Bitcoin as a Retirement Account - page 16.

GreenStox

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Quote from: Argwai96 on June 22, 2015, 02:18:23 PM

Setting 21 btc has a long term retirenment plan was my plan last year, i still have them on cold storage with my encrypted key in a safe so when i turn 60 life could be much better then what i planned for, well hopefully by that time bitcoin is worth 1m usd a btc.

Depends how old are you. I am estimating about 20.000$ / BTC in about 10 years if everything goes as planned.

If a financial crisis breaks out (very likely) then it can go even to 200.000 in the next 10 years!

So at this point we stand at a crossroad. In any case bitcoin's future is bright!

Argwai96

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Thug for life!

Setting 21 btc has a long term retirenment plan was my plan last year, i still have them on cold storage with my encrypted key in a safe so when i turn 60 life could be much better then what i planned for, well hopefully by that time bitcoin is worth 1m usd a btc.

Acidyo

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Will Bitcoin Rise Again to $60,000?

Quote from: GreenStox on June 22, 2015, 01:03:03 PM

Quote from: Amph on June 22, 2015, 10:04:08 AM

Quote from: GreenStox on June 22, 2015, 09:42:50 AM

Quote from: Amph on June 17, 2015, 01:08:42 AM

Quote from: zeraTunerse on June 16, 2015, 08:42:51 PM

Quote from: retrend on June 16, 2015, 12:27:50 PM

It's not exactly retirement planning though is it, it's basically just taking a punt on something with very low odds of long term success.

You don't need bitcoin to do that.

That is true and I don't think that bitcoin as an retirement account is an great idea as you don't know what is the future of bitcoin whether it will reach to a new level or else it would just disappear so it sounds little bit risk to hold bitcoin as an retirement account.

everything is not certain at this point, bank can fail, your life can fail, your entire country can fail too, so adding a little risk and investing in bitcoin for your retirement, does not sound that off to me

bitcoin is still more of a safe heaven then a secure disaster, it's all about probability not certainties, if something has more chance to grow then you invest in it, nothing more nothing less

Ok but what do you mean by retirement account exactly?

Telling your private pension fund manager to buy on your behalf some bitcoin in your portfolio, and trust the fund to not go bankrupt in the next financial crisis?

Or

Just buy yourself bitcoin with your savings and keep it in an offline cold wallet?

the second one, but i think some one is implying the first one, maybe they are payed in bitcoin directly?

if the you do the second one you mentioned you can essentially start to do it before your retirement kick in, i don't see any difference in waiting for your retirement to start saving in bitcoin, it should be done when the price is favorable, as it is right now

Well alot of people when thinking about retirement they mean the retirement plan or retirement fund they are using.

But you can retire at 25 too, if you can earn the money lol.

Retiring at 25 is what we all hope for these days. If BTC soars passed $1000 again, I can tell you retiring by 30 wont be impossible. Investing in BTC long term is the right ticket with all the news brewing up. Something big will happen that makes Bitcoin price soar beyond our wildest dreams!

GreenStox

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Quote from: Amph on June 22, 2015, 10:04:08 AM

Quote from: GreenStox on June 22, 2015, 09:42:50 AM

Quote from: Amph on June 17, 2015, 01:08:42 AM

Quote from: zeraTunerse on June 16, 2015, 08:42:51 PM

Quote from: retrend on June 16, 2015, 12:27:50 PM

It's not exactly retirement planning though is it, it's basically just taking a punt on something with very low odds of long term success.

You don't need bitcoin to do that.

That is true and I don't think that bitcoin as an retirement account is an great idea as you don't know what is the future of bitcoin whether it will reach to a new level or else it would just disappear so it sounds little bit risk to hold bitcoin as an retirement account.

everything is not certain at this point, bank can fail, your life can fail, your entire country can fail too, so adding a little risk and investing in bitcoin for your retirement, does not sound that off to me

bitcoin is still more of a safe heaven then a secure disaster, it's all about probability not certainties, if something has more chance to grow then you invest in it, nothing more nothing less

Ok but what do you mean by retirement account exactly?

Telling your private pension fund manager to buy on your behalf some bitcoin in your portfolio, and trust the fund to not go bankrupt in the next financial crisis?

Or

Just buy yourself bitcoin with your savings and keep it in an offline cold wallet?

the second one, but i think some one is implying the first one, maybe they are payed in bitcoin directly?

if the you do the second one you mentioned you can essentially start to do it before your retirement kick in, i don't see any difference in waiting for your retirement to start saving in bitcoin, it should be done when the price is favorable, as it is right now

Well alot of people when thinking about retirement they mean the retirement plan or retirement fund they are using.

But you can retire at 25 too, if you can earn the money lol.

Amph

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Quote from: GreenStox on June 22, 2015, 09:42:50 AM

Quote from: Amph on June 17, 2015, 01:08:42 AM

Quote from: zeraTunerse on June 16, 2015, 08:42:51 PM

Quote from: retrend on June 16, 2015, 12:27:50 PM

It's not exactly retirement planning though is it, it's basically just taking a punt on something with very low odds of long term success.

You don't need bitcoin to do that.

That is true and I don't think that bitcoin as an retirement account is an great idea as you don't know what is the future of bitcoin whether it will reach to a new level or else it would just disappear so it sounds little bit risk to hold bitcoin as an retirement account.

everything is not certain at this point, bank can fail, your life can fail, your entire country can fail too, so adding a little risk and investing in bitcoin for your retirement, does not sound that off to me

bitcoin is still more of a safe heaven then a secure disaster, it's all about probability not certainties, if something has more chance to grow then you invest in it, nothing more nothing less

Ok but what do you mean by retirement account exactly?

Telling your private pension fund manager to buy on your behalf some bitcoin in your portfolio, and trust the fund to not go bankrupt in the next financial crisis?

Or

Just buy yourself bitcoin with your savings and keep it in an offline cold wallet?

the second one, but i think some one is implying the first one, maybe they are payed in bitcoin directly?

if the you do the second one you mentioned you can essentially start to do it before your retirement kick in, i don't see any difference in waiting for your retirement to start saving in bitcoin, it should be done when the price is favorable, as it is right now

GreenStox

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Quote from: Amph on June 17, 2015, 01:08:42 AM

Quote from: zeraTunerse on June 16, 2015, 08:42:51 PM

Quote from: retrend on June 16, 2015, 12:27:50 PM

It's not exactly retirement planning though is it, it's basically just taking a punt on something with very low odds of long term success.

You don't need bitcoin to do that.

That is true and I don't think that bitcoin as an retirement account is an great idea as you don't know what is the future of bitcoin whether it will reach to a new level or else it would just disappear so it sounds little bit risk to hold bitcoin as an retirement account.

everything is not certain at this point, bank can fail, your life can fail, your entire country can fail too, so adding a little risk and investing in bitcoin for your retirement, does not sound that off to me

bitcoin is still more of a safe heaven then a secure disaster, it's all about probability not certainties, if something has more chance to grow then you invest in it, nothing more nothing less

Ok but what do you mean by retirement account exactly?

Telling your private pension fund manager to buy on your behalf some bitcoin in your portfolio, and trust the fund to not go bankrupt in the next financial crisis?

Or

Just buy yourself bitcoin with your savings and keep it in an offline cold wallet?

s1gs3gv

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ex uno plures

Hope for the best. Plan for the worst.

GreenStox

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Put aways 5-10 bitcoins in a secure wallet or paper wallet.

Wait until you hit 55-60 , check the bitcoin price, and you will be amazed.

It is highly likely that if you buy it now at 200$, by then it will be 5000$, thats a nice retirement plan.

And then just start investing it here and there and live off the dividends.

zeraTunerse

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Quote from: planetroving on June 17, 2015, 06:52:29 PM

I'd certainly base part of my retirement on Bitcoins. I might get lucky and even profit, but of course, the opposite might happen. Just don't use Bitcoin as your single way of funding your retirement, as it might be worth less when you reach your retirement.

Yes thinking it as an retirement account would not be safe or else we can vision it for the short period of time lets say 5 years. The picture would be clear in next 5 years and if you can make profit out of it at that particular time then no need to wait till retirement age. Grin

Erza

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Quote from: zeraTunerse on June 16, 2015, 08:42:51 PM

Quote from: retrend on June 16, 2015, 12:27:50 PM

It's not exactly retirement planning though is it, it's basically just taking a punt on something with very low odds of long term success.

You don't need bitcoin to do that.

That is true and I don't think that bitcoin as an retirement account is an great idea as you don't know what is the future of bitcoin whether it will reach to a new level or else it would just disappear so it sounds little bit risk to hold bitcoin as an retirement account.

At least you can earning through bitcoin because bitcoin still have a long way to go. The price doesnt stuck in this level for a long time

Quote from: mayflor2 on June 17, 2015, 09:25:32 AM

Quote from: cbeast on October 31, 2014, 08:17:47 AM

Putting 1% of your retirement contributions in Bitcoins wouldn't be a bad idea.

Definitely not a bad idea. Even putting 10% of it wouldn't be a bad idea, but investing too much and 'relying' on btc would be a very bad idea. The only thing inevitable in this world is change. Change can be positive and negative so, you just never know.

10% is a great amount too but if can manage it well I dont think that will be the problem to you and relying on bitcoin is not a bad things too because

bitcoin journey wont end in this decade so when if you are in your retirement phase you already get a lot of bitcoin that ready to be sold

planetroving

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I'd certainly base part of my retirement on Bitcoins. I might get lucky and even profit, but of course, the opposite might happen. Just don't use Bitcoin as your single way of funding your retirement, as it might be worth less when you reach your retirement.

mayflor2

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Quote from: cbeast on October 31, 2014, 08:17:47 AM

Putting 1% of your retirement contributions in Bitcoins wouldn't be a bad idea.

Definitely not a bad idea. Even putting 10% of it wouldn't be a bad idea, but investing too much and 'relying' on btc would be a very bad idea. The only thing inevitable in this world is change. Change can be positive and negative so, you just never know.

Amph

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Quote from: zeraTunerse on June 16, 2015, 08:42:51 PM

Quote from: retrend on June 16, 2015, 12:27:50 PM

It's not exactly retirement planning though is it, it's basically just taking a punt on something with very low odds of long term success.

You don't need bitcoin to do that.

That is true and I don't think that bitcoin as an retirement account is an great idea as you don't know what is the future of bitcoin whether it will reach to a new level or else it would just disappear so it sounds little bit risk to hold bitcoin as an retirement account.

everything is not certain at this point, bank can fail, your life can fail, your entire country can fail too, so adding a little risk and investing in bitcoin for your retirement, does not sound that off to me

bitcoin is still more of a safe heaven then a secure disaster, it's all about probability not certainties, if something has more chance to grow then you invest in it, nothing more nothing less

Harry Hood

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The commercial version of a pension is an annuity. They work the same way except the buyer/investor has more options on what their money is invested in, what kind of benefit they get, etc. The problem with annuities is the price/costs are high.

A not-for-profit pension firm offering an annuity at lower cost would be the best option. Maybe bitcoin can serve a good purposes this way funding the charitable causes of the world.

bryant.coleman

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Quote from: wearepoor on June 16, 2015, 07:25:07 PM

Pension plans are not good enough I guess. They don't pay a high rate of returns and you also have to pay the premium monthly or yearly depending upon the plan but If you hold good amount of bitcoin then it can proved to be a good investment option at the retiring age and you can sell bitcoins anytime you wish its not compulsory that you have to wait till you get retired Wink

Pensioners are getting a raw deal in the recent times, in many parts of the word. Take Greece for example. The government has severely reduced the pension payments, in order to obey the terms of the austerity measures. Imagine someone who has contributed to his pension fund for 30 or 40 years suddenly waking up, to find that 90% of the funds are gone.

zeraTunerse

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Quote from: retrend on June 16, 2015, 12:27:50 PM

It's not exactly retirement planning though is it, it's basically just taking a punt on something with very low odds of long term success.

You don't need bitcoin to do that.

That is true and I don't think that bitcoin as an retirement account is an great idea as you don't know what is the future of bitcoin whether it will reach to a new level or else it would just disappear so it sounds little bit risk to hold bitcoin as an retirement account.

retrend

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Sorry but what you are saying is almost criminally stupid.

wearepoor

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Quote from: xavi21 on June 16, 2015, 12:39:40 PM

I don't think its an good idea to have an bitcoin as a retirement account as the future of bitcoin is still blank. We don't know whether it will replace fiat or not but i would prefer to invest in some pension plans which would pay me assured amount of money monthly rather then going for bitcoin retirement account.

Pension plans are not good enough I guess. They don't pay a high rate of returns and you also have to pay the premium monthly or yearly depending upon the plan but If you hold good amount of bitcoin then it can proved to be a good investment option at the retiring age and you can sell bitcoins anytime you wish its not compulsory that you have to wait till you get retired Wink

xavi21

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I don't think its an good idea to have an bitcoin as a retirement account as the future of bitcoin is still blank. We don't know whether it will replace fiat or not but i would prefer to invest in some pension plans which would pay me assured amount of money monthly rather then going for bitcoin retirement account.

retrend

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It's not exactly retirement planning though is it, it's basically just taking a punt on something with very low odds of long term success.

You don't need bitcoin to do that.

Topic: Bitcoin as a Retirement Account - page 16. (Read 22749 times)