Your dad serves in the army for 25 years, it seems you need to live through the horror of war before you understand how hard that must have been for your father, now you want to risk all that he ever worked for? its not with it because Bitcoin is still risky and for someone who risked his life all the days of his life bro, nah I will never do such to my father if he is in the military.
It's fine that you want the best for him in his retirement days but take some very small portion of the money and buy bitcoin instead of risking it all, do not add to the difficulty that your old man have faced on the battlefield, it's not easy.
Topic: Dad's retirement money is invested in Bitcoin! - page 11. (Read 1376 times)
So right now I am not able to give him any proper advice as a boy. But one thing I've been wondering for a few days is if I invest half of my father's retirement allowance in Bitcoin, am I doing something wrong?
I feel like if I invest half the amount in Bitcoin for a year after receiving his retirement allowance, I might be able to hand over more money to my dad at the end of the year.
Hope I get proper advice from you.
It doesn't seem like your family (your father in particular) is fully dependent on your retirement money since he's thinking of building a house or keeping it in a bank. But what caught my attention is that you are able to control that money and your father does not have full decision-making power over it.I feel like if I invest half the amount in Bitcoin for a year after receiving his retirement allowance, I might be able to hand over more money to my dad at the end of the year.
Hope I get proper advice from you.
No one can give you useful advice according to the little information about your father's situation because I consider that money is his right and no one has the right to take a decisive decision about it, especially since a person of retirement age may not have enough time to benefit from an investment in Bitcoin or any of the digital assets.
In general, if the amount is good, it is better to discuss with your father about his needs for the coming period and about the size of the amount that can be deducted to invest in Bitcoin. The idea of investing in Bitcoin is not bad in any case, but it is always preferable not to venture into investing in what we fear we will lose, given that it is your father's money and not your money.
By the way, your father's idea of building a house is not bad if you have enough land, and it is suitable for a person of his age and status.
The pension money is not a bad idea if they already have gotten the gratiuity money and provident fund money from the government for serving in the military. That is a special quota and almost every country follow this norm so it is anyway irrespective of your nationality. If this is the case then go ahead and spend some money on bitcoin but do ask your fathers permission for the same. He must be very delightful about it and have his consent no matter what is the situation in your house. If everything comes to an agreement then I don’t think anything or anyone can stop you from investing that money for the good reasons.
But one thing I've been wondering for a few days is if I invest half of my father's retirement allowance in Bitcoin, am I doing something wrong?
I feel like if I invest half the amount in Bitcoin for a year after receiving his retirement allowance, I might be able to hand over more money to my dad at the end of the year.
• The first rule of investing is not to stake what you cannot afford to lose. From your thread, your dad and the rest of the family are heavily dependent on the pension, putting that into a volatile asset is a risk, one you have to think long and hard before making.I feel like if I invest half the amount in Bitcoin for a year after receiving his retirement allowance, I might be able to hand over more money to my dad at the end of the year.
• One year is a relatively short space of time. If you're going to invest in Bitcoin in the hopes of getting a return within a short period of time, you could very well be disappointed. Life situations can also come up before then that would require you to liquidate earlier.
There is also the flip side where Bitcoin rises significantly within that period and you actually can give him more money.
Consider the risk to reward ratio before making your suggestion.
Using spare money to buy Bitcoin gives you the liberty to easily wait through price dips and not panic sell.
I don't know how I make decisions as a boy.
My father is a military man. He has served in this military sector for 25 years. His term of service is almost at an end. After two months he was going to retire from the job. He will get retirement pension after his service life in the military sector and he has many plans based on this retirement pension.
His first dream is to build a house with this retirement money. But right now in my country all the materials needed to build a house are very expensive so building a house right now can't be a good decision. And I don't feel safe keeping his pension money in the bank because earlier there was inflation in my country where some banks went bankrupt.
So right now I am not able to give him any proper advice as a boy. But one thing I've been wondering for a few days is if I invest half of my father's retirement allowance in Bitcoin, am I doing something wrong?
I feel like if I invest half the amount in Bitcoin for a year after receiving his retirement allowance, I might be able to hand over more money to my dad at the end of the year.
Hope I get proper advice from you.
My father is a military man. He has served in this military sector for 25 years. His term of service is almost at an end. After two months he was going to retire from the job. He will get retirement pension after his service life in the military sector and he has many plans based on this retirement pension.
His first dream is to build a house with this retirement money. But right now in my country all the materials needed to build a house are very expensive so building a house right now can't be a good decision. And I don't feel safe keeping his pension money in the bank because earlier there was inflation in my country where some banks went bankrupt.
So right now I am not able to give him any proper advice as a boy. But one thing I've been wondering for a few days is if I invest half of my father's retirement allowance in Bitcoin, am I doing something wrong?
I feel like if I invest half the amount in Bitcoin for a year after receiving his retirement allowance, I might be able to hand over more money to my dad at the end of the year.
Hope I get proper advice from you.
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