Topic: Bitcoin the best place for retirement savings. (Read 424 times)

While bitcoin is a possible option to investing your wealth, peoples choice of investments differs and depending on what is common to you, your choice of investment could be buying of land, building an estate, training your children and of course, buying and holding bitcoin.

You don't expect someone like my father who is approving the age of retirement to have invested his wealth into bitcoin, who wouldn't find that reasonable in the first place because at the time he was growing up, he wasn't used to technology and I doubt he knew about the blockchain technology while he was in his active service. What he saw people doing at the time as a means of preparation for retirement Is building houses that would be given out for rantage and then every year, e gets his rent that could sustain him till he becomes old. That'ss what he his used to and telling him to invest in crypto wouldn't make much sense to him.

Even as I am current investing and acuminating bitcoin, I don't use all my saved fund for this purpose because I understand the volatile nature of btc and the risk associated with it so I just invest the amount I am led to invest while I invest into other areas that could also bring me possible good returns.

Yes oo I grab wattin you dey talk, the Bitcoin no really easy like to put money for our normally fiat bank. If you say you wan use Bitcoin as your saving box for retirement money, that means you go have to dey very careful with your seed phrase. Because anything wey make am comot for you hand, otilor e don go be that, all your saving vammm so indeed e dey very risky. But that na one of the basic things wey person supposed to learn before e enter into Bitcoin holding. Above everything for Bitcoin the most important of them all na to safe guide your seed phrase, na why Dem recommend say make we no put am for our phone, but rather make we write am for paper store am more than one secure location for back up purpose.

I understand your point, bit bad as e bad you nk hk fit compear am with the the Time wey you invest am. Because according to predictions say as bitcoin circle dey pass, naso e dey set new ATH. meaning say the previous ATH wey you buy bitcoin don add value for the new One. So no matter how bearish the retirement age or time of withdrawal go be I think you will dey at advantage. For example you buy bitcoin when e need dip to $15k maybe like 10 bitcoin that is $150k and in the nest 10 years, bitcoin Price come reach like $500k each that is a total of $5million for I vestment of $150k so no matter how bearish the market go be, e no go fit affect you.

The knowledge wey we get now about Bitcoin na one wey person no fit even carry money learn and one thing wey make me like this forum well well and another thing again make we no forget say this matter of saving your money Bitcoin no be easy something oo because we all know the way money be and also the way Bitcoin saving dey and also the risk of where the person save him investment on. To start investment for Bitcoin never finish oo, na to follow up the investment and also security measures because so many people don lose their Bitcoin investment wey don dey for long because of so many nonsense issues like wallet security and also lack of determination and will power too but all the same sha na only person wey get the sense go know say saving your money for Bitcoin e better pass to save am for your normal fait currency.

Me I fully support wattin the op talk oo, because if at all say person na just 10 years e get before retirement  and e come start to dey save money for bitcoin before that person go retire e go done experience 2 halving, and that one alone na better profit the person go get after e use better DCA take accumulate for month by month. By the time wey the person go done finish em work don we go get better profit wey e fit use take do something for e life. But if that person say na for our naira e wan dey keep that same amount for DCA every month for em bank, that person go come back after the 10 year come observe how the fiat currency don drop value finish.

Yeah, this is good advice. I think it will be better for the civil servants if they can introduce themselves to Bitcoin so that they will be able to remove some parts of their salary and invest it in it. We know that not all the people will believe in it, but how say out of 100% people's 50% will accept it? Because of how this our country is moving currently, it is not good for a civil servant to depend on a government job without having another source of income. Even that after retirement, they're given gratitude. If the person doesn't have plans before retirement, even if they give this gratitude, it will know last no matter how the amount of the money it is at the end of day it will finish.

If at least they try to buy Bitcoin kept on till they retire, I think it will be the best favorite for them as things don't go well for our country after retirement from government work.

Wetin you talk no bad OP and with the way everything dey go now, e dey very obvious say na bitcoin na him go give you the best long term profit wey you go get after investing into am. After every halving, we dey always see the way the price of bitcoin dey increase and e don happen for like three times after three halving don take place. We suppose know say inflation na very bad something and if e affect your money wey you save, you go regret keeping d money from onset as fiat. Bitcoin na him be d best to keep your money if you wan invest for retirement, by d time you invest in it, before your retirement the money suppose don grow again and not reduce d way if you invest in fiat go dey.

Op I disagree with you a little bit on this if na for future purpose make you get a specified period  because bitcoin way you dey talk so na just 14 years old and this life as you see am so e dey very hard to predict the future who knows maybe Bitcoin fit lose him relevance this na globalization period and different technology and digital currency fit be treat to Bitcoin, just imagine say you invest your live savings into it hoping say in 10 years time you go collect your profit but the thing no come work out as plan for example e fit crash or the value reduce e no go make sense to you at by that time so I still believe say Bitcoin never fully arrive to that point way e  be place of retirement investment, I personally prefer real estate as the best place for retirement investment thank you.

Op I agree with you and weti you talk na true. Bitcoin investment na the best investment for people wey dey work for government work and it is good let dem do am when dem still dey di work so dat before dem come retire sef their investment e do n ripe for dem to start their life after active service years. For me if the person really understand bitcoin make him start di investment from the early days of his or her work so that before the person spend like 20 years in service then the money na bulk. im go use well before him go retire sef.

Na the Koko be dat na, investing in Bitcoin no be only for current gains or future profits but also for retirement as our country retirement plans self no too go well. If you dey buy Bitcoin from today until you retire, e no get how your portfolio no go dey in profits in years to come no matter how the market be. Saving in Bitcoin na sure update as you no go only make profits but you dey sure say your wealth no go reduce due to inflation. No be only oil workers wey get the benefits oh based on the kind money wey dem dey make but the common man too fit use the opportunity wey Bitcoin dun provide to use secure him future after retirement.

Bitcoin na the best place to run your retirement plans not only because of the potential price gain wey e go fit give but also because of the feature of been in control of your finances too. With Bitcoin na you dey in control so e sure for you say anything wey you dun save and Invest, you go get access to am anytime no be all this banks wey go get procedures after procedures to stress you for your own money too wey you keep for their hand and come delay you.

Just say as you dey use Bitcoin so, you need understand say if you behave anyhow and exposed your sensitive information, all your investment dun go be dat as hackers and scammers plenty wey dey look for their next victim. You need put security as your top most concern and secure your investment very well make you no go dey become another pity story of funds been stolen.

Even if bitcoin investment go bring benefit no be everybody go like am for this country and I never see, even for the estate investment, estate investment requires huge amount of money to start and some areas no dey favour estate investment. Bitcoin for better pass the real estate, cause any amount you get you use invest not like estate investment that requires a particular amount to start, no be everybody retirement money dey big but the little that person fit use am invest for bitcoin.

    Bitcoin's growth over the years makes it a perfect stop to rest all your finance with a very high certainty of bigger yield in coming months. Although cryptocurrencies brings so much profitable returns,  Bitcoin investment isn't a bad decision after all. Your wealth will be grown hourly, daily and your interests would be generated.
   All you've got to do is learn the basics well so you'd have background knowledge on the trade market and if you can't trade, get someone who's trust worthy enough and let him manage your trades for you, but It best you learn and trade by your self because no knowledge is loss and in no time you'd see the wonders that Bitcoin has in store. Of all digital assets currently, I'll still opt for Bitcoin because to me it's the safest and even more prone to bigger growth in a very short time. Although at the moment it's really expensive but always look at the brighter side in investment.

I like everi thing wey you talk. Ans I agree with you.
For this Naija I nor think say any of us go fit try am o...with the way the contri dey wey be say the level of trust don low and to try am go just be pure folly.

E better to invest your retirement money for real estate than for bitcoin. If you get mind well well you fit just put 0.5% to 1% of your funds for bitcoin and wait for whatever the outcome will be.

I don't think the best time to invest in bitcoin is during the retirement time,  at this time the money that will available won't be coming steady. I think the best time to invest in bitcoin is when one already have a steady flow of income. It doesn't make any sense for one who have retired to invest all the money he or she have in bitcoin . During this time their are things which will always demand for money and it is not possible to stick to bitcoin when their is no other way in which money comes in. Retirement money is the money for up keep which they will need to solve problems  from time to time.

Talking about where to save money, especially for retirement, Bitcoin na good place but e get relativity based on say if you go retire for time wey bear market dey wey everywhere dey deep, e go wori because d value bod your money for no come out the way you been dey expect am to come out but if you com retire for bull market everywhere don stew for you be dat lol, so d tin good pass when e b say na money wey you never wan use for a very long time, maybe like say for two or more years so dat when you go wan collect your money back e go meet with bull market.

But e still better pass bank sometimes because the interest wey bank dey give dey small, except d moni big well den sometimes d gain wey go enter ontop fit make sense small, but if na for Bitcoin especially when e b for bull market the capital fit double sef.

Yes na true say the true you talk about the government policies about pension contribution. But I want you to understand that as a worker before your salary gets to your account every month end, the government deduct your pension contribution before making your monthly payment. Now You as a worker that have now understand the potential of bitcoin and you have understand the potential in bitcoin you have to make some extra sacrifices to secure your financial life after retirement. Lets assume your Gross salary is 150k and your Net salary is 140K. That means your pension contribution is 10K. And you now being fully aware that inflation and will reduce your purchasing power after your retirement. You can decide to make extra sacrifice by investing 5k monthly on bitcoin and call it your retirement plan savings on bitcoin. Just imagine how much bitcoin you might have accumulated after your 35 years of active service in the work. Remember if you don't secure your future no one can do it for you. And now you have gotten a knowledge that your co workers don't have, so by making this 5k extra investment in bitcoin has given you an edge over your colleagues when your finally retire. Remember It is also one of the reason why bitcoin was created to counter some of the government policies that does not benefit the masses.

Op, I love this topic because na good retirement strategy na him you just bring come on board so. I believe say bitcoin say e go last long and the value go high in future based on past records and how bitcoin matter don dey serious as a profitable investment because of her volatile nature. Na the best thing to dey use 10% of your salary to dey buy bitcoin every month dey pile am as your retirement benefit because no matter how bitcoin price go fall reach in 10yrs to 20yrs time, bitcoin price go high pass when you just start to dey accumulate.

History don show say in every circle, the bottom line of bitcoin at the dip is always higher than the previous circle and also the new ATH dey high pass the previous ATH. This na very good reason why if you invest in bitcoin using NCA method frequently for 10yrs, your profit fit be 4x or more of your investment portfolio. Since SEC for some countries don approve ETF bitcoin and soon US SEC fo approve their own, e don show say bitcoin go last for the world but the price na e we no get guarantee say e go continue to dey pump, but I know say the possibility for am to dey pump dey higher than dumping.

One thing wey me I see as the disadvantage of selling bitcoin after the bull run na the compounding profit wey your investment go generate, but if you sell at every circle you no go fit get that compound profit  because as long as you dey save am for retirement, you go dey buy always no matter the price of bitcoin because you just dey save for old age. Another thing wey I come reason be say, if you watch out bitcoin investment you go see na she dey capable to give high profit than any other asset over a long period of time. No go surprise say bitcoin fit be your game changer in future

Bitcoin seems to be a very fine option. However, at retirement age, people would be looking to invest in something that has a lot of value, assets. But to be honest, a person investing in Bitcoin at retirement age is not advisable. The first thing is that, even when advising young people, people usually emphasize on the fact that your income as a person earning from one job or not earning at all shouldn't be invested in Bitcoin. Now, imagine a man who isn't earning at all, at that old age to invest in Bitcoin and lose his money.

Although, if it's possible to have people with knowledge about Bitcoin around him it would be easy. But my point is there are many other assets that are less risky for people in retirement age.

Dis no be bad ideas and anybody wey know about bitcoin and him good effect, I mean those wey be bitcoin enthusiasts, dem go want make dem savings really dey come in bitcoin. The government policy and how dey give out pension money dey very different from what you explained for your topic. Na for dis naija you go get access to pension when you never retire? I doubt so oo and na so e be for everywhere. Even if he only has access to the money after retirement when his pensions will began to be paid, he would need the money more for upkeep rather than for investment because of the nature of how things will be by then.

The only money that can only be invested at that point is the gratuity, which is also given to civil servants after retiring, it is a large money wey you fit lump sum and stock plenty bitcoin but for dat money to enter hand again after retirement na anoda wahala for d country. So everything just dey complicated if retirees really want their retirement money savings in bitcoin. If dem don dey save for long in bitcoin before retirement using maybe DCA method, their profits for don increase by dat time wey dem finish to retire from work.

wetin you tok nah coret tok but the thing be say make we tell oirsef the truth with the way bitcoin price binndey that 2009 and never sef dey pronounced as e be today , if na you that time you no go gree the invest your retirement there weda na oil company u dey owrk or not cos that year Dem the potential bin no clear.
Now as things don be, still I no go advise make person carry all the money him wan the save for retirement com the put for bitcoin, make we dey apply management risk for this tech, if the person retirement savings for the money nah like 20% I go say mk him use 10% the invest for bitcoin the remaining 10% for another normal  life Investment/business wey get profit too. Cos this bitcoin we dey see like dis, no be say I no trust am oh, but anything fit happen sonmk mam no put all him eggs for single basket. Life too short for irreparable mistakes.