a regular number if you're thinking long term investments. If one is not certain what it could look like in 16 years then you are equally not certain how the next day or week would affect the currency.
We sometimes refer to how cheap it was 10-12 years ago, but to have been able to benefit from the price increase you need to have held for a long period of time, close to the retirement plan of your friend.
We sometimes refer to how cheap it was 10-12 years ago, but to have been able to benefit from the price increase you need to have held for a long period of time, close to the retirement plan of your friend.
16 years isnt a very long time, I agree but it depends on what age you are when you start!
TBH those in their 20's, 30's or early 40's doing this long term retirement plan tactic is a great
move, they can esentially retire early! but for those who are older, working this plan means
they have to work until they reach retirement age to benefit from that 16 year outlook so I
would rather in my 50's work on a less than 10 year plan in order to retire early too!!
as above we have all wondered at the value of Bitcoin 10 years ago, fast forward to 2043, what
will we think/remember of todays Bitcoin values?
Most people hold their retirement funds in fiat currencies, even though fiat is prone to a high level of inflation, confiscation by the bank or government or a collapse of the financial institution that is holding the funds, but yet people save their money in fiat for longer than 16 years and do not consider it to be ridiculous.
There's nothing ridiculous about holding and accumulating BTC for 16 years, BTC gives the person control of their funds, it is censorship resistant and permissionless and as long as the person owns the keys and do not lose it, the funds will be safe, so it is a better choice for long term holdings. If you're worried about what BTC's price will be at that time, it isn't possible for anyone to know, but because the supply will continue to reduce and because of the usefulness of BTC the demand will also continue to increase, then surely the price will be good even at that time.
There's nothing ridiculous about holding and accumulating BTC for 16 years, BTC gives the person control of their funds, it is censorship resistant and permissionless and as long as the person owns the keys and do not lose it, the funds will be safe, so it is a better choice for long term holdings. If you're worried about what BTC's price will be at that time, it isn't possible for anyone to know, but because the supply will continue to reduce and because of the usefulness of BTC the demand will also continue to increase, then surely the price will be good even at that time.
If that's the plan and if he's aware of what he is about to do then that's much better. There's no need to intervene with the plan that he's got and he may even think of you as something else if you want to go against with his plans. But I think it's all gonna depend on your approach.
If he's a guy that's willing to listen to you and knowing that both of you are bitcoin investors, no problem to suggest and voice out what you want him to say and just try it out if he'll listen to you. Otherwise, everything is fine and he's just doing the typical DCA.
^That is right because that is his plan and probably he already analyzed or understands how BTC will work as an investment plan.If he's a guy that's willing to listen to you and knowing that both of you are bitcoin investors, no problem to suggest and voice out what you want him to say and just try it out if he'll listen to you. Otherwise, everything is fine and he's just doing the typical DCA.
It is important to respect your colleague's autonomy and investment choices. If they have a good plan and understand the risks involved in investing in BTC for their retirement, it may be best to support their decision. However, if you have a good rapport with your colleague and they are open to discussions about investments, you can share your thoughts and concerns in a respectful manner. Because it is up to them to decide whether they want to consider alternative strategies or stick with their current plan.
I have this colleague of mine at workplace who is a bitcoin enthusiast just like me. Often times at work when we're less occupied with our job we kind of spend such moment's discussing about bitcoin generally. Two days ago he was telling me about his plans to start buying BTC with 20% of his salary every month for the rest of the years he has to retirement that's when he will then take it all. And based on the company total years of service he has 16 years left to his retirement.
With the way he was talking to me about it he appears to know exactly what he's about to do and how its going to end for him. But for me his idea has left some apprehension and questioning in my head due to the length of years (good 16 years) he is going to keep up with. From my angle the years are too much as no one can certainly say for sure about what the future of cryptocurrency and bitcoin holds despite how positive it could be looking today.
In my opinion I wanted to talk to him with a logical conclusion why he should reduce the length of years, not to do it at a stretch of straight 16years he has in mind without applying risk management technique, maybe by splitting those 16years into four interjecting years. As in he should in every 4 years be taking 50% of whatever total amount plus profit till it gets to the 16years he planned. At least in worst case scenario this method could save him something reliable to fall back onto.
How do you guys think about this idea of mine for my colleague? Can it really be helpful to him in the long run or it may just obstruct his original plan killing the whole idea? Please all opinions are entertained but whatever your opinion might be, also try to put the length of years involved into consideration.(16 years)
Pretty sure he knows how to play his cards well and he's just saying it cause in relation to today's status bitcoin is a flourishing asset that sees use and investment across various fields. When things get sour for the cryptocurrency giant in the future, or if in any case a good bitcoin replacement that offers the same benefits just with added necessary bonus arrives he'd probably jump off the bitcoin wagon the first moment he gets and would switch over to a better venture immediately. With the way he was talking to me about it he appears to know exactly what he's about to do and how its going to end for him. But for me his idea has left some apprehension and questioning in my head due to the length of years (good 16 years) he is going to keep up with. From my angle the years are too much as no one can certainly say for sure about what the future of cryptocurrency and bitcoin holds despite how positive it could be looking today.
In my opinion I wanted to talk to him with a logical conclusion why he should reduce the length of years, not to do it at a stretch of straight 16years he has in mind without applying risk management technique, maybe by splitting those 16years into four interjecting years. As in he should in every 4 years be taking 50% of whatever total amount plus profit till it gets to the 16years he planned. At least in worst case scenario this method could save him something reliable to fall back onto.
How do you guys think about this idea of mine for my colleague? Can it really be helpful to him in the long run or it may just obstruct his original plan killing the whole idea? Please all opinions are entertained but whatever your opinion might be, also try to put the length of years involved into consideration.(16 years)
To me what he's doing is prudent and is a testament to how people should ready for when they can't earn money anymore. It's better and all to enjoy your years but you also have to realize that you're getting old, and it will come to a point wherein you won't have the chance to earn money anymore through work, and you'd have to rely on your retirement benefits. This colleague/friend of yours knows what's up and I give him props for that.
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In my opinion, I think your friend can go ahead with his plans. As the years go by, he will always keep an eye on the Bitcoin trend, because if anything goes wrong, he still has his Bitcoin in control and can decide whether to sell it off or hold it. Bitcoin is not like every other centralized system that will ask you the reason why you want to sell your coin or not. Just like the banks, there is a particular huge amount you will keep in the bank, and any time you want to take it, your account manager will ask you what you want to do with the money. But Bitcoin is not like that; your friend can keep accumulating and holding it in a cold wallet, which he can also sell at any time of his choice. Perhaps he is not investing every part of his salary into Bitcoin (just 20%), but he still has the rest to do other things with, even if it's to use another 30% to carry out other investments. Then he can use the remaining 50% to solve his expenses.
Cheers 🥂, Dr.Bitcoin_Strange 👺👺
Cheers 🥂, Dr.Bitcoin_Strange 👺👺
How do you guys think about this idea of mine for my colleague? Can it really be helpful to him in the long run or it may just obstruct his original plan killing the whole idea? Please all opinions are entertained but whatever your opinion might be, also try to put the length of years involved into consideration.(16 years)
Thinking the possibility of Bitcoin breaking its ATH every four year, your colleague's idea is superb IMO. 20% of his income to put into Bitcoin investment is a gigantic move to securing his future if the assumption of Bitcoin hits the mark every cycle.
For 16 years, that is about 4 cycles for Bitcoin not only he is saving money but also growing it. I have a strong belief that if your friend is able to walk the talk then after 16 years, he might have a comfortable post-retirement day assuming that Bitcoin will continue to uptrend.
How do you guys think about this idea of mine for my colleague? Can it really be helpful to him in the long run or it may just obstruct his original plan killing the whole idea? Please all opinions are entertained but whatever your opinion might be, also try to put the length of years involved into consideration.(16 years)
What if the 14th year happens to be the year where bitcoin experience its new ATH and the 16th year is experiencing a heavy bear losses to it's previous low. On the other hand, why don't him divide his portfolio into other outstanding Altcoins for a safe investment where he buys different coins on every pay day. Is it good to advise him that way for his own betterment?He can always wait for the 17th, 18th, or whatever year when Bitcoin breaks another ATH.
How do you guys think about this idea of mine for my colleague? Can it really be helpful to him in the long run or it may just obstruct his original plan killing the whole idea? Please all opinions are entertained but whatever your opinion might be, also try to put the length of years involved into consideration.(16 years)
What if the 14th year happens to be the year where bitcoin experience its new ATH and the 16th year is experiencing a heavy bear losses to it's previous low. On the other hand, why don't him divide his portfolio into other outstanding Altcoins for a safe investment where he buys different coins on every pay day. Is it good to advise him that way for his own betterment?We sometimes refer to how cheap it was 10-12 years ago, but to have been able to benefit from the price increase you need to have held for a long period of time, close to the retirement plan of your friend.
And also to invest with huge amount of funds, using low amount of money to getting low amount of Bitcoin would yield little gain, over really, it's also depends on him his target as to what his expecting. It's be best to buy a good tangible quantity of Bitcoin because that really matters alot. 
16 years is not a disturbing number of years, it's a regular number if you're thinking long term investments. If one is not certain what it could look like in 16 years then you are equally not certain how the next day or week would affect the currency.
We sometimes refer to how cheap it was 10-12 years ago, but to have been able to benefit from the price increase you need to have held for a long period of time, close to the retirement plan of your friend.
We sometimes refer to how cheap it was 10-12 years ago, but to have been able to benefit from the price increase you need to have held for a long period of time, close to the retirement plan of your friend.
I have this colleague of mine at workplace who is a bitcoin enthusiast just like me. Often times at work when we're less occupied with our job we kind of spend such moment's discussing about bitcoin generally. Two days ago he was telling me about his plans to start buying BTC with 20% of his salary every month for the rest of the years he has to retirement that's when he will then take it all. And based on the company total years of service he has 16 years left to his retirement.
With the way he was talking to me about it he appears to know exactly what he's about to do and how its going to end for him. But for me his idea has left some apprehension and questioning in my head due to the length of years (good 16 years) he is going to keep up with. From my angle the years are too much as no one can certainly say for sure about what the future of cryptocurrency and bitcoin holds despite how positive it could be looking today.
In my opinion I wanted to talk to him with a logical conclusion why he should reduce the length of years, not to do it at a stretch of straight 16years he has in mind without applying risk management technique, maybe by splitting those 16years into four interjecting years. As in he should in every 4 years be taking 50% of whatever total amount plus profit till it gets to the 16years he planned. At least in worst case scenario this method could save him something reliable to fall back onto.
How do you guys think about this idea of mine for my colleague? Can it really be helpful to him in the long run or it may just obstruct his original plan killing the whole idea? Please all opinions are entertained but whatever your opinion might be, also try to put the length of years involved into consideration.(16 years)
With the way he was talking to me about it he appears to know exactly what he's about to do and how its going to end for him. But for me his idea has left some apprehension and questioning in my head due to the length of years (good 16 years) he is going to keep up with. From my angle the years are too much as no one can certainly say for sure about what the future of cryptocurrency and bitcoin holds despite how positive it could be looking today.
In my opinion I wanted to talk to him with a logical conclusion why he should reduce the length of years, not to do it at a stretch of straight 16years he has in mind without applying risk management technique, maybe by splitting those 16years into four interjecting years. As in he should in every 4 years be taking 50% of whatever total amount plus profit till it gets to the 16years he planned. At least in worst case scenario this method could save him something reliable to fall back onto.
How do you guys think about this idea of mine for my colleague? Can it really be helpful to him in the long run or it may just obstruct his original plan killing the whole idea? Please all opinions are entertained but whatever your opinion might be, also try to put the length of years involved into consideration.(16 years)
16 years of saving 20% of his salary into BTC may be a wrong and risky move because of the uncertainty. I feel he should not dive into this if the saving is really towards retirement.
Money saved for retirement purposes should be kept as safe as possible. I want to believe that the organization he currently works with has a retirement saving account for him already because this is done for all employees in my home country. In my country, there's a retirement saving plan called AVC(additional voluntary contribution), which is an additional voluntary inflow save towards retirement, here the employee can instruct the employer to deduct an X amount of money from the salary and add to the mandatory contributions. I will suggest that your friend take this type of approach because Pension contributions are largely invested in secured investments with minimal risk instead of investing his hard earn money in BTC for 16 years.
I will also suggest that he can do like 5% in BTC for the duration of 16 years(Take the interest as often as possible) In my own opinion,20% is too high. However, if the retirement plan stated above is not available in his workplace then he should invest 15% out of the 20% in a more secure investment because he's saving towards retirement while 5% goes into BTC.
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