Same I have also done this plan where every month's salary is set aside to bitcoin and this is no more than 20% unless there is other additional money that I get from field work, I think your friend's plan is quite sure about bitcoin by setting aside until he retires of course 16 years is a long term but if your friend is able to do this of course he is quite optimistic about doing this.
I appreciate the conclusion about your opinion to change the plan to 4 years and take only 50% of the total invested, but the plan belongs to your colleague, of course it will be different even though you have thought about the risks in the future but think you don't need to worry about bitcoin if it takes much longer to store let alone dozens of years then it will be even more valuable, I won't even doubt the uncertain future of bitcoin according to you but in my opinion bitcoin will definitely be better.
Topic: A bitcoin retirement plan with a disturbing length of years. - page 4. (Read 557 times)
At the level bitcoin have reached setting aside 16 year accumulation plans wont ve a bad idea most especially when he is doing this with just 20% of his salary, the amount,, if mentioned could be very small that requires long term to build up a good amount that can suit his retirement plans.
Just as you mentioned that your colleague seems to know exactly what he is doing so at that he is on the right paths, but my concern is on job security since you mentioned working for a company, who can fire their worker at any time or go bankrupt, so instead of you worrying about the uncertainty in the future of bitcoin, you should instead worry about the job and its security and how sustainable this 20% salary investment plan will work throughout the whole period.
Just as you mentioned that your colleague seems to know exactly what he is doing so at that he is on the right paths, but my concern is on job security since you mentioned working for a company, who can fire their worker at any time or go bankrupt, so instead of you worrying about the uncertainty in the future of bitcoin, you should instead worry about the job and its security and how sustainable this 20% salary investment plan will work throughout the whole period.
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.
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.
Despite its 16-year history, Bitcoin has proven to be a compelling idea. If your colleague possesses a good understanding of Bitcoin, they should make informed decisions. In my opinion, they can continue purchasing Bitcoin over the course of 16 years while also taking advantage of its volatility in the interim. This approach does not involve active trading but rather long-term holding. For instance, when Bitcoin's price surged above $60,000 and subsequently dropped to $16,000, your friend could have capitalized on such opportunities. Although there is a certain level of risk involved, it is preferable if the plan succeeds. If not, they can still continue with their ongoing strategy of buying Bitcoin.
From you stand point on this you actually don't believe in Bitcoin, even though I find it weird that you here already and still have doubts about Bitcoin, despite that you are always entitled to your opinion, but this is that rare case someone from this forum comes out open to write that they had a discussion with someone else and tried talking them about their concerns on Bitcoin.
If you don't think Bitcoin would Last as long as 16yrs what makes you feel what ever alternative you have would also last that long, nothing is certain not even fiat, the world keeps advancing and before Fiat we have had other means of exchange. I think your friend is making a smart choice,the only let down I see is that he may be affecting his standard of living giving out that percentage of his salary in saving for Bitcoin depending on what the salary looks like.
If you don't think Bitcoin would Last as long as 16yrs what makes you feel what ever alternative you have would also last that long, nothing is certain not even fiat, the world keeps advancing and before Fiat we have had other means of exchange. I think your friend is making a smart choice,the only let down I see is that he may be affecting his standard of living giving out that percentage of his salary in saving for Bitcoin depending on what the salary looks like.
I think your colleague's idea is not made by keeping any risks factors in mind, he simply made the most simplest retirement plan of saving 20% in BTC every month, and if i am not wrong, you are suggesting him to buy/invest in BTC after every four year maybe with 50% of his total savings.
If that's what you are suggesting then, i totally agree with you because in this way, your friend will be able to buy from every dip, no wonder he would not be able to get benefit from 100% dips but he would be able to increase his profit ratio unlike by his own 20% plan.
I think he preferred this plan because he is not that technical person or he did not wants to spend so much time on analyzing the market and so far, in my POV (to some extent only) if you are holding for 16 years, its like fours halvings, then analyzing the market did not matter at all.
But if he could follow the market trend and put money accordingly instead of every month then his profit ratio will increase
If that's what you are suggesting then, i totally agree with you because in this way, your friend will be able to buy from every dip, no wonder he would not be able to get benefit from 100% dips but he would be able to increase his profit ratio unlike by his own 20% plan.
I think he preferred this plan because he is not that technical person or he did not wants to spend so much time on analyzing the market and so far, in my POV (to some extent only) if you are holding for 16 years, its like fours halvings, then analyzing the market did not matter at all.
But if he could follow the market trend and put money accordingly instead of every month then his profit ratio will increase
...to the best of my discretion, I'll say it's safe to HODL cus - the prove of reliability has been made certain through the years ... But also, that's not giving anyone a just course to place his entire skepticism - cus even life itself doesn't seem to last forever.. Though BTC might devalue, but WHATEVER HAPPENS IN FUTURE, YOUR BITCOIN REMAINS YOURS FOR LIFE!!
That being said, I don't support HODLing Bitcoin as a retirement plan... Cus 16 years is quite a long time and since he's so enthusiastic about this whole cryptography, he might end up staking up everything, without anything to fall back to. What if these usual ban extensions are being made around his peripherals and with that, VPNs are rendered useless and KYCs are forcefully imposed?? What if the value reduces to something really unbearable?? .... just what if??! Rhetorical!
Sandra 🧑🦰
That being said, I don't support HODLing Bitcoin as a retirement plan... Cus 16 years is quite a long time and since he's so enthusiastic about this whole cryptography, he might end up staking up everything, without anything to fall back to. What if these usual ban extensions are being made around his peripherals and with that, VPNs are rendered useless and KYCs are forcefully imposed?? What if the value reduces to something really unbearable?? .... just what if??! Rhetorical!
alot of people in hindesight after a market history can be viewed, will say "you should have done this at that time and done that at this time" but no one in the moment can know what the future will result in. no one can predict accurately the exact top of a ATH and the exact correction of a new post-ATH bottom.
Having a dual thoughts is imperative which, is what I see here In Franky's sentence... MAYBE FRANKY'S right?Sandra 🧑🦰
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.
This is certainly a great plan because the percentage set for the investment is actually a percentage that most experts actually advise on when investing into bitcoin. Also the year is quite long couple with the fact that this isn’t a one time buy, the monthly buy looks exactly like someone applying the DCA method which minimizes the risk of lost because it will be quite hard to have bitcoin way below its intial value after 16 years (this has been proven by past trend of bitcoin). Quote
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)
This also is a better alternative because even if we believe in bitcoin’s future we are not certain of the kind of regulations or policy that would be implemented by the government in the future, and this are things that could shape the adoption process of bitcoin. So i second your suggestion of him taking the profits off after the very halving, since every halving has the potential to make each bitcoin grow to multiple times its price. This profits can be used to buy other assets that have stores of value or used to open up business(es). The profits from the business(es) can then be used again to buy more bitcoin and then same process continues on each halving. This will minimize the risk of depending on one source of retirement income
my bitcoin hoard is at 11 years and i dont plan on doing anything in the next 5 years. so 16 years is not unreasonable
for someone that thinks of the value as a retirement fund.
what you have to consider is the whole "dont risk investing more then you can afford to lose" meaning the fiat he puts into bitcoin does not need to be taken out any time soon. its nothing he requires to live/survive on right now. he can afford to live without touching it, using it. and has no need to take anything out anytime soon
as for savvi investing. yes if at every ATH people were to cash out some and then using those funds not to spend on goods/services for lifestyle stuff. but to instead buy back btc at the correction to the post-ATH low. to maximise btc yield totals more, would be of good investment strategy.. but timing what the high is or what the low is has risks and is a bit of guess work.
i personally just hoarded 90% as is, untouched for 11 years spent about 5% and 'shorted' the other 5% amount. yes i can see i could have grew alot more coin holdings by riding the 4 year cycles of shorting an ATH. but i am still happy to have just majority hoarded aswell
i might at the next 2025 ATH short 10%-20% of my hoard and buy back in at the post-ATH correction which might be 3x lower meaning it turns 10-30% into 30-60% of hoard.. but i may also do nothing again and just keep things as is. either way ill gain in the long run. i definitely wont be cashing it all out,
alot of people in hindesight after a market history can be viewed, will say "you should have done this at that time and done that at this time" but no one in the moment can know what the future will result in. no one can predict accurately the exact top of a ATH and the exact correction of a new post-ATH bottom.
as long as he doesnt need the money now. he has no need to cash out any time soon. and with each 4 year cycle hoarding reaps its own benefits of doing nothing
for someone that thinks of the value as a retirement fund.
what you have to consider is the whole "dont risk investing more then you can afford to lose" meaning the fiat he puts into bitcoin does not need to be taken out any time soon. its nothing he requires to live/survive on right now. he can afford to live without touching it, using it. and has no need to take anything out anytime soon
as for savvi investing. yes if at every ATH people were to cash out some and then using those funds not to spend on goods/services for lifestyle stuff. but to instead buy back btc at the correction to the post-ATH low. to maximise btc yield totals more, would be of good investment strategy.. but timing what the high is or what the low is has risks and is a bit of guess work.
i personally just hoarded 90% as is, untouched for 11 years spent about 5% and 'shorted' the other 5% amount. yes i can see i could have grew alot more coin holdings by riding the 4 year cycles of shorting an ATH. but i am still happy to have just majority hoarded aswell
i might at the next 2025 ATH short 10%-20% of my hoard and buy back in at the post-ATH correction which might be 3x lower meaning it turns 10-30% into 30-60% of hoard.. but i may also do nothing again and just keep things as is. either way ill gain in the long run. i definitely wont be cashing it all out,
alot of people in hindesight after a market history can be viewed, will say "you should have done this at that time and done that at this time" but no one in the moment can know what the future will result in. no one can predict accurately the exact top of a ATH and the exact correction of a new post-ATH bottom.
as long as he doesnt need the money now. he has no need to cash out any time soon. and with each 4 year cycle hoarding reaps its own benefits of doing nothing
I do the same because i also budget a few per cent of my salary to buy bitcoin every month but in this case the difference is probably in terms of plan.
I will not see a plan even until retirement to be in bitcoin because in this case the goal to invest must have a target and my target is not that long.
It is true that bitcoin definitely requires a long enough duration but on the other hand spending 16 years with confidence without seeing anything even though it is not prohibited but this method is too extreme in my opinion.
I always remind myself that I will be here for some targets where I will sell some in ATH before and some I will wait to be higher if it is possible and wait back with corrections and some crashes that exist later.
I will not see a plan even until retirement to be in bitcoin because in this case the goal to invest must have a target and my target is not that long.
It is true that bitcoin definitely requires a long enough duration but on the other hand spending 16 years with confidence without seeing anything even though it is not prohibited but this method is too extreme in my opinion.
I always remind myself that I will be here for some targets where I will sell some in ATH before and some I will wait to be higher if it is possible and wait back with corrections and some crashes that exist later.
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)
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