Topic: Create a self-pension found with BTC. - page 3. (Read 725 times)

Including bitcoin in the pension plan is a very good idea, because you can't rely on an official pension. With the improvement of the level of medicine and health, life expectancy has increased, and the birth rate is falling (if you don't consider some countries with the opposite effect). Everyone knows that the money in the pension fund is formed from salary deductions. With each decade, less money comes into the fund due to the reduction of the working population, and more pensions have to be paid due to the increase in the number of people of retirement age. Money can't come out of thin air, which means there is no hope for a future pension, which can be canceled or made small. And here comes bitcoin, which can be used to form an alternative pension. But there is one point that is not known how to solve. The working population is forcibly obliged to make pension deductions (implemented by the employer), therefore, part of the salary will go in this direction. By creating personal alternative pension savings in bitcoin, it turns out that you pay twice (to the official pension and to the BTC-pension). Ideally, it would be great if there was an opportunity to transfer official pension savings to bitcoin, but no regulator would want to deprive themselves of your money.

Plans must be made carefully, especially if they are related to pension funds that will be invested in investments. Most people who are going to retire are over 60 years old so they don't really understand how to invest in bitcoin so that learning is needed especially because what is feared is that they will lose their pension money. The plan you make is good, but it takes consistency for people to carry it out so that nothing unwanted happens in the investment journey process.

DCA can be done to maximize pension salaries in running investments and everyone can create a certain period in making the amount of investment. The idea will be very sustainable if someone is consistent because this is how they can collect bitcoins slowly without ignoring other needs as a life support.

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.

for those in the public service, a portion of thier salary is already going into that and they wouldn't consider it necessary to still split the remaining portion that's left into another investment choice except they are earning quite a good amount of money. If you're self employed, making plans for retirement is very essential but the way I look at it is that while making the plan, it should be more about creating systems in place that will continue to generate income for you till you've retired so you wouldn't have to work all the days of your life. Bitcoin investment is a good option with sweet feature that allows you to do it using a very small amount per time and build it up to the point you're sure your retirement benefits is surely guaranteed. Apart from investing in Bitcoin, it's also essential that if you're a business person or one that's in a particular field, you make the best out of your active days so in addition to your Bitcoin portfolio, you can still have an alternative source to rely on. Even though Bitcoin investment is good for The long run, setting it out for retirement plan is still a bit risky since we can't really be too certain of the position of Bitcoin in the next 30 to 40 years time when we might have exited the sphare of active service and would want to start enjoying the dividend of our investment.

Honestly, life is very unpredictable and I had to learn it the hard way. Whatever you have right now might not be permanent so you always have to think of the future and be prepared for anything that is about to come.
I was already planning on saving some money for my retirement. It’s the right thing to do. At a certain age, if you still have no savings then I think you just wasted a lot of your years. Anyway, after being heavily included in crypto I realized saving is just not enough. I need to invest in something that would make my savings double in size without me having to actively work for it.

The money I would save now would not have the same value 10-20 years later. It would value less because of inflation but if I hold it in bitcoin, it is highly possible that it will double in amount or maybe even more.

Do you have a financial advisor in the first place?

Financial advisor isn't for Average Joe, it's only for multi millionaires. Having financial advisor when you don't really have a lot money is just wasting your money, his fees could be higher than the return from your investment.

We're not talking about self proclaimed financial advisor that not want to be responsible with the loss if they make a bad decision/mistakes.

We certainly can't tell what the future holds for BTC, but am sure there's still more coins to be mined until BTC completes its 21 million coin mark before anyone should be scared what next, or unless there's a crash which is unlikely, then this idea of pension sounds no different from what DCA strategy of investment represents.

The bottom line is that, discipline, money or cash flow is needed to maintain such a plan and even if one may be willing or able to diversify their portfolio a long the way, the pension plan would be safer with a hardware wallet, a good advisor of whom could be a financial advisor or possibly a broker.

Need to note that BTC will be harder to grow in term of price once it reached certain massive amount of market cap, like if BTC is as big as gold in term of market cap, I doubt it could always double its ATH every 4 years, the money need to come from somewhere else and such growth isn't sustaining, so I don't think just calculating based on the hypothesis that BTC always double every 4 year doesn't seem to be right.

I'd be more invested to see BTC growing to $1 million at some point rather than chasing the idea of BTC keep doubling every 4 year all the way until 30 years in to the future since it just doesn't seem to be logical to me. but bitcoin reaching $1 million with its limited supply is very logical.

I suggest not doing the planning all by yourself because if you ask me, it's definitely going to be a bad idea because you're not going to be able to cover all of the stuff that you're supposed to cover especially if this isn't your forte or anything like that, definitely recommended for everyone to get yourself a financial advisor, they will definitely help you straighten things out so you can breathe easy and deal with it the easy way, thinking alone what to do with your retirement is a hard thing to do especially if you're also have a stressful work or a work that needs all of your attention, it's probably for the best if you give the job to the professionals.

That's the most common reasoning, which is to be applied by setting aside regularly each of the shows, if we have a fixed monthly income but of course the amount can change and vary in its implementation because we have to calculate in detail how much estimated the need for funds needed for daily life first, then find the exact value that does not interfere with other needs to buy BTC with DCA.

Of course, this is very good and is another positive side where we also have a dream when we are old that we will no longer have to deal with making money, where the age factor is enough to affect all our activities, both health and others.

You don't need odd jobs for that; you need to have a source. But if it is helping you and that's the only thing you're having as a source of income then why not whether it's odd for as long as it is legal?

This is the reason why many are overworking and that is because the future stress might be gone. I agree that don't overwork but we can't help it when people are too workaholic and they have the drive to do that because they have goals trying to reach like first, owning a btc and having a good future.

Your idea is not bad, but how possible is it? Take note that pension is already deducted from ones income before it is paid, now it is going to be harder for such a person to channel another portion of their income into BTC, especially if they do not earn so much. This strategy is suitable for people who earn well and who also earn from different sources, they can use one source of their income to build a portfolio in BTC.

25-30 years is also a very long time and it is hard to predict what the far future holds for BTC, it is also likely that the person would sell their BTC on the way if they see a chance of making good returns on investment.

It is always best to find alternative options to generate income as one source can hinder you with some decisions. Look for maybe odd jobs to augment some of your basic needs so you can add more with your savings.
But in my opinion, don't overwork yourself as stress can eat you alive and you may not enjoy your savings because you will suffer some diseases or of that sort.

One way also is to reduce your expenses.. Listing can help you figure out which expenses can be removed or reduced. Play the technique of what things you need to basically survive decently. No need for luxuries as you don't need it in your life. Reducing expenses alone will give you breathing room when it comes to savings or available funds.

It's a good plan but that amount you have projected for the entire run of this savings won't be enough depending on the longevity of our remaining lives in this world. Considering inflation and such, things will surely be expensive and more expensive after 25-30 years. But I know that it's only a projection and calculation and while you're working on your self-pension fund, you should also be working for some passive income that you'll be able to build. While working on your job and getting 10% out of your salary there, work for another side hustle and that's where you'll be getting your money for establishing something that will generate you passive income and so, you still have continuous cash flow and you won't only be reliant to your pension money by the time you retire.

Well well, this is something we have discussed on this board several months ago from a thread that I created myself, and I must say that I completely agree with you, it is commonly said that things like this are better or easier said than done, but one thing I do believe is that, it take zeal and determination to succeed in anything we want to succeed in in life, nothing good comes easy and that's for sure.

Personally, I feel self pension will be too difficult to do though, because as long as the person will always have access to the fund, it's practically impossible to save that money monthly and watch it grow from a few hundreds of dollars to thousands, and then to tens of thousands without ever withdrawing from it for 25 to 30 years, this is very hard, as good as impossible.

What I believe will work is if pension managers will start accepting bitcoin as an option for clients to choose and save in, this way, the client doesn't have access to their money until the retirement age.

That's the issue especially when you're dealing with civil servants who work for the government and are not self employed or work with the private sectors. Already, their pensions are being arranged according to the civil service guidelines on what percentage of their salary is taken from them and stored into their pension accounts and how they can later take from it plus the spread. So, this may not be applicable to these category of people.

Secondly, those who are self employed or work with the private sector and may wish to pay themselves some pension funds while they are still working, the cryptocurrencies may not be their best bet because not may of them can be patient enough to bear the volatility of the market and the uncertainty of how it can turnout to be in the nearest future. I think for many, it will be a thing of using stable platforms maybe stablecoins who may be more reliable as to the worth and value of what they're investing through the DCA approach  or so

This your idea seems smart, but if closely cross-examined, you will understand that it could also be dumb idea if bitcoin doesn't obey you. We all know that bitcoin is disrespectful and doesn't obey anyone. You could just cold your USD and wait forever and $17k won't just come. By then you will live in a perpetual regret of missing a great opportunity of investment.

It is absolutely fine to go in with DCA, the worse scenario is that you won't run into massive profits, but in the other hand, you'll likely not run into massive losses.

As long as you have a good plan and strategy, it will be good for long term hold. Although the amount of returns would diminishes over price as the price is going to be very expensive and it could be very hard to get in the next 30 years as Bitcoin supply have been 'almost mined', current mined is almost 21M.

And then you will really need to have mental toughness to go to 30 years or not touching it. For the majority it is very difficult, unless you are really that resilient. So as long as you can buy, accumulate, hold, it might be good to do that but don't think of it as your pension fund, just pure investment and you will be good to go. You might be better still with a pension plan set up for you.

DCAing on btc is always a smart idea. Put 10% of your monthly savings to btc and come back 10 years later. You will be amazed with the results. The main problem with this plan is that people always check the prices. They just can’t stop with this habit. The best part is that, it is never too later to start because you ain’t going all in. There are 10 years ahead of you and you are putting only 10% of your income. This is a plan which cannot lose in the long term and you will he very happy in the end.

As long as you create this fund alongside the one you receive from your regular job for your retirement, I do not see anything wrong with it, however we need to be realistic as well, as we get older the expenses we have regarding our health can explode if we do not take care of our bodies, so enjoying our retirement is not only about being careful with our finances, we need to take care of ourselves as well, so when we get to that age we are as healthy as we can be and save ourselves a lot of pain and high expenses.