I'm sure that at least half of us here has this plan or already dealing with , My wife agreed on my plan of putting half of our money inside my crypto folio in which will stand till our retirement(as our age are almost the same.
-Beneficial ? or course Bitcoin is the best no doubt .
-Retirement ? in the next couple of years will come so better be ready.
Topic: Bitcoin retirement benefits (Read 724 times)
Think of when you're aged enough, and you've enough bitcoin investment, with your small or big family no time to wait for government to pay retirement benefits. At this aged point so many things plays in your minds but no much strength to carry out any physical activities or you're ready to relocate to your village or where you build house. If you've built a good investment relationship with bitcoin then bitcoin has the following retirement benefits preferred to government or company rights:
1. Your bitcoin is right inside your pocket with your devices, no need to loby to get paid
2. You don't need to submit application, retirement documents
3. Bitcoin has no waiting season, anytime is your money
4. You don't need to struggle, fight and loby to process your retirement documents
5. When you WILLS or share your bitcoin to your children nobody will hear it
6. Nobody will threatens or charm you for receiving retirement benefits from bitcoin since is not physical cash.
7. You decided when and how to withdraw or keep it your choice.
By retirement benefits I mean when you're aged enough and you're no longer into bitcoin trading or investing more but you've enough bitcoin to withdraw and share, built family house, business and trains children. That's show you retired great.
1. Your bitcoin is right inside your pocket with your devices, no need to loby to get paid
2. You don't need to submit application, retirement documents
3. Bitcoin has no waiting season, anytime is your money
4. You don't need to struggle, fight and loby to process your retirement documents
5. When you WILLS or share your bitcoin to your children nobody will hear it
6. Nobody will threatens or charm you for receiving retirement benefits from bitcoin since is not physical cash.
7. You decided when and how to withdraw or keep it your choice.
By retirement benefits I mean when you're aged enough and you're no longer into bitcoin trading or investing more but you've enough bitcoin to withdraw and share, built family house, business and trains children. That's show you retired great.
There is one more thing, but it's doubtable if it's a benefit, since it can't be proven (at least now): the chance to save money in case of fiat inflation. There is a high risk of dollar and other main fiats inflation nowadays. However, the price of BTC can also fall in case of fiat inflation, but there is a chance to save money anyway.
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3. Bitcoin has no waiting season, anytime is your money
It is indeed that there is no waiting to cash out your Bitcoin but if we are smart, we will wait for bull market season before we cash out our money. One good reason is that we can convert it to fiat cash in much higher value than when we convert it during market crash or bear market.
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4. You don't need to struggle, fight and loby to process your retirement documents
Still, you need to compete with the transaction fee to process it more quickly though the difference in normal network might just be some hours.
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5. When you WILLS or share your bitcoin to your children nobody will hear it
But someone can read it. will and testament often come in the form of documentation and it needs a sign of a lawyer if you processed it properly. While in technical term, if your pc is infected with malware, hacker might read any activity of your device. Worst your Bitcoin might get hacked leaving your heir with just an empty wallet address.
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6. Nobody will threatens or charm you for receiving retirement benefits from bitcoin since is not physical cash.
There is news about people attacked or kidnapped by criminals because they learned about the person's Bitcoin possession. When a person has ill intention over your wealth, it doesn't matter if its digital or physical cash, they even prefer cryptocurrency specifically Bitcoin .
Bitcoin, as a decentralized digital currency, presents unique retirement benefits for individuals who choose to invest in it. Its limited supply and deflationary nature make it an attractive long-term investment option. By allocating a portion of one's retirement savings to Bitcoin, individuals can potentially benefit from its historically high returns and hedge against inflation. Moreover, Bitcoin's independence from traditional financial systems reduces the risk of government interference or economic instability affecting its value. However, it is crucial to note that Bitcoin's volatility and regulatory uncertainties should be carefully considered before incorporating it into a retirement strategy. Consulting with a financial advisor experienced in cryptocurrencies is recommended to assess the suitability and risks associated with Bitcoin as a retirement asset.
When our future retirement benefits were invested through fiat based investment plans we wear supposed to go through a stepped process. The step by step process involves filling out application, verifying KYC, adding nominee comma final settlement bond, regular premium timeline, etc. With Bitcoin based investment all these things get solved with the usage of single wallet. It is more than enough to deposit bitcoin regularly or do it whenever you are able to make some deposits. This will ease the choice of investing than allocating regular funds for the investment plan. Just the accumulation and holding is enough to enjoy the retirement. This way in each and everything there is advantage on bitcoin as retirement fund against the fiat investment schemes.
While everything may seem fine, there is a small concern to be aware of. We acknowledge that Bitcoin has brought considerable gains to many individuals, but it's important to recognize that some people have also experienced losses with it. Let's imagine a scenario where you invested in Bitcoin when its price was $70,000, but by the time you retire, its price has dropped to $15,000. In such a situation, your financial circumstances would be significantly impacted. It's essential to consider these possibilities when contemplating investing in Bitcoin with the expectation that it will support you during retirement.
Nevertheless, we are aware that Bitcoin tends to follow historical patterns. Therefore, it requires patience to wait for favorable market conditions. It's prudent to have a backup plan, a Plan B, in case Bitcoin's value plummets during your retirement. This ensures that you have alternative strategies in place to safeguard your financial stability.
Nevertheless, we are aware that Bitcoin tends to follow historical patterns. Therefore, it requires patience to wait for favorable market conditions. It's prudent to have a backup plan, a Plan B, in case Bitcoin's value plummets during your retirement. This ensures that you have alternative strategies in place to safeguard your financial stability.
I totally agree with you that it is very important to have a plan b, especially when we are planing about our finance regarding our retirement. Because if we don't plan right, we may not have a feasible plan b, when we're old and retired. Therefore as you have noted, it is important that when you invest in bitcoin to earn the financial returns in your retirement, you should have a plan b investment or savings, as an alternative in case the value of your bitcoin investment falls flat as at your retirement period. Nobody can really predict the future, therefore we should not put all our resources in one investment as regards to our retirement.
Not only with bitcoin but all other assets, when investing, we always have to have a backup plan because the future is unpredictable, anything can happen. Moreover, if it is bitcoin, a volatile and uncertain asset, then we have to be even more careful. In my opinion, the best way is to diversify into safe assets like gold or real estate. Never put all your eggs in one basket. Don't put your future in a risky asset like bitcoin even though its returns are attractive.
The points you outlined above are mostly the advantages of having Bitcoin as a retirement asset to enjoy in old age. Behind the benefits you describe, there are several other factors that make someone have to share their investment in several parts.
Land investment might be considered because the price continues to increase from year to year, unlike Bitcoin, which is highly speculative, making you have to wait to sell it if the price is dropping. Your topic direction is very good, you are more dominant in inviting those discussing here to save their wealth in the form of assets as funds that can be enjoyed in old age.
Land investment might be considered because the price continues to increase from year to year, unlike Bitcoin, which is highly speculative, making you have to wait to sell it if the price is dropping. Your topic direction is very good, you are more dominant in inviting those discussing here to save their wealth in the form of assets as funds that can be enjoyed in old age.
Another thing came to mind, if I could somehow manage to retire, even at late age, that means that my kids can do whatever they like. I mean they would be a bit on the older side if I get rich later on, but I always assumed being rich would get them to live a happy rich life, but never assumed from the business stand point, maybe they won't do none and just be rich, but we are talking about changing whole life. Think about this for a second, lets assume that you are rich enough that you do not have to work, what would you all day? Sure some say just lay all day and watch movies and play games and basically do nothing, but some people may actually do the job they love, I always thought about the first, but the latter. This means they can do any job they want, never though about that.
Funnily enough the majority of those which become rich do so because they actually like their jobs, after all it is obvious that someone which likes what they do for a living will outwork, outsmart and outperform anyone which does not like what they do.So in a way those people have not worked a single day of their lives, and even if they become rich they have no intention to retire and instead they keep working and accumulating wealth, as this comes naturally to them.
Another thing came to mind, if I could somehow manage to retire, even at late age, that means that my kids can do whatever they like. I mean they would be a bit on the older side if I get rich later on, but I always assumed being rich would get them to live a happy rich life, but never assumed from the business stand point, maybe they won't do none and just be rich, but we are talking about changing whole life. Think about this for a second, lets assume that you are rich enough that you do not have to work, what would you all day? Sure some say just lay all day and watch movies and play games and basically do nothing, but some people may actually do the job they love, I always thought about the first, but the latter. This means they can do any job they want, never though about that.
once invested, there is always risk, whether it is gold or real estate, two types of assets are considered the safest ever due to their popularity. but if you compare bitcoin with these asset classes, it is clear that bitcoin is much riskier because it is not yet widely available and has not been recognized by the majority of the world. Those who participate and accept bitcoin represent only 2% of the world population, showing that bitcoin is actually much more risky.
Among these two types of investment, gold is somewhat safe. You can buy gold and leave it for years without any stress but when it comes to bitcoin it is much riskier than gold or real estate. But with bitcoin investment, you get the most satisfying result among any other investment assets. I don't believe in OP's retirement, I don't need retirement because if I got enough bitcoin now in my wallet and I have other sources of passive income, I can enjoy life traveling with my family, and bitcoin will act like my saving for my family.
While everything may seem fine, there is a small concern to be aware of. We acknowledge that Bitcoin has brought considerable gains to many individuals, but it's important to recognize that some people have also experienced losses with it. Let's imagine a scenario where you invested in Bitcoin when its price was $70,000, but by the time you retire, its price has dropped to $15,000. In such a situation, your financial circumstances would be significantly impacted. It's essential to consider these possibilities when contemplating investing in Bitcoin with the expectation that it will support you during retirement.
Nevertheless, we are aware that Bitcoin tends to follow historical patterns. Therefore, it requires patience to wait for favorable market conditions. It's prudent to have a backup plan, a Plan B, in case Bitcoin's value plummets during your retirement. This ensures that you have alternative strategies in place to safeguard your financial stability.
Nevertheless, we are aware that Bitcoin tends to follow historical patterns. Therefore, it requires patience to wait for favorable market conditions. It's prudent to have a backup plan, a Plan B, in case Bitcoin's value plummets during your retirement. This ensures that you have alternative strategies in place to safeguard your financial stability.
I totally agree with you that it is very important to have a plan b, especially when we are planing about our finance regarding our retirement. Because if we don't plan right, we may not have a feasible plan b, when we're old and retired. Therefore as you have noted, it is important that when you invest in bitcoin to earn the financial returns in your retirement, you should have a plan b investment or savings, as an alternative in case the value of your bitcoin investment falls flat as at your retirement period. Nobody can really predict the future, therefore we should not put all our resources in one investment as regards to our retirement.
Bitcoin is a digital assets which one used as a means of payment and purchase of good's and services online, Bitcoin transaction has no limited of country, as long the wallet address is correct for the destination. In other words is a good idea to saved Bitcoin for retirement, mostly here in Africa, government no have your time as a retirement staff, because them find it difficult to pay for pensioners.
Investing in Bitcoin can be both advantageous and risky. While it offers potential for a bright future, its volatility should not be overlooked. Market fluctuations can lead to substantial losses. Diversifying investments and keeping some cash on hand for immediate needs is prudent.
Talking about real estate and gold, I think the era for real estate and gold is gradually fading away; the price and value of those investments are not actually turning into anything tangible these days.
fade away? Gold remains the most sought after asset by countries during this crisis, while real estate is the favorite asset of the rich, and they consider it a better investment than gold. as for bitcoin, we invest in it because we don't have too much money to invest in the other two assets. We take risks to make a lot of money and get rich quickly to catch up with other rich people. i also prefer investing in bitcoin to these 2 assets, but I don't want to badmouth them as they are the 2 assets that are still rated as the best, so far.
Bitcoin could be ideal to use as your additional investment and accumulate as possible and could be used for your retirement plan, but of course, you better make sure you have extra money besides it. We know how does the bitcoin volatile, and you make an investment during the ATH, and at that point, you want to retire, and the market falls it could be a large unrealized lose for you because you failed to watch the market and to secure your future retirement. Still ideal to have a plan until when you will hold and sell at that point. We are heading to your retirement plan to a rest and not stress because you lose a lot of money.
I hope you know that investment risk can only be managed and reduced, but it can't be completely eradicated no matter which form of investment it is, so the same thing is applicable to Bitcoin. No matter how long it stays, it will only gain more popularity and approval from those criticizing it, and some Bitcoin racists will turn their backs on it and become Bitcoiners, but that will not change its volatile nature, which puts your investment at high risk, especially when you buy at a higher price.
once invested, there is always risk, whether it is gold or real estate, two types of assets are considered the safest ever due to their popularity. but if you compare bitcoin with these asset classes, it is clear that bitcoin is much riskier because it is not yet widely available and has not been recognized by the majority of the world. Those who participate and accept bitcoin represent only 2% of the world population, showing that bitcoin is actually much more risky.
You have a point there. After all, bitcoin is a very new asset and still not widely accepted, so there is still a lot of risk, and it would be a bad idea to bet our future entirely on bitcoin.
I don't think Bitcoin should still be considered a new asset. If Bitcoin were to be a person, that is, a foreigner living in a foreign land, 10 years is enough to make it a citizen of that country, which will consider it not to be a stranger any more. So to me, Bitcoin is actually no longer a new asset as far as I am concerned, and if I may ask, how long do you want Bitcoin to stay before you can consider it old enough to be worth your investment or pass the risk requirements?
I call it new because I am comparing bitcoin to gold and real estate, 2 assets that are thousands of years old, while bitcoin is 14 years old, if it is not new, it is too young. It's risky not just because it's young but look at its capitalization, its popularity. The market capitalization is just over $1 trillion, which is 1/10 of gold and 1/80 of the stock market. Many countries have yet to recognize it as a real asset...all of this suffices to say it's too risky. But in return, the higher the risk, the higher the profit potential.
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Talking about real estate and gold, I think the era for real estate and gold is gradually fading away; the price and value of those investments are not actually turning into anything tangible these days.
I quite agree with you. There were times in the past when real estate and gold investments were really taken seriously as the major means of investment, but currently, I think there are a lot of people on the Bitcoin investment train. It's not as if there are no people still clamoring for gold and real estate investment, but not as much as before.
The era is gradually reducing compared to before, but I don't believe it can permanently disappear, it has been the old means of investment, so it will yet continue to exist. It won't exit; they will be there, but the value may be reduced compared to what we are seeing now.
I hope you know that investment risk can only be managed and reduced, but it can't be completely eradicated no matter which form of investment it is, so the same thing is applicable to Bitcoin. No matter how long it stays, it will only gain more popularity and approval from those criticizing it, and some Bitcoin racists will turn their backs on it and become Bitcoiners, but that will not change its volatile nature, which puts your investment at high risk, especially when you buy at a higher price.
once invested, there is always risk, whether it is gold or real estate, two types of assets are considered the safest ever due to their popularity. but if you compare bitcoin with these asset classes, it is clear that bitcoin is much riskier because it is not yet widely available and has not been recognized by the majority of the world. Those who participate and accept bitcoin represent only 2% of the world population, showing that bitcoin is actually much more risky.
Do you calculate bitcoin risk by recognition, or do you calculate bitcoin risk by both recognition and volatility?
There is every tendency that any investment with a high possibility of a higher reward always has a greater risk when you view it from the financial studies and adviser point of view.
Talking about real estate and gold, I think the era for real estate and gold is gradually fading away; the price and value of those investments are not actually turning into anything tangible these days.
Placing bitcoin side by side with retirement funds as relates to the context in which OP is referring doesn't seem right to me. Your galking about a package in comparison with money or an asset (bitcoin). They both aren't the same but still, has value attached.
Retirement funds as regards banks, government/organisations and individuals is a package prepared by either the government or the organisation for which the individual is affiliated to save a portion of there income as a retirement fund and gratuity for years of services.
Investing in bitcoin is a whole different story. In fact, it has almost no deference as operating a fixed deposit account. The only difference is in the currencies involved and the rudiments about there operation.
Retirement funds as regards banks, government/organisations and individuals is a package prepared by either the government or the organisation for which the individual is affiliated to save a portion of there income as a retirement fund and gratuity for years of services.
Investing in bitcoin is a whole different story. In fact, it has almost no deference as operating a fixed deposit account. The only difference is in the currencies involved and the rudiments about there operation.
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