Topic: Dad's retirement money is invested in Bitcoin! - page 3. (Read 1375 times)

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.

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.
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.

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.

The world of investments is never a surefire bet, not even with Bitcoin. I agree that the current ~60% drop from its ATH does paint a bleak picture. However, the essence of Bitcoin, or any investment for that matter, is not captured by its momentary performance but its long-term trajectory. Bitcoin, throughout its 14-year existence, has shown phenomenal growth. Its demonstrated its capacity to bounce back from lows and reach staggering highs. Of course, this doesnt guarantee a similar trend in the future. Yet, should we discredit its potential based on the current downturn? Indeed, thinking that the price will surge post-halving is naive. Numerous factors drive Bitcoin's value, and we must acknowledge these complexities. Bitcoin is not a ticket to overnight wealth, but rather a testament to the potential of decentralized, digital currencies. Therein lies the real value!

This should be an agreement between you and your dad; you can't rely on your opinion and that of others here because we are not going to share the risk involved with you. It's risky for you to invest up to half of the funds in Bitcoin; instead, you can discuss with your dad that even if 1–10% of it can be invested over a long period of time, it reduces the amount at stake, and you can as well keep a close watch on the price movement since the invested amount will be less. There's no need to panic sell; you can wait patiently for the price to go up in order to realize a profit.


What do you mean by "diversification"? Does sharing the assets with different altcoins change the fact that crypto investment is risky for such a kind of money, which seems to be the family's live savings?


The OP doesn't need to undergo anything in order to understand what the pension means to the father; a reasonable and close child to the parent will understand all that it took the dad to make a living; they share the pains indirectly, and the OP is not just taking all the father's retirement funds to invest in Bitcoin; all he/she asked for was an investment idea in order to increase the father's retirement fund so that it can cover up the expected expenses. Even if not all, at least a little thing will be added to it; it's better than nothing.

In 14 years of existence and development, bitcoin has had impressive growth, and anyone looking at it must be envious. But that cannot guarantee that in the future things will still happen and history will always repeat itself in such a simple way. If bitcoin investment is that easy as long as long term holding is sure to be profitable, then I will sell all my assets to invest in bitcoin without worry, LOL.

Like what is happening, when everyone knows bitcoin will increase in price after the halving? Is it that simple? Are we all going to get rich so easily?

smart investors do not see the $69k all time high as a "value" point that has lost.
they see it as the temporary premium..

EG a bottom of $10k in 2021 that had a temporary hype of 6.9x
(flip your mindset to see the bottoms as the value, not the tops

for many years i have always evaluated bitcoin from its well tested BOTTOMS (not the highs)
EG 2017 was a $900 value not a $20k value
EG 2021 was a $10k value not a $69k value

if you look at value from the bottom and then understand things from the bottoms.. then you can then GAMBLE on your future by deciding when you buy in above the bottom which obviously if you buy in 2021 at $69k when the recent bottom was $10k(in 2021) that you will effectively be waiting 6.9x longer than if you did buy the bottom
because eventually the bottoms do rise to then out pace a previous high..


yes we are no longer in the 2011 era of a 100x spread. or in the 2017 era of a 21x spread
we are in an era of a 5x spread meaning it will take longer to reach 6.9x of old bottom becoming new bottom. and eventually after a few cycles this spread will be ~2x meaning people will need to control their emotions more and not buy the hypes(highs) as much and instead concentrate on buying the dips/corrections(near bottom)

What exactly makes you think so? Bitcoin is currently down ~60% from its ath ($69k), so how can you claim it has never lost in the long run?
What you mean is that historically Bitcoin's price moved in cycles, with each cycle bringing new ath, but, as the things currently are, you cannot say that it has never lost, as that's simply incorrect.
Also, the belief that the price will keep moving in the same pattern forever is naive. It's simply not possible for it to move by a similar percentage each cycle, as everything has its limits.

First of all, don't invest your money in one bank if you are afraid of banks going bankrupt and losing your money. Deposit your money in several banks and keep it that way. I can say this about buying Bitcoin and waiting. If you have enough time to wait in the long term and enough money in the process, you can invest. Bitcoin has never lost in the long run. Still, the decision should be yours. You should know the risks and act accordingly in the market. Just as banks are likely to fail, so are stock markets. That's why you should learn ways to protect your investment. You need to learn methods such as cold wallet.

Investing your father's retirement pension on bitcoin is not a bad idea. But remember you should only invest the money that you only afford to lose because even bitcoin will give you a higher return there will be a much bigger risk. We all know that bitcoin has a huge potential. But if you are in need of money, investing your father's retirement money is not a good option because your father will not be happy if the price of it will go down to 50%. So try to figure this out with your father on what you should do on investing his money on bitcoin.

Are you deliberately lying to your father and family? I mean, I just see you focus on talking about the positives and the potential of bitcoin, and you ignore the potential risks it can bring. Don't forget, the higher the return, the higher the risk and bitcoin is one of them. Instead of just wanting to take your dad's retirement money to invest by just talking about the potential and ignoring the risk, you should be more honest and need to emphasize the risk to everyone. Retirement money is very important for retired people as they will rely on it for the rest of their lives. Have you thought about how your dad would live if that money disappeared? Can you afford to feed him?

Investing in Bitcoin with dad's retirement money isn't bad. At the end of any government service period, the government gives us some amount of pension during retirement. By using this pension money we can invest in different places and earn money. We can invest in Bitcoin. But for this you need your father's permission first. You explain Bitcoin to your father and tell him about the potential of Bitcoin. Sit down with all your family members and talk about investing in Bitcoin with your father retirement money and talk about the potential of Bitcoin. Then if your father is happy with it and comfortably allows it, you can invest in Bitcoin.

Yes, it's true that the step that should be taken is to discuss it first with his father as the owner of the pension.
Even someone who has retired certainly has a desire or purpose for what his retirement money will be. even though it was his father's money, but the full right to what the pension money is is his father's right and he must agree.
and one more thing, I hope the OP pays attention to how the regulation of Bitcoin in his place of residence is it considered legal or in fact it is even considered illegal and unlawful.
don't let his good intentions to invest in Bitcoin actually bring legal problems to his father and family.

15-20% is considerable but going beyond those numbers are already risky considering that we are talking about retirement money on here on which it should really be that sensibly well spent on things that should really be need to be prioritized first. We know that even how crypto space had flourished or succeed but still its not something that would really be giving out guarantees that it would really be successful in the future,
which means that if you do heavily invest or having that all in kind of approach then you are really that putting your money at huge risks. This is why risk management is really that crucial on these kind of times on which it is really just that right that you should really be that mindful about risk and dont be like a gambler when you are really approaching with investment, its not really that the same.

Explain it into your father and tell him about the basics and he might really be able to reconsider but if he chose or oppose such explanation then its better not to pursue and force him off.
Old geezers would really be tending to stick on to those traditional things.

First of if you would invest his money shouldn't you tell him about it first?
It is his retirement money so he should be aware of it even if you have access to his money.
Investing it in Bitcoin isn't bad thing but at least let your father know and decide about it.
This should be discussed and decided with your family not with strangers or forum members.

I do not advise you to do this. You risk taking on extremely dangerous obligations. You need to risk only the money, the loss of which will not affect your family's well-being in any way. Which will not affect in any way also your ability to eat as you are used to, to pay for an apartment. Or buy clothes that you used to buy.

I am not a saint and I will say that I took a loan to buy cryptocurrency and now I think that I took a big risk. Although I was lucky then. I bought a cheap bitcoin. It is better to try to save extra money and invest after three or four months. To do this, you can find additional work, as I did. I have 3 part-time jobs, including full-time work. And I'm happy because I don't need money.

the idea as a whole is not bad, but it is worth starting with one important point. First of all, your father must understand how bitcoin works, all its advantages and disadvantages, what the consequences can be when investing a large sum, and so on, it is important to transfer your knowledge to him so that you speak the same language with him. After that, it is possible to conduct an experiment and buy for a small amount so that the mechanism is fully understood, and then make a decision at the family council.

Firstly, is good you're looking out for your Dad as a good child but this is about him. Before retiring he has what he planned to do and you coming to introduce bitcoin to him might be too risky. A year that you're looking at may be a small time in holding the coin, you might need to hold for three to four years before you experience a great level of profit you would be proud of, there are many businesses he can invest in if you do proper research that can yield a profit level within a year and later from the business you can invest some percentage after realizing a profit.

Don't put your all dad's money in Bitcoin. bitcoin market now very appropriate for investment. So investment but not full amount of your dad's retirement money.

Of course, involving our parents in the decision-making process is very important when it comes to investing their retirement money in Bitcoin. Since it is his hard earned money, at least respect his ownership and involve him in the discussion as Bitcoin is known for its price volatility, and there is no guarantee of an immediate profit within a year. But the first step I think here is seen as important to prioritize open communication and ensure that both parties agree before proceeding with any investment decision.