Dad's retirement money is invested in Bitcoin! - page 4.

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Quote from: Texac on June 03, 2023, 10:13:15 AM

Quote from: Gallar on June 03, 2023, 08:36:19 AM

Quote from: Fuso.hp on May 31, 2023, 12:15:03 PM

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.

Investing your father's retirement money in bitcoin is indeed a very good decision. Especially in the current year, I think it will be very profitable, because if you buy bitcoin in the current year, the profit is likely to be bigger and a little faster. Because bitcoin will soon experience a halving, which is predicted early or late next year. So if you start investing in bitcoin in the current year it is indeed very appropriate. But still, you have to consult carefully with your parents, especially your father. So don't force your opinion on your father, even though investing in bitcoin has great potential. So in conclusion, suggest this bitcoin investment to your father, explain in detail, because most parents tend to have difficulty understanding digital things such as crypto/bitcoin assets. If, for example, your father already understands and agrees with investing in bitcoin, then you can start right away. But if your father doesn't agree, it's better not to force it.

Why do you think investing in bitcoin with a retirement fund is good? meanwhile, we don't know if that money is important and is an amount that cannot be lost to their family. if their entire family relies on that retirement money alone, it's a bad idea to use it to invest in bitcoin. One more thing, we don't have any proof to prove that bitcoin will definitely increase and make us profit. it's all just predictions based on the past, nothing more, nothing less.

In this case I think more than 20 percent should not invest. Because people well aware about Bitcoin but they cannot hold it various reasons. There is nothing to do if the wallet is hacked or something else. Moreover, retirement money of a person in one sense is considered the last earning money of any person by which he will survive till death. If that money is invested and lost then no one will suffer like him. When a young man loses money he can recover it by hard work but a retirement person cannot recover it if he loses his money. In this case I think he can invest some money in Bitcoin which he won't have any big problem if he loses.

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Quote from: Fuso.hp on May 31, 2023, 12:15:03 PM

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.

Let's see if your father is retired and has some wealth in his late age which he can spend carelessly later in life. You will invest your father's reinvestment money carefully so that your father does not face difficulties in his livelihood later on.
Since your father is old, paper money is worth more than bitcoin in his old age. Not to mention whether your father's retirement money should be invested in your Bitcoin in this situation. You should secure your father's future and then invest.

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Quote from: Fuso.hp on May 31, 2023, 12:15:03 PM

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's sweet of you that you want to managed all the money for your dad. Not building a house right now seems like a good idea, in my country as well the building materials are so expensive that it's better to wait. We had 1.5 years of high inflation where every construction company increases prices by at least 30%, it could be the peak right now as prices are expected to slowly fall again. On top of that are we seeing a big increase in financing cost which is going to make any real estate deal more expensive down the road. Your fathers retirement allowance is a monthly payout or a big one time lump sum? If it's monthly payouts and he doesn't need all the money now, then it definitely makes sense to invest that money. Going into bitcoin is a good investment and if you manage everything for him that it shouldn't be any security concern. In case his retirement money is big one time payment that I would advice to split his money into smaller parts. Investing 50% into bitcoins also involves some risks and in case your dad needs the money short term it could be a problem. Being forced into selling at unfavourable prices can lead to big losses.

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Quote from: Gallar on June 03, 2023, 08:36:19 AM

Quote from: Fuso.hp on May 31, 2023, 12:15:03 PM

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.

Investing your father's retirement money in bitcoin is indeed a very good decision. Especially in the current year, I think it will be very profitable, because if you buy bitcoin in the current year, the profit is likely to be bigger and a little faster. Because bitcoin will soon experience a halving, which is predicted early or late next year. So if you start investing in bitcoin in the current year it is indeed very appropriate. But still, you have to consult carefully with your parents, especially your father. So don't force your opinion on your father, even though investing in bitcoin has great potential. So in conclusion, suggest this bitcoin investment to your father, explain in detail, because most parents tend to have difficulty understanding digital things such as crypto/bitcoin assets. If, for example, your father already understands and agrees with investing in bitcoin, then you can start right away. But if your father doesn't agree, it's better not to force it.

Why do you think investing in bitcoin with a retirement fund is good? meanwhile, we don't know if that money is important and is an amount that cannot be lost to their family. if their entire family relies on that retirement money alone, it's a bad idea to use it to invest in bitcoin. One more thing, we don't have any proof to prove that bitcoin will definitely increase and make us profit. it's all just predictions based on the past, nothing more, nothing less.

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Quote from: Fuso.hp on May 31, 2023, 12:15:03 PM

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.

Investing your father's retirement money in bitcoin is indeed a very good decision. Especially in the current year, I think it will be very profitable, because if you buy bitcoin in the current year, the profit is likely to be bigger and a little faster. Because bitcoin will soon experience a halving, which is predicted early or late next year. So if you start investing in bitcoin in the current year it is indeed very appropriate. But still, you have to consult carefully with your parents, especially your father. So don't force your opinion on your father, even though investing in bitcoin has great potential. So in conclusion, suggest this bitcoin investment to your father, explain in detail, because most parents tend to have difficulty understanding digital things such as crypto/bitcoin assets. If, for example, your father already understands and agrees with investing in bitcoin, then you can start right away. But if your father doesn't agree, it's better not to force it.

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To be honest, I would not advise you to go ahead with this idea of wanting your dad to invest 50% of his pension in bitcoin because Bitcoin is a volatile asset and the price can go either ways, it can appreciate making good profit or depreciate yielding a loss. Bitcoin investment is not a ponzi or get rich quick scheme, it takes time and requires patience. In the days of the stormy weather like the bear market, will your dad be able to handle it?

...And come on mate! 50% is a whole lot of money! Like you pointed out, your dad hasn't erected a house yet and I want to believe your siblings are still in school... Will the remaining 50% be enough to take care of the family needs like feed the family, sponsor your siblings through school, cater for their health bills etc... until the investment yields a meaningful profit? I guess not.... And there's no guarantee that Bitcoin would double its market price before the year ends. In case you still want to proceed with this idea, do well to educate your dad about the financial risks involve in bitcoin/crypto investment and I still think investing half of his pension is a bad idea.

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Quote from: xSkylarx on June 02, 2023, 11:33:04 AM

Quote from: posi on June 02, 2023, 12:36:08 AM

snip~

What is also I've noticed in today's generation is that they will decide immedialty without any calculation ,like if they saw someone who profited on it they will then say they can do it like immedialty they decide, also there are others that too eager to do it but when it is already ongoing they will quit as they haven't expected that they are losing. I hope OP listen to replies in this thread as there are chance that his father would agree on him , but again it is better to both of OP and his father talk to it and make calculated risk about the investment.

From what OP said, I can see his eagerness to get invested in bitcoin. I worry that he won't be honest with his dad, he will only talk about the benefits bitcoin can bring and ignore the risks they will take.
OP, I strongly recommend that you have a serious talk with your dad, you should talk about the risks of investing in bitcoin with him. If possible, you should emphasize risk over return. After all, it's not your money, and you don't have the power to make the final decision.

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Quote from: milewilda on June 01, 2023, 03:55:49 PM

Quote from: sunsilk on June 01, 2023, 02:44:38 PM

We know that the chance is bigger than any other crypto because it is Bitcoin. But it's not like that that we want people to push limits and get into this type of decisions even it's not their money.

It could be an inheritance that OP is thinking of or he just plainly wants to help his dad get some profit because he has seen how it goes and how it's like to be on this market.

If he approves then that's much better and that's a good thing to hear from him.

Depends on a certain condition because we know that we do have different kind of father-and-son kind of relationship on which there are ones who are really like just buddies and there are ones who are really that scared because of that being strict when it comes to certain things on which making up some open discussion on various things is really that impossible. If OP is really on a condition on which he could be able to speak up with his dad without having no problems or being scared then its not really that bad to try on explaining these things to his dad about Bitcoin investment. The important thing on here is that on whatever things
that his Dad would be saying then he should respect it out and dont make some argumentations about this manner because we know that dads having their own choices in life and decisions which we childrens
shouldnt really be involving into that but its good if he would be making up some reconsiderations.

I know that there are strong bonds that we can see from being a father and a son/daughter. But I have also seen countless times that if money is involved, a lot of things changes just because of it.

There's still no answer from OP whether the permission is there or none but it's the point that many were talking about that he should have. Well, much better to just follow his dad's dream of having his own retirement house for the peace of mind.

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Quote from: Lorence.xD on June 02, 2023, 06:28:10 PM

Since the OP mentioned that he will invest half of his dad's pension is actually a good idea to 50/50 it. Just make sure that the money you will risk is a money that you actually afford to lose since there's always a risk involved when it comes to investing in Bitcoin. While you guys are figuring out how to counter inflation due to expensive materials then crypto is the answer, just do more research and knowledge. Take your dad's consent since it's the money we're talking about it might conflict your relationship. But having an investment after a long serving in the military is the best.

However, his father has a dream, which is to own a house. 50% is too large of a number to risk for a family who hasn't fully understood the risks and consequences of investing in BTC . A large amount with uncertainty will make people worry about their money.

The best suggestion would be as follows: allocate 80% to fulfill his father's dream of buying a house. 15% for investments in Bitcoin and stocks, and the remaining 5% can be used as an emergency fund. OP's father will be happier when his dream is fulfilled and he feels that his life's purpose has been accomplished. This way, the hope for greed also decreases, allowing for more freedom in Bitcoin investments with a small percentage.

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Quote from: Fuso.hp on May 31, 2023, 12:15:03 PM

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's not a bad idea to invest in Bitcoin but you should keep one thing in mind that invest all those money in Bitcoin which you can lose, As because due to volatility may be some how price dumped in future and you have to wait until his rise, so don't expect that exactly after one year there will be a bunch of money in your hand as these is no confirmed time or moment where you can predict Bitcoin next move. But if you are really passionate and can hold Bitcoin for long time then it will be a good choice rather than building house...
At last congratulations to your father as he has done a successful 25 year services for military

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Firstly it is your Father's choice where he invests his money, not yours. Secondly if he invests in bitcoin now then he has to be willing to ride extreme volatility. Bitcoin is a great investment, there are very few similar opportunities these days. Personally I wouldn’t want the pressure of being responsibly for another man’s investments. You are doing the right thing by helping him but you will have pressure when we are in a bear market. Luckily now is a really good time to buy so if you hurry up, he probably won’t see the price dip too far below his entry price, if at all.

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Quote from: petulino on June 02, 2023, 10:28:58 PM

Quote from: Fuso.hp on May 31, 2023, 12:15:03 PM

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.

You are absolutely right that it has become very difficult to build a house in the current inflation. If a house is built with the pension money, financial problems will increase further in the future. I have seen many people who have built houses with pension money, and then they keep looking for jobs elsewhere.

Starting a business with pension money would be a great decision. If you want to invest in Bitcoin then Bitcoin investment is also a good strategy from which you can earn good profit, but before investment in this market you need complete information and study. This market is very volatile and may go against your expectations. If you can hold Bitcoin and be patient if the price falls down, and if you can control your emotions, then definitely invest in Bitcoin.

If you think building a house with retirement money is riskier than a business or an investment. What do you have to guarantee that the pension will not be lost when you invest in bitcoin or business? Whereas if you use it to build a house, you still have an asset over time, giving you a place to live without having to sleep on the street if your business fails. Moreover, have you always thought that investing in bitcoin is good? So what have you gained from investing in bitcoin? Bitcoin investment is risky, and we should only use the money that can be lost, do not invest it blindly.

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Quote from: Fuso.hp on May 31, 2023, 12:15:03 PM

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.

You are absolutely right that it has become very difficult to build a house in the current inflation. If a house is built with the pension money, financial problems will increase further in the future. I have seen many people who have built houses with pension money, and then they keep looking for jobs elsewhere.

Starting a business with pension money would be a great decision. If you want to invest in Bitcoin then Bitcoin investment is also a good strategy from which you can earn good profit, but before investment in this market you need complete information and study. This market is very volatile and may go against your expectations. If you can hold Bitcoin and be patient if the price falls down, and if you can control your emotions, then definitely invest in Bitcoin.

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Quote from: Botnake on June 02, 2023, 04:14:03 PM

Quote from: crunck on June 01, 2023, 07:19:54 PM

It's sad for young people who always want to invest in bitcoin but always want to use their parents' or other people's money to invest without trying for themselves. You don't have to teach your dad what to do with his money, he's the one who gave birth to you, and can raise you, so he knows what he needs to do. Investing in bitcoin is an extremely risky investment, and do you think older people can withstand that pressure?

They want to take risk but not with their own money and belongings, and worst is they will risk those funds who were owned by seniors who are not even capable to manage their emotions especially when it comes to losing their hard-earned retirement funds. Though we all know bitcoin investment has its own way to make us future millionaires, but know that it’s not gonna happen instantly. You need to lose first some significant amount before you can reap what you have been working hard for.

I guess this is just OP's own idea, and his dad doesn't know this yet. My advice is that OP should seriously talk to his dad and let him decide because that's the money he worked so hard to get. The idea of investing in bitcoin is good, but we need to consider the amount to invest. If we can't lose that money and it's important money for life, then investing in bitcoin will no longer be called good. Bitcoin brings high returns, but the risks are also very high, we should not only look at the good side but ignore its negative side because anything can happen.

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Quote from: serjent05 on June 02, 2023, 06:07:52 PM

Quote from: darkangel11 on June 02, 2023, 03:25:32 PM

IMO it's a great idea. People who don't take any risks in life don't gain anything. Maybe you'll regret it, there's a small chance bitcoin will not succeed, but would you want to miss the opportunity and later regret not spending your allowance on bitcoin? If iI knew I could make a million by investing 1k in bitcoin early on, or lose that 1k, I'd take that chance without thinking too much and I believe most of us would.

It is a great idea if @OP has the permission of his Dad, it is his Dad's money and not his. Using it as an investment without the knowledge of his father is like not giving respect to his father. Life is not only about getting a profit, people are also bound by moral obligation thus, @OP must ask permission from his father before using the money to invest in Bitcoin. As far as I know, the money has been allocated to other things and @OP's father had entrusted to money to @OP to do the plan of building a house.

If what you say is true, then OP is to blame, he is looking to invest in bitcoin with other people's money and even without his father's permission.
I don't think it's a great idea, retirement money is like saving, and for those who retire without income, investing in bitcoin is not a good idea. What if the investment is at risk? How will his father live without a job and rely solely on that money to make ends meet?

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Since the OP mentioned that he will invest half of his dad's pension is actually a good idea to 50/50 it. Just make sure that the money you will risk is a money that you actually afford to lose since there's always a risk involved when it comes to investing in Bitcoin. While you guys are figuring out how to counter inflation due to expensive materials then crypto is the answer, just do more research and knowledge. Take your dad's consent since it's the money we're talking about it might conflict your relationship. But having an investment after a long serving in the military is the best.

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Quote from: darkangel11 on June 02, 2023, 03:25:32 PM

IMO it's a great idea. People who don't take any risks in life don't gain anything. Maybe you'll regret it, there's a small chance bitcoin will not succeed, but would you want to miss the opportunity and later regret not spending your allowance on bitcoin? If iI knew I could make a million by investing 1k in bitcoin early on, or lose that 1k, I'd take that chance without thinking too much and I believe most of us would.

If it's OP's money, then what you say is true, but this isn't OP's money, it's his dad's money. And his dad is retired, and you think investing and holding property for many years is right for them? While what they need is to rest and enjoy life rather than need to earn more money. If it were OP's money, I would support him doing it too. By the way, OP should make his own money to invest in bitcoin, don't advise your dad to invest in bitcoin just for your benefit. He's worked hard all his life, and now it's time for you to pay tribute, you give him money to retire. It's not about continuing to use the money of a retired old person.

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Quote from: darkangel11 on June 02, 2023, 03:25:32 PM

IMO it's a great idea. People who don't take any risks in life don't gain anything. Maybe you'll regret it, there's a small chance bitcoin will not succeed, but would you want to miss the opportunity and later regret not spending your allowance on bitcoin? If iI knew I could make a million by investing 1k in bitcoin early on, or lose that 1k, I'd take that chance without thinking too much and I believe most of us would.

It is a great idea if @OP has the permission of his Dad, it is his Dad's money and not his. Using it as an investment without the knowledge of his father is like not giving respect to his father. Life is not only about getting a profit, people are also bound by moral obligation thus, @OP must ask permission from his father before using the money to invest in Bitcoin. As far as I know, the money has been allocated to other things and @OP's father had entrusted to money to @OP to do the plan of building a house.

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Quote from: Botnake on June 02, 2023, 04:14:03 PM

Quote from: crunck on June 01, 2023, 07:19:54 PM

It's sad for young people who always want to invest in bitcoin but always want to use their parents' or other people's money to invest without trying for themselves. You don't have to teach your dad what to do with his money, he's the one who gave birth to you, and can raise you, so he knows what he needs to do. Investing in bitcoin is an extremely risky investment, and do you think older people can withstand that pressure?

They want to take risk but not with their own money and belongings, and worst is they will risk those funds who were owned by seniors who are not even capable to manage their emotions especially when it comes to losing their hard-earned retirement funds. Though we all know bitcoin investment has its own way to make us future millionaires, but know that it’s not gonna happen instantly. You need to lose first some significant amount before you can reap what you have been working hard for.

We know that these seniors are really that somewhat impulsive when it comes to this money making opportunity considering that they dont have any work for them to have income on which they would really be mostly be thinking up on possible ways to continue or trying to make use of their money to earn more despite on getting retired on which its likely they would really be diving in if there are some recommendations about investment.Sad thing is that even with those scammy ones they are really that still diving in due to lack of knowledge.In the case that we are seeing on OP about telling it into his father about investing into Bitcoin, we cant say its really that good or something recommendable but we can really tell that it is really one of the best choice to make if we do talk about long term
but its better that he would letting his father would really be making the decision whether they would be putting some in bitcoin but most likely his father would really be buying up something
that he do really wants to buy for a long time and that would neither be a house or a car or something like this.

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Investing half of the retirement fund in bitcoin is a great idea, but I feel that it shouldn't be a decision you make alone, get your father involved and see what he thinks, since the money belongs to your father, make sure he is in agreement with your decision to invest part of the money in bitcoin.
This is because bitcoin is very unstable in price, and there is no guarantee anywhere that by one year, you should already have a profit on your bitcoin investment, so just get your father involved in the decision making, so that if by the end of the year, your investment have yielded any or much profit, you both can decide whether to leave the investment running for longer or cash it out as it is.

Topic: Dad's retirement money is invested in Bitcoin! - page 4. (Read 1375 times)