Topic: Dad's retirement money is invested in Bitcoin! (Read 1298 times)

I totally agree with you on this very statement of yours about it not been a good idea about investing with other peoples money, not especially to mention a retirement benefit of an old man who ought to have start enjoying the fruit of his labour, living a good life, eating whatever he wants to and enjoying his last days, as in this mortar world nobody lives forever. However, it's left for his father to decide, as I'm sure he should be retired by now since O.P said he had just only 2 months.

I suggest you first, first you should give your father all the idea about Bitcoin. Teach your dad that investing in bitcoins is not only profitable, it has the potential to lose. If your father is interested in investing in Bitcoin after getting all the ideas about Bitcoin, then you will invest in Bitcoin. If your father doesn't want to invest in Bitcoin, don't force him to invest. You said your father has many dreams so as a son it is your responsibility to fulfill your father's dreams. So you will work with your father's pension money as your father wants. Your father brought you up very hard. So you will take care of your father in his last years.

If you want the best for your father, you really want to take care or give the best to your parents, why not invest your own money and give them those profits? You are investing other people's money, which means you are doing it for yourself, not for them because of the risk they will bear, not you. I don't know how old the OP is and can make money, but the idea of investing with other people's money is a bad idea, let alone whether the money matters to them or not. If you can't make money yet, you are not qualified to teach anyone how to make money. Do not use the excuse of wanting to be good for your father, but use their money for their own purposes.

I think you're not wrong in trying to make more money for your Dad, but the thing is you should risk investing your Dad's money without his decision, first he needs to be aware of your decision and also know the risk one benefits of investing in cryptocurrencies before he gives his decision to make such investment, the volatility of bitcoin makes it difficult for it's price to be predictable so if your idea of investing in it is for a short term goal, then you should take such risk to avoid regretting, in a case where you're thinking of a long term investment and your Dad would be willing to wait for a long time before using his money then it's a good idea to buy and hold bitcoin currently and wait for the next bull run by 2024, I hope you're aware of the next bitcoin halving so now it the actual time to buy and hodl btc and prepare for the next halving where you can get ×10 of your dad's pension and sell when the price of bitcoin goes high.
 Or if you're scared of taking the risk of investing your Dad's money in btc due to it volatility, there are other commodities you could invest on, like Gold, though the price doesn't appreciate very high like btc, but it's price doesn't depreciate and it appreciate gradually over time.

This is something I agree with. Making a decision for the sake of other people's money is not a good idea. You can make suggestions on what he should do with his money, but the final decision must be made by him. If something goes wrong with the money, at least you're not to blame and your conscience is clear, even if he won't blame you. However, I hope he chooses to invest in Bitcoin since I believe it will burst at the right time with very little risk if you buy now.

so its already July , have you decided what to advise your father mate? you have a good intention and as a cryptonians or Bitcoiner then you are doing whats best specially that this is a retirement money and your father will lose resources after retirement so investments in crypto will surely brings Him generous retiurn in the future.
hope that he agreed if you already told him about your plans.
and also , explain this completely to him before agreeing because it is His money and the losers once the market goes sideways.
looking forward for the long term reflections of this awesome plan, and maybe others will act accordingly as this is one of the best favor you will give to your retired parent.

If your dad agrees with it I mean it wasn't that but investing in cryptocurrency or Bitcoin, is still a very risky investment if you ask me but it wasn't that bad you could probably earn a good amount of profit if you know what you're doing and you have the knowledge about it, just make sure that you know cryptocurrency not just investing on it because you know some people who get luck investing on it. I mean if you ask me investing a small percentage of your money in cryptocurrency is already great, if you have another source of income that could help sustain you depends on how you're going to budget just invest a small percentage and it's enough already. If you're going to buy right at the moment I mean it is still early so I think there is a lot of room to make a profit in the bull run so do it. At the same time investing in other investment that is safer than cryptocurrency something like passive income might be good, slowly you could earn a good amount to start your dream house for sure.

but this is not your money so who are you to decide? and also does your father really understand crypto? because this is His money and if there is someone who must be making it to invest is Him.
at least you don't wanna be blame once market turns other ways.

Though If this is my money and being in your father shoe? I will definitely invest in Bitcoin not only half of it but instead majority of the funds, because we are now heading to Halving season and the possibility of Bull coming next year is indeed to be happen.

If he bought at the time he posted this, for sure they are on profit right now and will wait until after halving or when it reaches its ATH, but the problem is that they are mostly really investing for a house and they somewhat don't know the risk on it. Most of us don't really plan out our profits, like, for example, we hold bitcoin and we just sell it off, and that is the time we will plan what we will do with our profit. They are treating investment as a salary, which is sure that they will get their salary by the end of the month, which is why they are planning it out now, which we know in investing it doesn't work like that.

indeed investing in btc is something risky, but there are times when we have to be willing to make sacrifices to make the future brighter, and hopefully the op will benefit from his investment. yes, I also hope that the price of btc will quickly increase. and i want to see btc price in bull market more than $70k.

I'm not sure whether Op's choice to invest part of his father's pension into Bitcoin is the right choice, but if I were him then I would not touch or even give advice to my parents to invest in Bitcoin just because they want to have a house in the future, they would prefer to invest with their own money, and when the value of the Bitcoin invested is enough to buy or build a house then they will sell the BTC, I mean it could be that the pension is the only income for the family and if the pension is not enough to build a house and banking system in the country he lives in bad enough that Op lives in a country from the 3rd world where earning income is not easy, so investing when the necessities of life cannot be met properly is very likely he will sell his investment assets at a loss because of an urgent need, so always use money that is not for important things to invest and must also be money that we can afford to lose. Being able to get a better life in the future is everyone's wish, but if you choose the wrong investment, it will make your life more difficult.

I think if you do it this year then it is good decision. bitcoin as investment is good for your situation, because this investment is very liquid. but never put all eggs in one buckets. rather than divide it into 2 portions, it seems that you better to divide it into three portions. 33% for investment, 33% for daily necessities, 33% for saving. it is better to not to sell btc at wrong time so saving some fiat will be good. one more important thing is, this fund is for your father, not for you. so only do it if your father want it.

As your father has served in the army for a long time and is finally retiring. Your father is getting some pension money after thousands of hard work which is the last income of his life. And at this old age, your father will have many plans with his last life income especially aimed at brightening your future. and so you have to be aware that if you invest these hard earned money in Bitcoin, there may be risks. If you lose by investing in Bitcoin then it will be all over and your father's hard work will be lost. So you should first educate yourself about Bitcoin and then convince your father to invest. If your father is willing to invest following the volatility and various aspects of Bitcoin then you can invest. and if you invest in Bitcoin, you must hold it for a long time, only then can you make a profit.

Investing in Bitcoin can be a lucrative option for some people... but it is also a high risk investment, the value of Bitcoin is highly volatile and can fluctuate significantly in a short period of time. As a result, there is a real risk of losing some or all of the money invested. Since your parent's retirement pension is important to your future, it's crucial to consider safer and more stable options for investing or holding that money. And also to find out if this is if your father also agrees with what you are doing.

On the other hand, if your father agrees and considering that it is only half and it does not become such a high-risk investment and seeing as an annual investment, he could say that based on Bitcoin's predictions for the coming years and the behavior that Bitcoin has had this year, noting that According to the latest data collected, the current price of Bitcoin is $29,235.72 and BTC currently ranks number 1 in the entire cryptographic ecosystem, it would be a tentative investment option.

prediction table source: https://changelly.com/blog/bitcoin-price-prediction/

Analyzing the risks and not being scared when the price of BItcoin falls, it becomes a great investment, if the precision table is met it could be very beneficial for your father, even more so if you leave it not just for a year, but a few more

The reason why some parents are afraid to invest is because its all their hard-earned money and they want those use as effective way so for their children or the family itself must sustain and fulfill their needs, you cant push them as always to invest in the things they don't know, not until you enlighten them about the things they need. Yes bitcoin can be really good investment but make sure they will agree with that and show to them first what are the possible outcome. The partial investment could be ideal but not as whole money for the bitcoin again the market is volatile so you need to check as always if you're still profitable.

As your father has been in army service for 25 years. Of course he is hardworking enough. After two months his employment will end, you must spend this pension money wisely. This is your father's life money so you will use this money with much awareness I think you should not invest the entire amount of Bitcoins. You will discuss this matter with your parents in detail and come to a decision. Because if you don't bring your father's opinion then if for some reason you suffer from this bitcoin then your father will not be very pleased with you. It is also true that your father has a dream to build a house with his pension money and that you don't want to do the housework because of the high cost of goods now. Still I'd say you don't invest the whole amount of bitcoins you can invest a third of the money.

If any newbie hears people talking about bitcoin, they will not only use their savings, retirement money, but they will sell their house, sell their property to invest in bitcoin thinking that they will make more money from investing in bitcoin. Why you always insist on the return that bitcoin can bring and ignore its risks? If you are sure that the halving will help bitcoin rise in price and give advice or paint a bright future for others. You should sell all you have and invest in bitcoin, you will soon become rich without having to work.

His retirement money is very important and cannot be lost so investing in bitcoin is not a wise choice. He has sacrificed his whole life to work, and now is the time to retire to old age, not the time to earn extra money. If OP wants to invest in bitcoin, you should make your own money rather than take your dad's money to invest.

So true. But I hope OP can think more carefully in deciding to keep his father's pension. investing it in bitcoin sounds the best. But there is one condition that the OP has to think about, namely the high risk of investing in bitcoin. And I'm pretty sure that his father's pension is not money that can be given up if you have to suffer a loss. Because investing within 1 year in bitcoin I think is not long enough to get a good profit. But since we are heading for Hallving Bitcoin then maybe the upside expectation is quite good. And hopefully OP and his father are ready with the risks they face. And if Bitcoin starts an upward trend early then it will be very good for OP and his father. So they could have just by that time the value of their assets had increased rapidly and would be enough to build the dream house for his father.

Sometimes one big decision such as this one can change someone's life due to the fact that the result will most likely be positive after the bitcoin halving next year. because if we somehow experience some kind of negative results that will gonna make the price decrease instead of increase, then surely the trust and the growth of the bitcoin market will also decrease dramatically as well. But as we know lots of investors are ready to ride the trend and they are just waiting for the right time to enter the market and make the bitcoin price rise up once again next year. If they can decide to make it quick to convert it to bitcoins right now, it would have been a good idea.

I appreciate your thoughts that you want the best in maintaining the financial condition that your father earned. Building a house is your father's dream to enjoy his retirement in a comfortable place, but this intention is constrained because he considers the increasing price of goods. Inflation that occurs will make the price of goods rise almost every year, maybe next year the price will be much higher than now.

Your good plan must be supported by all family members, your attitude of wanting to invest half of the retirement benefits your father gets must get permission from all family members so that you are not blamed when something happens to these assets. There are many things that need to be considered regarding the best decision to be taken, I mean when conditions allow to build a house but assets invested in Bitcoin are still stuck because the market is not supportive, new problems will arise in the future.