Topic: Bitcoin retirement benefits - page 5. (Read 708 times)

There is one point the OP mentioned which is _almost exclusive to Bitcoin and really
counts on its decentralised nature and that is the transfer of it from one person to
another without the receiver having to incur taxes.


In my country inheritance over €16,000 can be taxed at 33%, the transfer or inheritance
of Bitcoin sidesteps this tax.

Yes, it's true, it's the same as other investment assets, so I also emphasize that Bitcoin is the best investment for a retirement fund, but don't put all your investments in one asset (Bitcoin) because this asset also has quite a high risk and put all your investments in assets with high risk is very unwise. So you need to read my statement in its entirety.

Teaching from a young age how to invest in bitcoin will help our children understand what we are doing.
Bitcoin is a good investment in the future and if we buy it now 5 or 10 years from now the price may be much higher than now.

Bitcoin can also be an inherited asset that we will give to our children later. It is the perfect long-term investment.
It is not regulated by governments or third parties, only users can regulate it. there are no storage fees or other charges. 

There is no doubt that bitcoin has all these advantages and is not dependent on government or private parties to get money for our lives. We can sell the bitcoins we have any time we want and have the money to use for our needs. And investing in bitcoin means we are preparing our life where we can live independently and survive if one day, life becomes more difficult than it is now. And if we can also prepare our children to be able to invest in bitcoin, that means we are also preparing their lives for the future so that they can be better than what we have now.

+vouch, I think something similar too, and In my honest opinion, Bitcoin should be taken as the best retirement investment.
Instead of buying shitty stocks which goes up 13% an year, I would love to ride big with Bitcoin. It's just amazing and the Cryptoverse is so interesting and happening.

Bitcoin can be an additional option for your retirement but it should not be your number one option, by law in most countries if you have a job then some of the money you earn should go to your pension fund, if you also save part of your monthly income, invest on bitcoin and you do this consistently then you could afford a better retirement or to retire early.

However do not use bitcoin exclusively for your retirement, as even if I believe bitcoin will be around for a very long time, we are talking about your future here, and if for some reason you had no other savings and at the time the price of bitcoin in terms of fiat was on the low side then you will go through your savings way faster than what you imagined, and you may have to work again when you never had any plans to do so.

Those benefits can also be received when you invest in other things like real estate and other profiting investment. If you don't need much paper works, you can invest in Bitcoin and get similar result as those investment that requires much paperwork. As a individual that knows one day, you'll become a senior citizen is important to invest for your future.

Investing is very important, but make sure you're investing in the right things so no regret in the future of investing instead of enjoying your youthful age like your peers. If you invest rightly then you can enjoy all the benefits that you've listed, it works for all investment.

I agree.

Tho, we can't deny it that it's better than using fiat as your retirement plan. Withdrawing it in a bank ain't that hard as long as you're withdrawing decent amount, unless you're going for too big cash that will make them suspect you on where did you get such large amount of cash, but I think it will still vary on what kind of work did you do before you retired, if it paid well, then I don't see any problem withdrawing big cash.

The harm that could get to you is very minimal, unless your relatives or friends are bad people that want to steal your Bitcoin, or if you're bragging it on social medias.

You know, after all, if we can only accumulate bitcoin within 5-10 years little by little, it will probably surpass the so-called mutual fund because we don't know what value Bitcoin will be after 10 years.
Because we know that every time its value in the market will definitely increase, especially next year many people hope that its value will really increase when bitcoin halving comes, we don't just know what its price will be in the market, as long as it's important is that we have something to save with bitcoin every time we can buy something, that's how simple it is to understand.

There could also be another very important factor as well, where you save your bitcoin as a retirement, and I think it will be better it will be on a hardware wallet and then you have backups of the mnemonic and private keys as well.

Because if you have poor security hygiene, you don't know, maybe what you thought that you have big money for retirements turns out to be 0 when hackers or even close relative of yours find your private keys and swept it right away. So just be careful on who you told about your bitcoin and your plan retirements.

As long as you diversify for your retirement, bitcoin is definitely an excellent option to have in your "basket". It has a tremendous amount of potential for growth and more importantly we are still in very early stages of adoption and far away from reaching mass adoption.

But you have to be careful about the other options you choose. It depends on certain factors like where you live, your personal preference and knowledge about that asset, time, etc. For example these days the stock market is the worst choice specially in places like US and Europe where the recession is creeping in and majority of companies have been having lots of troubles with energy crisis, inflation, etc. that they had to fire employees or even some file for bankruptcy, all of which has led to more dumps in the market.

This can mostly apply to almost any other investment that you think will appreciate — it's not really exclusive to bitcoin alone. But I get your point.

Actually all of your 5 points are similar to each other, you're talking about centralization. If you're working in a centralized company and your retirement will be paid in Bitcoin, do you think your Bitcoin will automatically arrive in your wallet? you're wrong because the company is controlling your Bitcoin, they can choose to not send your Bitcoin. This mean there's no difference between retirement paid in fiat or in Bitcoin.

They can go into your house and threaten you with $5 wrench attack.

It's same like fiat.

The conclusion is I don't find any benefit between fiat or Bitcoin for retirement based on your 7 points.

That's why many investors are still investing in Bitcoin, so that when that old age appear they will have nothing to worry about at the moment than to start using the bitcoins they store in the past to do whatever they want to do in the community. I don't think, I will miss my retirement benefits from Bitcoin because I have started saving some Bitcoin in my wallet so that when old age come, I will fall back to my Bitcoins and use them wisely to build some companies that will be bringing money to the family. And when the children grow up to see the investments in place they will definitely respect their parents for using the retirement benefits well.

Well, I, on this topic, perhaps differ with people on the forum who have 100% of their net worth in Bitcoin or a large part of it.

For me the retirement has to be approached from a variety, and not just focusing on having X amount of Bitcoin, as for life in general.

One thing you have to have in retirement is your paid house. Ideally many years before.

Another thing is to have several sources of income. It can be jobs that you still like to do, like for example writing for pay, and passive income, like dividends.

Then, yes, a certain amount of Bitcoin to supplement, and then you consider whether to make partial sales and/or leave it in inheritance.

Bitcoin is really a valuable asset at the age of retirement but still comparing it with fiat for the retirement won't be a fair thing. The retirement fund and pension is totally a different concept because if you get retired as a government servant you will get your monthly pensions without any effort after the age of 60.

I know the beginning process might be hard at the time of retirement because that process is really time consuming and requires some hard work and patience. And once you did that then you won't have to work any harder for getting your monthly pay slips.

On the other hand if you hold Bitcoin at the age of retirement you'll still have to be a careful person because if that's the only investment that you have at that age then safety would be the most important thing for you. As you know that Bitcoin isn't prone to technical bugs and vulnerabilities that an OS or a software could have and if your system gets hacked that is holding your bitcoins then you might not be able to recover your stolen Bitcoin.

There are also some other problems that you must have to handle if you want to get retirement with Bitcoin investment, and one of them is to always make backups of your wallets on different storage medias as any of them are prone to failure and can stop working at any time.

I would still recommend to go with both of them if you have opportunity. Even with a job you can invest in Bitcoin and have the benefits of both the pension and the investment at the time of retirement. It's always better to have two options rather than once so you can be safe without any worries.

I thing always think is that anyone who has an advantage has disadvantage. A person should invest bitcoins for a bright future life. But you should always remember that Bitcoin investment is very risky. There is always price volatility in the Bitcoin market. When the Bitcoin market reached an all-time high of $69000, I was willing to invest because I thought the market would go up from here and might not go down. From there I didn't invest then when the market started dumping and reached $40k I invested. Since then the market has only been dumping, since then I have had a lot of losses. So I mean when a person invests bitcoin for retirement and in old age that bitcoin investment is like my investment then he will end up miserable. So I mean keep some money in bank or house in cash not just bitcoins for future planning. When losses occur after investing, I can use the money left to meet my needs without selling the bitcoins.  

In my opinion bitcoin can be a retirement plant in fact fidelty investment offering 401(k) plan with cryptocurrency in it/
"In early 2022, Fidelity became the first major financial services firm to offer investors the chance to add crypto assets to their 401(k) retirement accounts. The company is a giant in the retirement business, holding more than $2 trillion in 401(k) assets, and administers the pension plans of more than 23,000 companies across the country. The company announced in April that by late 2022, employees will be able to add Bitcoin to their 401(k) accounts—if their employer allows it.
" - https://www.investopedia.com/how-fidelity-crypto-401k-works-5324019

But It thing the best is to keep it more diversity since crypto is high volatility

No, it isn't.

I've written about this topic in detail, you can see an old topic thread that I made titled "Bitcoin is NOT a replacement for the stock market/ traditional investments" - https://bitcointalksearch.org/topic/m.55577767

Bitcoin is inherently a currency, a digital currency.  Just as the US dollar and all fiats are currently traded and used as investment assets, so has bitcoin..but, that's not what it is by definition.  Therefore it is very different than stocks or bonds or money markets or whatever.

It's important to have a foundational retirement portfolio in place before you spend much on bitcoin as an investment.  

Bitcoin is the best choice as a retirement fund because it can give us the opportunity to get high profits in the future, therefore saving Bitcoin from an early age is very good. But some say that "don't put all your investments in one basket" and you definitely know what that is, when you put all your investments in one basket the risk of you losing your investment is quite high, therefore we also need to diversify our investments and not put everything in one basket.