I came across a very nice experiment of one of my compatriots. He started to put up around $ 50 a month for pension. I will add that pensions in my country are low.
Description of the experiment:
"What is going on?
One of my many areas of interest are cryptocurrencies. There is a good chance that you have heard about bitcoin. A smaller chance that you know litecoin or dogecoin. If you want to know the technical side or economic cryptocurrency - use google. For the needs of my retirement, it is enough to know that cryptocurrencies act as cash in a modern version. They have their value (they are listed on the stock exchanges, they have their course), they can be safely stored, they can be sent immediately to any distance, practically free of charge and - with a little effort - they are anonymous. And they are today at the initial stage of development. Everyone who touches them is still an early employer, and this means that - with a high probability - a long-term investment in cryptocurrencies will be very profitable. I chose 4 cryptocurrencies for my retirement basket and gave them percentages indicating their presence in the basket. When making my choice, I based my own - already several years - experience in the cryptocurrency industry, the capitalization value of a given cryptocurrency (market cap) and the features that distinguish it from other coins on the market. And so I chose:
How much do I put aside? I did not want to set any fixed amount. Because you know - inflation, fluctuations in financial markets, etc. ... So I decided that the value of a monthly investment will depend on the minimum wage in Poland. In 2017, it is an amount of $ 540. And every month I invest 10% of this amount, that is 50 $. "
He has currently invested $ 1,600, and the rate of return since early 2017 is 1,600% = $ 27k.
It's a great idea, right?
Retirement is still the mainstay of everyone in my country, pension payments in my country higher than you, we pay about $68 every month. Since the majority of the population here is a labor, then not everyone uses cryptocurrency, so to make crypto a guarantee (retirement) is not possible.
Responding to your way by investing 10% of minumum wage into cryptocurrency is a good idea, provided you never forget for other needs in your daily life. And I assume you better not to ignore away the opportunity of retirement in your country and keep paying $50 each month, it will guarantee your old age in the future.
The calculation is $50 for crypto and $50 for retirement, then you use $100 per month and if the minimum wage is the same as 2017 that is $540 then you still have $440 for your daily needs. One thing from my suggestion that should be optimized, it can all be done if you are not burdened in that way.
