Topic: Bitcoin retirement benefits - page 3. (Read 726 times)

Although bitcoins are good for investment but it is not recommended to put all the money you have into bitcoins. Talking about volatility sometimes you have to prepare all contingencies for basic needs and that's why it's impossible for us to put all the money into bitcoins. There are many advantages that we will get if bitcoin is held in the long term and to replace it as retirement money, because there are several patterns that can be used to make the investment more stable and consistent.

Of all the advantages and points that you convey, everyone should also think about the volatility and ability to reach other needs that must be balanced, so that when bitcoin is at a low price you don't have to sell it to cover other needs. Investment must also be balanced with other priority needs as life support and we must also prepare for all possibilities when we need money suddenly.

We obviously have to do that, and even though they are our children, we also have to give them enough knowledge about using Bitcoin to use it properly. It will be something useful for them and when we see that they are more successful than us, it will be a gift for us because we have educated them well and can develop them better. If that's the case, their lives will be better than ours and that's what we hope for.

Always be mindful about the risks and never ever neglect out those probabilities or simply with those possibilities because there's no such thing about being risk-free in terms of investment.There's
always a risk for the price to be going into the opposite way on which majorly all of people or supporters of it are expecting. We cant know on what the future holds or would look like.
This is why its really that better to be mindful on what are those chances or probabilities to happen. Im not saying that it doesnt have the future or potential because bitcoin had never
failed to impress or surprise us but we cant really be sure still on what the future looks like.

Dont go all in with your retirement funds or whatever should really be supposed to be placed on the right place. Always take up measures and be mindful about risks because
everything could turn out to be a mess if things would really be going to the opposite side.

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.

That can indeed be a good option but of course to achieve that we must also be aware that investments must be made before the time that is indeed approaching the end of your retirement age.
On the other hand, we are also certainly aware of the conditions that are sometimes not too predictable so that even though what you say is possible to happen, it is only a handful of good possibilities. Don't forget the worst thing too in this case because given the volatility of bitcoin which is sometimes very difficult to deal with, we must have some plans too before we retire of course because even though bitcoin is a good thing but it is also still at risk and don't depend entirely on bitcoin because it could also backfire.

I know that many people are optimistic about this and even I am also one of the people in it but indeed this does not mean everything because of course we must realize that the condition of the bitcoin will not be a real guarantee so do not as if being in bitcoin then it is a good thing and the problem of old age is solved.

yes, you are right, related to that we as parents or people who understand Bitcoin must also tell you about the risks that exist in Bitcoin, the price will not always go up and there will be a big drop too. However, the crypto market is volatile we need to be vigilant.

As most of us are indeed present because of the potential for quick profits, not because of its true nature as a digital currency.
This is also constrained by government regulations that apply to Bitcoin.
Telling the initial knowledge about Bitcoin would be very good. Basic trading and how to manage Bitcoin and know what risks will occur.
Preparing for their future is not just giving assets, we also have to provide enough knowledge so that they can manage it.

Now having fiat savings is a bit risky too, since inflation risks are really high. The main riddle in cryptocurrency world is whether buying crypto will save money during inflation or not. So at this moment it's quite hard to say if there is such benefit, but, in general, the development of cryptocurrency projects unveils the lack of stability in modern financial system based on fiats (mostly dollar).

No one will know how much the price of Bitcoin will be in the future but what is clear is with Bitcoin from us, our children will be very lucky to have Bitcoin already so they can use it for their benefit. And I think if we can teach them how to use Bitcoin well, they can earn and earn more.

And those of us who already have Bitcoin from now on are also very lucky and should be grateful that we are allowed to prepare for a better future. And if the adoption of Bitcoin is growing, the government will also allow its citizens to use it without any restrictions.

What you lists are true enough and I rrally agree with those.
Bitcoin can be one of the best ways for retirement invesment. I said one of, because there are actually other great investment for retirement.
here in Bitcoin, as long as we can prepare ourselves and manage our Bitcoin investment, understand whnlen to invest and when to take profits, it is enough to fulfill our retirement situation.But sometimes, life is not running very well as we plan.That is why whatever the plans, we must haveplan A, Plan B, and etc.

Being knowledgeable with investment in any form is really good for young children but factors should be considered; their initiatve, and interest towards this technology. Also, I think it is not a good thing to pass information that the market price will just continue increasing in the future and at a high rate. The market price is volatile in nature and demnd controls the price. But no one has an assurance that the demand will still be high in the future knowing that its usage is not accepted by many countries still. Let's accept the fact that most of us are here because of the profit potential and not its true nature of being a currency. Therefore, if all btc will be mined, there's a tendency for the demand to increase if paying thru such blockchain won't be useful because there are countries prohibiting its usage.

It will be a fortune for our children if they get Bitcoin in the future from our current efforts.
Providing a privilege so that they will be able to survive and compete with others from the Bitcoin investment.
I don't know what the right price is for Bitcoin in the next 20 years, but I'm sure the price will be higher than it is now.

Bitcoin becomes a cross-generational investment that can make a lot of money so it's not just a fruitless investment.
Even though it is not fully supported by the government, Bitcoin will not be eroded by the times.

I can imagine how cool it would be for someone to have some Bitcoin in their cold storage after retirement because the person would live such a free, independent lifestyle. They will not have to rely on the retirement gratuety before they can solve their needs; they can just easily spend their Bitcoin and even will it to anyone they want before they die. I still remember that when someone is late, their next of kin will go to the bank several times or even make a call to their lawyers, and some paperwork will need to be done before they can get access to the inherited asset. But when one retires with some Bitcoin, it will not be so difficult to transfer those assets to anyone of their choice if they have the need to. There are a lot of benefits to having retired with some Bitcoin investment.

And if we can teach them about Bitcoin, that would be a great lesson because they already know that there are ways they can make money in the future. They can avoid fierce competition in finding work because later on, whoever survives will be the one who will benefit.

And bitcoin has become a great way to make a long-term investment, regardless of whether they are still looking for something else to make money. At least they can prepare for retirement faster than their peers.

I think it is important to remember that if you could give it to your kids, and if you can manage to do that then it is not going to be a terrible way to leave something behind. However, I have always been in favor of sharing a place, it could be a land, it could be farm, could be an apartment, or the whole apartment building itself if you are rich, or a house ,whatever you know, it has to be real estate.

Because while we are talking about how bitcoin is limited, we are ignoring the fact that land is limited too. So if you can buy a place at a good location, leaving that to your kids is amazing. Bitcoin is cool and all, but bitcoin may fail, however a place you own is a place, it can't fail, it will always be good and will stay good.

This requires faith and trust that Bitcoin will grow over time.
Storing Bitcoin on a hardware wallet will be more secure, but you need to choose a truly secure hardware wallet without updates that give recovery access to phrase wallets like Ledger LOL. Trezor seems to be better and could be the main HArdware Wallet.

The next 20-30 years is a long time, it should be worth the amount of Bitcoin we hoard or hold in the long run.
Buying gradually would be a good strategy. having at least 1BTC would probably be a good long-term investment.

Paying pension funds with Bitcoin seems to require seriousness and acceptance by the government, if Bitcoin remains illegal then there will be no change in Bitcoin payments. Beginners are also scared because of price fluctuations so there is no stability in the value of assets held.
But it all comes back to the user and how regulations are provided.

I agree with the argument that Bitcoin is becoming an Alternative Investment.
People not only invest in Bitcoin, but many investment instruments that can be used as a profit field.
Real Estate, Gold, Bonds, etc. will provide good returns.
Likewise, Bitcoin, is a long-term digital asset that provides greater benefits, the difference is that Bitcoin is decentralized, no one regulates it, and can be owned by anyone.

Maybe I will add this idea to my financial and future planning book. Although I also had thoughts about this. But reading what you have to say seems a little more convincing to me.
Currently I do hold bitcoin for long term investment. but before that I didn't plan for when I retired. now i have that on my mind thanks to your post.

And now I'm remembering a bit about what Hal Finney did with the bitcoins he owns. He said in one of the threads he made on this forum about the bitcoins he has and he keeps them in a safe and prepares them for his future children. and it seems that he is also quite sure of his son's insight which will also be ready with the inheritance from his father (hal finney) in the form of bitcoin. And I think his current son must be very grateful for that great father figure. although it's not about retirement but about inheritance. but I thought it would be great if I had an inheritance in bitcoins like Hal Finney did.

Yes especially for the older people who can't manage Bitcoin since it's too complicated for them. So I still consider Bitcoin as an alternative investment which also gives a lot of benefits to other investment. Where people already have background such as real estate or in the banks so in the future when you're planning to give your funds to your kids then they could understand it in the future. Cuz Bitcoin is too complicated so it might take a long time for them to figure out the system.

I also agree with the points made by the op, and I also think this is a good idea, because one day we will all become old, of course, the necessities of life must always be there.
and if we apply the system as op said, of course there is nothing wrong as long as we invest in btc by first knowing the risks of long-term investment in btc.

but it would be even better if we invest in btc for our retirement funds in old age, plus retirees from other things.
so we don't rely too much on btc because we won't know the price of btc for the long term like the next 30 years and so on.

Well thought out @op, indeed, bitcoin is a great retirement option for those looking for an asset to invest their retirement fund in, bitcoin indeed is a great option, I have choose this path as well, saving money in bitcoin is a great way to truly feel financially secured at all time, and getting your money comes with absolute stress free..

I've watched or heard in the news several times how our old forks collapse and die while in queues trying to get their retirement funds, it's time an end is put to such occurrences, would be a great feat for companies to start paying their workers retirement funds in bitcoin.

The fact that it cannot be regulated by the government, third parties, or other investment companies that require renewal to keep it operating over the long term is what makes bitcoin so wonderful.

the best course of action for having bitcoin for the future is to keep it safe in a hard wallet and observe how its value increases over time without the fear of loss of assets but a secured assets.

Imagine someone hodling bitcoin for 20–30 years from now. Picture what the price will be by that time. Who knows if it will cost $500k or more?