Congrats man, you made a great decision!
Soon your dad will have enough money to build to houses!
Let's hope Bitcoin will go up as soon as possible for your father to see the results of investments.
He should be proud of you!
Topic: Dad's retirement money is invested in Bitcoin! - page 2. (Read 1390 times)
OP if you feel that you are only a boy then you should refrain from deciding on how to use at least the majority of the retirement fund of your dad whom he worked hard to earn for many years. Imagine putting half of his retirement fund and all of a sudden bitcoin drops to $20k? I mean, I am confident that bitcoin will return to its previous ATH next year or 2025 but prior to that there will be a lot of up and down movements and some of them are huge swings that would trigger your emotions and including your old dad if in case he knows that his hard-earned money just lost nearly half of its value in just a span of few months.
I do admire that OP has an open mind and wide mindset but at least you do not decide the majority of the funds. In your post, I thought you worried more about inflation but you weighed more on the banks going bankrupt. You're still a boy indeed although you might learn very quickly and I am hoping you are. Bank accounts are insured OP and you should research the maximum or the standard insurance per account in your country because it means your dad can open accounts from different banks below the maximum insured amount to protect from bank bankruptcies.
I believe you are from Bangladesh. The population is too high which means a piece of land in your country is too expensive just like my country. Try to present ideas to your dad in order to open his mind knowing he is more experienced than you. Maybe you can start a little farm.
In the end, just don't forget to tell your dad to diversify his funds. Maybe scatter some to different banks thru time deposits, a piece of land, or even more, and depending on you and your family's tolerance put some into bitcoin or you can also start a business to make your dad busy.
Your concerns primarily revolve around Bitcoin' volatility and the power of diversification. Indeed, decisions about retirement funds require a calculated strategy. You're correct about bank account insurance—its a crucial yet often overlooked financial safeguard. Understanding your jurisdiction' insurance cover is critical.I do admire that OP has an open mind and wide mindset but at least you do not decide the majority of the funds. In your post, I thought you worried more about inflation but you weighed more on the banks going bankrupt. You're still a boy indeed although you might learn very quickly and I am hoping you are. Bank accounts are insured OP and you should research the maximum or the standard insurance per account in your country because it means your dad can open accounts from different banks below the maximum insured amount to protect from bank bankruptcies.
I believe you are from Bangladesh. The population is too high which means a piece of land in your country is too expensive just like my country. Try to present ideas to your dad in order to open his mind knowing he is more experienced than you. Maybe you can start a little farm.
In the end, just don't forget to tell your dad to diversify his funds. Maybe scatter some to different banks thru time deposits, a piece of land, or even more, and depending on you and your family's tolerance put some into bitcoin or you can also start a business to make your dad busy.
Yes, real estate is a tried-and-true investment. It requires active management and can be demanding, but it pays off in densely populated areas like Bangladesh. Diversification holds the magic key. A mix of various assets, including term deposits, property, and a modest dash of Bitcoin, forms a sound strategy. Launching a business, too, is a viable option as it offers a steady revenue flow.
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.
As a boy, you should try not to think about these kind of stuff because first and foremost, it is not for you to think about. Don't take it wrong, I understand that you're just trying to help your own family especially your dad because that money is a present for him from working 25 years straight in the military, now, instead of thinking hard what would be the best thing to do with it. Why not ask your father what he wanted as it is his retirement money in the first place? Aside from the house that he dreamt of course because we all know that it's just a liability especially if the land is not yours or the land is not situated in a place where its figure can go up to 2x to 5x in the next 5 to 10 years.
OP if you feel that you are only a boy then you should refrain from deciding on how to use at least the majority of the retirement fund of your dad whom he worked hard to earn for many years. Imagine putting half of his retirement fund and all of a sudden bitcoin drops to $20k? I mean, I am confident that bitcoin will return to its previous ATH next year or 2025 but prior to that there will be a lot of up and down movements and some of them are huge swings that would trigger your emotions and including your old dad if in case he knows that his hard-earned money just lost nearly half of its value in just a span of few months.
I do admire that OP has an open mind and wide mindset but at least you do not decide the majority of the funds. In your post, I thought you worried more about inflation but you weighed more on the banks going bankrupt. You're still a boy indeed although you might learn very quickly and I am hoping you are. Bank accounts are insured OP and you should research the maximum or the standard insurance per account in your country because it means your dad can open accounts from different banks below the maximum insured amount to protect from bank bankruptcies.
I believe you are from Bangladesh. The population is too high which means a piece of land in your country is too expensive just like my country. Try to present ideas to your dad in order to open his mind knowing he is more experienced than you. Maybe you can start a little farm.
In the end, just don't forget to tell your dad to diversify his funds. Maybe scatter some to different banks thru time deposits, a piece of land, or even more, and depending on you and your family's tolerance put some into bitcoin or you can also start a business to make your dad busy.
I do admire that OP has an open mind and wide mindset but at least you do not decide the majority of the funds. In your post, I thought you worried more about inflation but you weighed more on the banks going bankrupt. You're still a boy indeed although you might learn very quickly and I am hoping you are. Bank accounts are insured OP and you should research the maximum or the standard insurance per account in your country because it means your dad can open accounts from different banks below the maximum insured amount to protect from bank bankruptcies.
I believe you are from Bangladesh. The population is too high which means a piece of land in your country is too expensive just like my country. Try to present ideas to your dad in order to open his mind knowing he is more experienced than you. Maybe you can start a little farm.
In the end, just don't forget to tell your dad to diversify his funds. Maybe scatter some to different banks thru time deposits, a piece of land, or even more, and depending on you and your family's tolerance put some into bitcoin or you can also start a business to make your dad busy.
Have you ever invested before and if you have done it, what was the result? And how can you be so sure that you can get a good return in profits? The market is volatile and unpredictable. Given that fact that it's retirement money, the sum has to be big. Half of it will also be a big amount. As bitcoin is illegal here, moving that amount of money will always catch attention, and you might lose all of it in that process. One more thing, can you afford to lose what you are willing to invest? It's your father's money. Will he be okay if all the money you are willing to invest is gone? You can only make profits if the market is favorable, but as it is unpredictable, you can never be sure. What if your father decides to use that money and in that time the price is in red, and you can even sell it in loss. There are many things that you need to take into consideration before investing. Ask yourself all these question and then if you get the correct answers, you can go ahead and do it. Also, one last thing. Always start small and then climb the ladder to reach the top.
It is wise to invest in bitcoin especially if you are investing with your own money and the amount you can afford to lose but now that you want to invest with your dad's retirement money, I think you should inform him first to get his approval since it is his money not yours and also you need to chose only bitcoin investment when he finally agrees so you won't end up losing all your funds in altcoin investment because none can be trusted because they have no future.
Before you invest also try as much as possible to get knowledge on the type of investment you want to do so you don't end up wasting the money because of lack of knowledge,I will suggest you HODL but that will be more beneficial for a long term investment.
This could be a wise decision but it is very important for us to understand the level of risk op is trying or the family is trying to take since Bitcoin had been in the bear market for long now and we don't know the next step whether the market in shoot out to the moon or will want to have a taste of more bear before taking a shoot out. Before you invest also try as much as possible to get knowledge on the type of investment you want to do so you don't end up wasting the money because of lack of knowledge,I will suggest you HODL but that will be more beneficial for a long term investment.
This is a very risky decision and it will be unwise if the contrary happens and the retirement fund is not finally up to what they have invested in Bitcoin. The market can be crazy and desasterous if things do not work out the way it supposed to be creatinh unnecessary loses.
I definitely agree, it will be okay if that money is just a spare but considering the fact that it is a retirement money, I think you guys should plan it well and definitely involve your father about the plans and every possible scenario, even the worse one, so that he will be informed about what could happen in the future if things go wrong and he will be not surprised if something happens. You guys should talk about the worse because the market is not giving any guarantees, and if after that you guys are still going to invest, then that's the time.
Investing in crypto currencies can be a bit of a lot risky. Like look at last few days. As soon as SEC said something about crypto currencies and started to build a case against the exchanges, the price feel like almost 30% in few second. So yeah, it's risky, but it could also give you good returns, especially if you're thinking long term. Like you said, maybe suggesting your dad to put half of his retirement money on bitcoin is a good idea, but it must be for very long term and he should only risk his retirement money if he can afford to lose it!
And I think he decided to invest in Bitcoin for the long term, and it was the right decision rather than storing his money at the bank, and had to pay the cost of storage and pay inflation and or lost everything because the bank where he kept was bankrupt.What underlies you suggests that the pension money is divided in two, without knowing the situation seriously. I think it's better to share 40 % for various needs 30% emergency funds, because usually if you have enough old age, the body is usually more susceptible to health, and the rest can be used to invest in a long term.
But I think if his father has more ability, it is better to open a business and the results can be tabung to invest in bitcoin.
Investing in crypto currencies can be a bit of a lot risky. Like look at last few days. As soon as SEC said something about crypto currencies and started to build a case against the exchanges, the price feel like almost 30% in few second. So yeah, it's risky, but it could also give you good returns, especially if you're thinking long term. Like you said, maybe suggesting your dad to put half of his retirement money on bitcoin is a good idea, but it must be for very long term and he should only risk his retirement money if he can afford to lose it!
I agree with you because keeping your money as bitcoin is risky but cmon, what in the world today that doesn't involves risk? But the only part about your I don't like is the part where you were trying to say that the money invested should be kept for a year, although this year has not been bad for bitcoin but no one knows what can happen at the end of the year since we are still in some kind of short bull market. 
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.
Actually your intentions are very good, but you also need to explain how bitcoin works to your father. Because your father has retired and maybe now only relies on monthly pensions and interest from deposits. Where is it actually uncomfortable for you, because of course the total is very limited and you are also afraid that the bank will go bankrupt. But your father's fear is that if you invest in bitcoin, you will lose, because it is not as certain as a deposit. (Fear of no monthly money)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.
Therefore, you should first consult with your father about how to use pension money, especially if you say it's only one year. Bitcoin is very volatile in one year it can be profitable or vice versa. Just a suggestion, even if later you get permission from your father to use his money to invest in bitcoin, it's better for you to use the DCA method, don't use all the available funds. This is used to minimize losses.
Using other people's money to invest in bitcoin is never considered a good intention. I think OP shouldn't just ask his father's opinion but let him decide everything because it's the only money he depends on for the rest of his life. Investing in bitcoin is a good way to increase your wealth, but it is not the only way, and not everyone is suitable to invest in bitcoin. If it's the only money and his dad has no other source of income, it's never a good idea to use that money to invest. For some people, retirement money is very important and can't be lost, so don't give advice when we're not in their position and don't know what they're thinking.
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.
True, starching money in the bank for a long period is only a waste of asset and time as nothing profitable is attached at the end but if I should put myself In your old-boy should I would say you should let the old man breathe fresh air with his money by building for himself and family a place to call a home of his. There's no time the cost of things are going to get better or reduced not even building materials so people should always be ready to build the size of a house their money can afford for them, and I have the feeling that the old man's retirement benefit can afford him a good sizeable house looking at his years of service. Don't delve into the risk of crypto investment with another person's money despite your relationship with the person always make sure to use your own money and an amount you can overlook just in case. By so doing you have to owe anybody any explanation at anytime.Thinking about the future is good, but for old people in retirement, it's time for them to enjoy, not to start, even if it's not a problem for them to learn bitcoin, but that doesn't mean they have to get involved in it.
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.
Actually your intentions are very good, but you also need to explain how bitcoin works to your father. Because your father has retired and maybe now only relies on monthly pensions and interest from deposits. Where is it actually uncomfortable for you, because of course the total is very limited and you are also afraid that the bank will go bankrupt. But your father's fear is that if you invest in bitcoin, you will lose, because it is not as certain as a deposit. (Fear of no monthly money)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.
Therefore, you should first consult with your father about how to use pension money, especially if you say it's only one year. Bitcoin is very volatile in one year it can be profitable or vice versa. Just a suggestion, even if later you get permission from your father to use his money to invest in bitcoin, it's better for you to use the DCA method, don't use all the available funds. This is used to minimize losses.
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.
Your wishes and intentions are good, and I understood what you wanted to convey here in the forum. But it's better that you tell your father that and explain why you're doing it, just show and make him understand the reason and how complacent you are to do it that it's really not wasted.
But even so, of course it is still necessary if you are going to do that, we should still be in the "do it what you can afford to lose" and don't just hold it for 1 year, instead you should do it for 3-5 years, this is I'm just suggesting.
It is wise to invest in bitcoin especially if you are investing with your own money and the amount you can afford to lose but now that you want to invest with your dad's retirement money, I think you should inform him first to get his approval since it is his money not yours and also you need to chose only bitcoin investment when he finally agrees so you won't end up losing all your funds in altcoin investment because none can be trusted because they have no future.
Before you invest also try as much as possible to get knowledge on the type of investment you want to do so you don't end up wasting the money because of lack of knowledge,I will suggest you HODL but that will be more beneficial for a long term investment.
This could be a wise decision but it is very important for us to understand the level of risk op is trying or the family is trying to take since Bitcoin had been in the bear market for long now and we don't know the next step whether the market in shoot out to the moon or will want to have a taste of more bear before taking a shoot out. Before you invest also try as much as possible to get knowledge on the type of investment you want to do so you don't end up wasting the money because of lack of knowledge,I will suggest you HODL but that will be more beneficial for a long term investment.
This is a very risky decision and it will be unwise if the contrary happens and the retirement fund is not finally up to what they have invested in Bitcoin. The market can be crazy and desasterous if things do not work out the way it supposed to be creatinh unnecessary loses.
Firstly it's your dad retirement money, a retirement money he got from serving in the military which is a very risky job, I am surprised the way you speak of the retirement money as if the government gave it directly to you and placed you in charge of the funds.
That's what I want to ask OP because he speaks as if he is the one in custody of his dad's retirement money while he's not. OP can only take such a move if his Dad pays his whole retirement money into his account. Then he can start to move toward putting half of his father's stipend into Bitcoin. But in this situation, OP lacks access to his father's retirement funds, and his ambitions to invest in bitcoin will never materialize. How will he be able to justify investing half of his retirement funds in bitcoin without his consent, even if he does? Won't his father have a heart attack or be disappointed by that, seeing how his retirement money invested in bitcoin has depreciated in value. Given that bitcoin is a safe haven investment for crypto investors. There are some steps investors don't have to do by taking a significant risk all at once, forgetting that the crypto market is volatile.
• 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.
Exactly. Otherwise, he'd be gambling that money instead of investing.
I don't know how I make decisions as a boy.
Here the first I assume you have a deep sense of responsibility and concern for your father's financial future. Making the right decisions, especially when it comes to investing, requires careful consideration and analysis. Allow me to offer some guidance and perspective on this matter.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.
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.
At least you are aware of the current situation in your country regarding the high cost of building materials and the instability of some banks. Being aware of the economic climate is very important when evaluating potential investment opportunities. It's wise to prioritize the safety and security of your father's retirement fund, especially given his many years of service.
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.
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.
As we all know Bitcoin, as a form of cryptocurrency, has received significant attention in recent years due to its high potential returns. However, it is important to understand that investing in Bitcoin comes with inherent risks. The cryptocurrency market can be very volatile, with prices fluctuating rapidly. While it is true that some individuals profit from investing in Bitcoin, it is equally important to acknowledge the potential for substantial losses.
Given the special circumstances you have described, it may be wise to explore alternative investment options that provide a more stable and predictable return on investment and as a young individual the responsibility for managing your father's retirement fund should not rest solely on your shoulders. I think it's wiser to involve your dad in this decision-making process, as he has invaluable experience and insight into his own financial goals and aspirations meaning engaging in open and honest conversations with him will allow you to consider his point of view and work together. come to the right decision. Wishing you and your father all the best in this important decision-making process.
If it's your own money then you may not be doing wrong but since it's another person's money then you're doing wrong . There are things we're advised not to do as crypto investors and traders: never invest/trade on behalf of someone with their money; never trade/invest with amount beyond what you can absorb in the case of a loss. Be mindful of the fact that market volatility may end up not working according to your plans for the end of the year.
I think the OP should pay attention to the above suggestions before he decides to invest part of his father's retirement allowance into crypto investments, the first factor is that the investment fund belongs to his father and he must ask permission from all family members to provide long term investment solutions that have the opportunity to make big profits in a few years , and he must also explain the impact of risk of loss if he does not consistently hold assets for the long term.The second solution, if all family members trust the management of funds to the OP, then it is recommended that the investment fund is lower than some retirement benefits, for example 30% of benefits, the Op must also be knowledgeable about crypto market analysis and prioritize adding assets by the DCA method or diversification, so that OP has the opportunity buy at any price correction or better be patient waiting for bearish market conditions as BTC prices are heavily discounted.
open to each other then it wouldnt really be a hindrance to make out some recommendation in regarding to it.
and my advice OP should ask for his rights if he has them, because father's pension is definitely for his family, especially his children. And if you have the rights, there's nothing wrong with asking for them while being careful if you have the rights then you will use them to invest in bitcoin.
and with this you can explain very clearly and what your motivation is to invest in bitcoin and also explain the risks that will be faced, and with this I hope that your father is willing to invest part of his retirement money into bitcoin.
and investing in the long term is the best choice, but you have to think about how your house will be in the long term, it is best if your retirement money is divided up including home repairs. And I also don't understand because OP's admission that he wants to build a house with retirement money, does OP not have a house or does he have a house but it's not in good condition, and my suggestion is to fix the house first. If that's true, and fix it as necessary so it doesn't get worse in the long run.
and all that so that all important needs are met and you can also invest in bitcoin in the long term, bitcoin is indeed a promising long-term investment, but you have to think carefully and don't have to sacrifice something important and invest with money you can afford to lose.
Investing in crypto currencies can be a bit of a lot risky. Like look at last few days. As soon as SEC said something about crypto currencies and started to build a case against the exchanges, the price feel like almost 30% in few second. So yeah, it's risky, but it could also give you good returns, especially if you're thinking long term. Like you said, maybe suggesting your dad to put half of his retirement money on bitcoin is a good idea, but it must be for very long term and he should only risk his retirement money if he can afford to lose it!
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.
As much as I believe in bitcoin I don't think I would ever suggest my parents to invest half of their retirement funds in bitcoin, maybe like 1/10 yes, and that is already a very high stake. You better diversify also buying in the stock market but of course you must explain extremely well all the risks to your parents and make sure they put money in some kind of emergency fund just in case. 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.
If it's your own money then you may not be doing wrong but since it's another person's money then you're doing wrong . There are things we're advised not to do as crypto investors and traders: never invest/trade on behalf of someone with their money; never trade/invest with amount beyond what you can absorb in the case of a loss. Be mindful of the fact that market volatility may end up not working according to your plans for the end of the year.
I think the OP should pay attention to the above suggestions before he decides to invest part of his father's retirement allowance into crypto investments, the first factor is that the investment fund belongs to his father and he must ask permission from all family members to provide long term investment solutions that have the opportunity to make big profits in a few years , and he must also explain the impact of risk of loss if he does not consistently hold assets for the long term.The second solution, if all family members trust the management of funds to the OP, then it is recommended that the investment fund is lower than some retirement benefits, for example 30% of benefits, the Op must also be knowledgeable about crypto market analysis and prioritize adding assets by the DCA method or diversification, so that OP has the opportunity buy at any price correction or better be patient waiting for bearish market conditions as BTC prices are heavily discounted.
open to each other then it wouldnt really be a hindrance to make out some recommendation in regarding to it.
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