Create a self-pension found with BTC. - page 2.

mumang siat

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Quote from: Jewan420 on September 12, 2024, 04:38:18 AM

We can make a decision as a plan to guide our life. The biggest concern of most job seekers is what to do after they retire. This question comes to the mind of most of the employees very late, almost before retirement. I think leisure time should be planned from the start of employment. Planning at the beginning gives you longer time to make the plan a success.

Returning to a person's point of view and every thought, those who continue to work and think about their future retirement by having other actions outside of their permanent job will slowly move on to continuing to develop side jobs that were prepared when they were an employee or person. who had a fixed income before he was declared retired.

However, for those who live with broader insight with increasingly extensive information technology and know about cryptocurrencies such as Bitcoin and have been involved since they were working, I think they will tend to look at cryptocurrencies and develop themselves in search of income after they become retirees.

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Let say for someone like me who work and earn in bitcoin, on a few occasions when I am approached to make an alternative investment as most people around me thinks that I am too involved with my bitcoin accumulations, despite the fact that I am not yet satisfied with my level of bitcoin buying from my physical work salaries and as holding all my signature earning in bitcoin, it still not enough for me to say I can retire happily even though I want to retire early, but those who doesn't have my level of knowledge thinks that I need an alternative business.

But what they failed to know is that, having bitcoin alone is a life time investment that we should pay closer attention to in most cases because in so doing we can easily monitor our Bitcoin starsh to be able to accumulate more than we spend in most cases.

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A lot of threads have been created regarding this matter. No doubts we can create self-pension with Bitcoin by DCA strategies, and it will give a good return at the end of a job or business when we will become older. If we see the Bitcoin records, we can realise how Bitcoin was growing from the beginning and still it's growing rapidly. We can set a goal according to our income and deposit on a monthly basis. We must store it securely. Even if we can buy Bitcoin ten percent of our income for a future pension, it would be enough to survive the rest of our lives. Just need to take a step up.

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Quote from: stadus on September 14, 2024, 09:33:57 AM

This is actually a smart decision going into DCA with bitcoin for maximum of 30 years, and then you will gain life-changing amount of returns. That is if you won't be bothered with its high risk due to volatility and market uncertainty.

Anyone who considers investing in bitcoin as a retirement plan doesn't need to bother about volatility. A retirement plan is not something that is done in a haste, it is a long term plan and with that, good returns is guaranteed only if the investor will be patient and consistent.

Those who should avoid using bitcoin investment as a retirement plan are those who would want to invest just few months before retirement and those who are not disciplined. This group of people would end up with losses or very little returns which is as good as not investing at all.

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Quote from: stadus on September 14, 2024, 09:33:57 AM

Bitcoin is a high-risk asset, so as much as possible we need to take the highest caution to avoid regretting our wrong decision made, and for that, I suggest diversification is the key. Invest in bitcoin, but invest as well in real estate, stocks or even in small businesses that will give sustainable profits in return.

Diversification in investments transforms an investor into an ideal investor. One thing must be kept in mind before investment, money cannot be used for investment which is necessary for a person. Always choose to invest money that you will never need. Your aim will be that you are throwing away this money worthlessly, where there will be no thought of profit or loss. With such a plan you will never be disappointed with your investment.

You can use various investment methods for investing. If you have the ability, you can start investing in Bitcoin for the long term, the duration of which you decide according to your plan. If you invest as a career retirement plan then the duration will be more than 25 (in this case the duration will depend on your career). In other plans you plan for at least 4 years. Besides Bitcoin you can invest in fiat at different levels, which will be profitable for you (depending on your skills) and where you feel comfortable. Diversification in Investments If one of your investments fails, another investment can make you successful.

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Quote from: Jewan420 on September 12, 2024, 04:38:18 AM

We can make a decision as a plan to guide our life. The biggest concern of most job seekers is what to do after they retire. This question comes to the mind of most of the employees very late, almost before retirement. I think leisure time should be planned from the start of employment. Planning at the beginning gives you longer time to make the plan a success.

As part of the plan we can build a self-pension fund. Which will be governed by DCA system and will have a long tenure till retirement (about 25-30 years). An employee has 25-30 years of service. Then he retires, in many cases it is less or more than 25-30. If we build a self-pension fund early in our working life, we can extend it to about 30 years. This fund we can manage through monthly savings where a certain amount of income will be saved regularly. It may be 10% of income or more. If a person's income is $1000 then 10% of $1000 is $100, so in 30 years his savings will be $100×12×30=$36,000. Assuming 2x the profit in 30 years we get a return of at least $72,000 which I think would be enough for a retired person to live on.

Of course this is part of the long term plan and the holding period is 30 years which is too much. But if we use it as a retirement plan, it won't seem like much time.

a good idea if bitcoin is used as a support for a worker's retirement in the future, just imagine if a worker sets aside at least $ 50 per month from his salary to be allocated to bitcoin then in the next few years, the figure will increase many times over of course with the DCA method, things like this must be educated by the government because their job is to make the people prosperous, especially the working class.

stadus

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This is actually a smart decision going into DCA with bitcoin for maximum of 30 years, and then you will gain life-changing amount of returns. That is if you won't be bothered with its high risk due to volatility and market uncertainty.

Because if we are talking about a regular employee here, the fact that you are investing your hard-earned money, then you have to gain assurance that you won't lose them in the end and blame yourself for being not cautious.

Bitcoin is a high-risk asset, so as much as possible we need to take the highest caution to avoid regretting our wrong decision made, and for that, I suggest diversification is the key. Invest in bitcoin, but invest as well in real estate, stocks or even in small businesses that will give sustainable profits in return.

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Quote from: Jewan420 on September 12, 2024, 04:38:18 AM

As part of the plan we can build a self-pension fund. Which will be governed by DCA system and will have a long tenure till retirement (about 25-30 years). An employee has 25-30 years of service. Then he retires, in many cases it is less or more than 25-30. If we build a self-pension fund early in our working life, we can extend it to about 30 years. This fund we can manage through monthly savings where a certain amount of income will be saved regularly. It may be 10% of income or more. If a person's income is $1000 then 10% of $1000 is $100, so in 30 years his savings will be $100×12×30=$36,000. Assuming 2x the profit in 30 years we get a return of at least $72,000 which I think would be enough for a retired person to live on.

Of course this is part of the long term plan and the holding period is 30 years which is too much. But if we use it as a retirement plan, it won't seem like much time.

Hearing about retirement plans with Bitcoin is an interesting thing to do if it has been planned. For me, it needs to be done for one goal that everyone wants. The goal is that hard work while working can be enjoyed even though fiat experiences a decrease in value.

The percentage calculation that you describe to set aside from income is minimal with the hope that what will be obtained will be maximized later. If today the price of Bitcoin is traded at $ 60k and we can collect Bitcoin continuously below the price of $ 100k, then the return will be very satisfying. But don't force it or have to be enjoyed without being burdened at any price before it's time to cash it in.

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Workers who have excess salary may not mind if they have to set aside some of their salary to save in bitcoin. For workers who have a mediocre income, they may not be able to save in bitcoin in the long term, most of them invest in bitcoin only for a few months or a few years because there are things that make them have to take their savings for sudden needs such as, home renovations, vehicle repairs or for medical needs to the hospital. So in my opinion, only workers who have a large salary can save Bitcoin for their retirement.

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Quote from: Maslate on September 14, 2024, 05:36:16 AM

Pension funds shouldn’t be treated as investments, so putting them into Bitcoin, even gradually, remains very risky. We shouldn’t get too hyped about Bitcoin’s future with the idea that massive adoption will send its value skyrocketing. While that might happen, what if it doesn’t?

I agree with what you say, and that is why op's strategy cannot be called a 'pension plan', it should rather be called an investment plan for the future. Pension has to do with low risk, so that at retirement, the person would have funds to live for the rest of their life if possible. BTC is risky, not just in its volatility, but also on how good the owners security is, if you are storing BTC for a long term and you do not know how to safely store your funds, you can easily lose it to attackers and the consequences will be costly.

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Quote from: Onyeeze on September 14, 2024, 04:51:09 AM

The thing is that someone should do what it can do, for itself, because is obvious that anyone who is depositing in one particular wallet as it's pension with bitcoin, one day problem might come around it's corner and he will not really know when it will make a withdrawal, it will be difficult before you can see someone who will agree to have or make pension by itself through bitcoin, what we are saying is totally different from investment, investment in bitcoin is something that I know very well that has to do with understanding and strategies but for pension not everyone can reserve bitcoin as pension for long-term

As long as he know how to manage and protect his private wallet, he will not have a problem and can avoids a serious problem. Investing in Bitcoin need understanding about many things such as how to do that, what they need to prepare, how long they can do that and others. If they want to learn first before decide to invest in Bitcoin, they will have a time to prepare everything including considering how much money they can allocate in Bitcoin investment. Self pension fund will work good after they retired but only if they know how to prepare their money from now on. If not, they will only get a difficulty when he retired and will also difficult to survive or fills his daily needs. They must still fills their daily needs when they retired so that is why they must be good in managing their money from now on.

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Quote from: Jewan420 on September 12, 2024, 04:38:18 AM

We can make a decision as a plan to guide our life. The biggest concern of most job seekers is what to do after they retire. This question comes to the mind of most of the employees very late, almost before retirement. I think leisure time should be planned from the start of employment. Planning at the beginning gives you longer time to make the plan a success.

In government jobs, normally government takes over the responsibility of the person during the retirement period. And for this, governments have already opened savings accounts for that person. Where a portion of that person's salary every month is credited to the government treasury. In the same process, if a person keeps depositing some part of his monthly salary in Bitcoin, especially in DCA, then he can definitely multiply his deposit much before 30 years. Everyone knows how much Bitcoin has grown since its discovery and anyone can guess where it will go in the next 15 years. Everyone tries to save something for his future. Those who are intelligent are able to anticipate the state of future and they take decisions accordingly.

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Quote from: Kelward on September 14, 2024, 05:19:55 AM

Bitcoin is one of the best investments that anybody can go into in this crypto age. It's a long term investment and the longer you hodl the more ROI that it'll accumulate for you. DCA method is the best strategy to accumulate Bitcoin for as many years as you can into your retirement. You're your own bank and pension administrator, only you have keys to safeguard your coins on the Blockchain. This is why it's very essential that you hide your private keys and seed phrase in different safe locations because if you lose these keys your Bitcoin can be lost forever. Leave your Bitcoin in a none custodial wallet where you're the sole custodian because it it's not your keys it's not your coins.

Yes I also think Bitcoin is good investment but we need to be careful and think long term. Holding Bitcoin for long time can lead to big returns but we need to understand risks too. Good way to invest in Bitcoin is to use strategy called DCA which helps us invest little at one time over many years. It is also very important to keep our investment safe by protecting our private keys and seed phrase. If we do not control our keys we do not really own our Bitcoin. By remain careful and patient we can potentially make money from Bitcoin while avoiding big losses.

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Quote from: goldkingcoiner on September 14, 2024, 01:51:41 AM

Honestly I consider any smart investment as a a good self pension fund. But as always, dont put all your eggs into one basket. Good investment decisions are not simply made overnight.

Pension funds shouldn’t be treated as investments, so putting them into Bitcoin, even gradually, remains very risky. We shouldn’t get too hyped about Bitcoin’s future with the idea that massive adoption will send its value skyrocketing. While that might happen, what if it doesn’t?

We need to manage our risk carefully, no matter how confident we are in Bitcoin. There’s a reason Bitcoin is called a high-risk investment. If you believe in it, like @goldkingcoiner said, don’t put all your eggs in one basket. That’s a golden rule in investing.

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Bitcoin is one of the best investments that anybody can go into in this crypto age. It's a long term investment and the longer you hodl the more ROI that it'll accumulate for you. DCA method is the best strategy to accumulate Bitcoin for as many years as you can into your retirement. You're your own bank and pension administrator, only you have keys to safeguard your coins on the Blockchain. This is why it's very essential that you hide your private keys and seed phrase in different safe locations because if you lose these keys your Bitcoin can be lost forever. Leave your Bitcoin in a none custodial wallet where you're the sole custodian because it it's not your keys it's not your coins.

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The calculation is very good, for people who already know Bitcoin so closely, they may have implemented the plan consistently by setting aside 10% or more of their passive income to invest in Bitcoin as a retirement fund when they are no longer productive. The main benchmark for long-term investment plans should be based on the price of Bitcoin when it was first launched in 2009, since then, Bitcoin has experienced a rapid increase, starting from a fraction of a cent to an all-time high.

Although Bitcoin's price journey has been far from smooth due to many negative issues that can cause price declines, including the Covid19 pandemic, Bitcoin's roots are very strong because it has generated profits of more than 230% over the past decade. This plan is actually not bad because it will be very profitable if it is able to hold it until the specified time limit. However, it needs to be accompanied by other investments that can be used whenever needed without having to interfere with the main investment.

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OP this is a good retirement plan. The plan is more realistic than someone who wants to invest in bitcoin at the end of his career. There’s no way you would hodl bitcoins for 20-30 years and not realize profit. Just look at bitcoin price history.

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Quote from: ethereumhunter on September 12, 2024, 06:37:11 AM

If they see the benefit of Bitcoin and want to take part, they will do that and will save some amount like your illustration to their self pension fund. That need an effort to keep saving some amount from their salary in Bitcoin and hold it until they pension so they will have the profit when the time is come. They can get more money besides of their pension because they have an investment in Bitcoin that can give them the profit. Before they do that, they must know how much money they still have so they can know how much money they can use for Bitcoin investment. Without doing that, they will get difficulty to running their DCA system because they can not allocate some money for their Bitcoin investment.

The thing is that someone should do what it can do, for itself, because is obvious that anyone who is depositing in one particular wallet as it's pension with bitcoin, one day problem might come around it's corner and he will not really know when it will make a withdrawal, it will be difficult before you can see someone who will agree to have or make pension by itself through bitcoin, what we are saying is totally different from investment, investment in bitcoin is something that I know very well that has to do with understanding and strategies but for pension not everyone can reserve bitcoin as pension for long-term

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Quote from: Jewan420 on September 12, 2024, 04:38:18 AM

If a person's income is $1000 then 10% of $1000 is $100, so in 30 years his savings will be $100×12×30=$36,000. Assuming 2x the profit in 30 years we get a return of at least $72,000 which I think would be enough for a retired person to live on.

Of course this is part of the long term plan and the holding period is 30 years which is too much. But if we use it as a retirement plan, it won't seem like much time.

That's a nice plan and suggestions, of which I so much love it, because one of the beauty about saving such long term fund is Bitcoin is that just as the price of Bitcoin skyrocket gradually, so will your income skyrocket too within the stipulated timeframe you intend to hold it, which is far better if that same fund to to have been save in fiat bank, as not only would you not have gotten your exact savings amount, but a deduction to be charged as fees, unlike in Bitcoin whereby your intended $36,000 could skyrocket to almost over $200,000 in next 25yrs to 30yrs.

So Bitcoin is literally the best alternative for long term investment

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Quote from: Japinat on September 12, 2024, 06:45:08 AM

That’s a solid point but putting everything into Bitcoin is risky because of the volatility. Even though Bitcoin has seen great success, relying solely on it feels like gambling. It’s smart to diversify and have more stable investments if you're thinking long-term, especially for retirement.

I’m not against Bitcoin, but it’s practical to balance it out with low-risk investments or even starting a small side business. That way, if you grow that business, you might retire earlier than planned without worrying too much about Bitcoin’s price swings.

OP never said that you should put all your funds into bitcoin for the future because he specifically said 10% of your income which I believe should be part of your discretionary income after you must have taken care of your monthly expenses and needs. Some people who are working for long at the office will not have time to run around on setting up a business and running around to maintain the business, this is why investing that 10% on bitcoin is good because it is very easy to buy bitcoin. You should not also forget that the prive of bitcoin increases overtime and when you buy bitcoin every week at $100 for 30 years, your compounding profit will be bigger than whatever business you want to save $100 to set up.

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