Topic: Dad's retirement money is invested in Bitcoin! - page 6. (Read 1375 times)

You think it's fine but I will stand by my opinion that OP should ask first, you said it already, it's OP's father's money so I don't think OP has any right to spend it without permissions.
Those financial advisors that aren't aware of bitcoin and cryptocurrencies are bad financial advisors, I don't think they're a profession that lives under a rock most of the time.

Indeed, not only for OP's father, but I think health is the most important thing that retirees or old people. Money is important but not everything at that age anymore. We all have parents, and I also believe that not too many people guide or give them bitcoin investment advice. Because they really don't fit it. Have we ever thought about what they would be like if they saw the volatility of bitcoin? We should be more concerned with their health than thinking about how they can earn extra money in retirement. At each stage and age, we will have different needs.

According to the OP, he wants to use 1/2 of his father's retirement money to invest in bitcoin. In my opinion, it's quite risky, and I really disagree, we should just introduce his dad to bitcoin and use only a small part to discover bitcoin first, as you said. Moreover, it's his retirement money, OP shouldn't interfere too much, let him do whatever he wants because older have dreams unlike young people like us.

My parents also have some savings and are putting them in the bank, but I never advised them to interfere in their decisions. I believe they are aware enough of what they are doing, and I respect their decision.

Providing a small reference from a child's perspective is not a grave error. We all know that eras are constantly transitioning, wherein the thoughts of parents may not necessarily match the extent of insights possessed by the younger generation. This is because time keeps progressing, and indeed, such transitions occur.

Indeed, investing in Bitcoin carries significant risks for the assets being invested. To address this, the father could allocate a small percentage to explore Bitcoin and learn about it. It would be prudent to give Bitcoin a trial run before determining whether it aligns with one's risk profile or not.

However, for the majority of his assets, I still recommend prioritizing his initial goal, which is to own a home no matter the means. It is his dream.

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?

To add some additional guidelines, always make sure to keep yourself updated from the market price of BTC. While making it as a retirement plan is indeed a good move, this is still not a guaranteed ticket to success. This means that you have now the responsibility of diligently doing research to maximize the investments.

As a rule of thumb, you can recover your initial investment once the price explodes in the market and re-invest the remaining. You should also always try to take advantage of its volatility to make the most out your investment.

They are blinded with some information that they can earn huge profit with investing on it, but they failed to realize that its so risky to do this knowing that bitcoin is so volatile and we may go up or worst down without us knowing so if market badly goes down for sure hus father might lose huge part of his money since for sure he will get affected on situation and might decide to dump for damage control.

Its really good to invest on bitcoin but this is good only for spare amount of money and not came from loan, retirement or even your last money on hand.

People always feel confident or have no control when they see the many benefits that others get in investing. So they kind of lost their best minds and used huge funds. They don't think there's a big risk that could happen. Actually, investing does not require large costs. Start small, make it big. New people sometimes lack patience and act carelessly. But if they feel confident in their abilities, then starting an investment with large funds and good management is a little better.

No, it's not a good idea.  You have no basis for your "advice" here.  For anyone to be able to give proper financial advice to someone, one must first understand that persons FULL financial situation before ever starting in on giving advice.  Bitcoin is a highly volatile asset and is likely not even close to being a good idea to put half of his pension in to it.

What most of you fail to understand or realize, a PENSION is something that is rare these days, and typically something that pays out a lifetime benefit.  Blowing up a pension can often be an incredibly bad idea.

All of you giving advice should just stop.  You're not licensed to do so and most of you sound really stupid.

I wouldn't be surprised if a father gave all his life's work for the one child he loves in this world. Because a father's job is to ensure that his child can live comfortably after giving everything he has. And in terms of investment it is highly recommended to use savings which are capital reserves that are not used elsewhere in life because it certainly does not affect a person's life if they experience loss.

After all, as long as a person does not sell his investment loss, of course he has not experienced a loss even though the value of the asset he invested has decreased because basically an investor still has time to wait for the price increase to occur again for his asset. So actually it is not a question for you because such a thing is something that a person should do based on his own decision.

Honestly,  I have mixed feelings on this issue and how the retirement funds are being used and I don't like it because  it sounds a bit selfish too me...no offense OP !

Let's not forget that this package that comes needs to take care of Dad and the family as he will nolonger be part of the workforce in the coming years and this will need to go a long way!!

As this stands, when you commit to invest in cryprocurrencies,  you are saying you are in it for the long run, and crypto will not grow in one direction like a tree following light, no...sometimes, it will be red, sometimes green and other times range around and if you are in a hurry to see your portfolio grow this might give you headaches which is why am saying you need to be ready for the long journey to success as its not a rosy one! Bitcoin investments should be treated like money you can afford to lose without having to feel the pinch,  but if this is the only money sitting around  better not make a huge investment!

Investing is actually a good idea since it’s enable you to grow your money and make more profits. But if you invest half of his pension funds, I don’t see it’s reasonable enough. You can actually invest but only with a minimal amount as losing from this type of investment is still inevitable particularly for beginners. But still whatever decision you have come up to, your father should agree with it because that’s his hard-earned money in the first place.

First, it is not your money so you need the consent of your father.  If your father agrees then by all means use it on Bitcoin investment and if he refused then you can't do anything.  So it is up to your convincing capability whether your father will let you put his money on Bitcoin or not.  If we go by the line, invest what you can afford to lose, the fund is not yours so obviously you cannot afford to lose their money.



I think not see his line:

The son will be authorized to claim the retirement benefits but the father isn't really giving it to his son due to the fact that the son will be giving back the money.  The money has been allocated to something but the son thinks it is unwise to follow the plan.  But I'll say it is unwise to use our fathers money without their approval.

That’s a bad decision dude. Bitcoin investment is so risky so you don’t have to invest on an amount you can’t afford to lose. Although investing is more profitable than letting the money sleep on the bank but only invest a small amount first so that if you lose, your father will not be struggling in the future. Besides, your father might not overcome the stress and depression once his money will be gone all of a sudden.

You're probably right, it's the only way it makes sense. Otherwise (depending on jurisdiction) he would unlikely be able to cash out his entire pension fund.
So if the gratuity is a lump payment payable on top of the regular monthly pension payments, then this changes the situation a lot. As it would likely be an amount OP's dad could afford to lose (not necessarily willing to), his risk appetite could be higher and trying his luck investing in higher-risk and higher-yield assets could not be a bad idea.

I think OP is trying to talk about his dads gratuity money which would be given to him after his final day of service. Investment is not  a bad idea though and building a house is never a bad one too. As it seems that is a huge bulk of money coming your way it would be wise to channeling it into an investment that would generate profit in the long run or bit by bit as time passes by. I would advise you diversify when investing. You can invest in bitcoin but you should know how volatile and risky it is and if investing should be a long term investment so as to take time yield profit for you but you should not put all the funds at a particular spot remember that it is not wise to put all your egg in one basket. Wisdom demands that you use the  funds wisely while investing so as not to go through ant financial hardship.

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.

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.

I am not much of experienced  but I have Heard that always invest which you can afford to loose.
So that's your decision but I still don't know why dad gave you all of his life work?
 

I still remember how well the rule of not investing everything in one place works. It's wise to put only half of the money into Bitcoin and the other half into something else. But in Bitcoin investment, you are not so sure when the right month, year, or timing will be before your investment is able to earn you a heavy profit. So I would advise that your dad fully understand that the anticipated time to harvest the investment may not really be the correct timing because there might not be any good profit by then due to a bear market. But I can say that the step you are taking is good.

But I still have one thought in my head, which is that inflation will not stop with the way the economy is really going and the amount of printed cash in circulation. Money is of little value these days as its purchasing powers keep decreasing day after day. So what I am thinking right now is that, if your dad is not going to also start building the house now, before you guys might have saved up enough money to build the house or before Bitcoin will give you enough profit, inflation might have also gone worse. I don't know what to advise right now, but all I can say is that even if you invest in Bitcoin, you can use the other half to make some preparations to build the house, and the first step towards building a house is to buy land, buy sand, and mold some blocks or bricks.