Topic: Dad's retirement money is invested in Bitcoin! - page 7. (Read 1398 times)

Do you properly about bitcoin, not as even that someone is brainstorming you to invest in bitcoin when you have don't have the ideas of bitcoin, if you don't have the idea and because of somebody have told of bitcoin and it's the reason why you are planning to invest in bitcoin I will advice you not invest in bitcoin  because I know that you will not monitor it properly, but whereas you know bitcoin and the value you can invest in bitcoin knowing the implications, don't follow people advice and do what you don't know well

There is nothing wrong with your idea as long as your father knows what you are about to do with it because in the first place, that is his money and secondly, don't forget the fact that he worked hard for it for over 25 long years in service, so he deserves to know as that is his right. Now, if he gave you the chance to what is needed for that money to grow, you still need to tell him about it and help him understand about the risks of this investment.

Most of all, if those money are that important to you and to him, please don't invest it at any cost if you guys cannot afford to lose it.

My candid advice is that you don't invest half of your father's pension money in BTC, it is way too risky to do that so you don't end up giving the old man an heart attack. If it were your personal money, it would have been a good idea investing it, but please, don't gamble with other people money.

I think building a house is a wise decision and if materials are expensive then building a small house in which just life become possible to live is important. I think pension money will be enough for building a house as it is a saved sum of lots of years.

If you want to make investment in Bitcoin then there is no need to be put half of amount but just use 5 percent or 10 percent of amount because its enough to give you profit while remaining can be spend on building a house.

It's really hard for me to give advice on such an important matter. You should know that investing is risky. There is also the possibility that what you expect may not happen. Or the possibility of winning much more. Either way, you will be the winner or the loser. So instead of getting investment advice, you should learn about the market yourself. You have to make all your own decisions. That's my advice to you.

On the other hand, Bitcoin is not too familiar among parents, especially for those who have pension funds, of course they are more careful to invest their money for the long term and can provide profits, so that the results can be enjoyed during their lives for pleasure both for themselves and their families
Bitcoin is indeed a profitable investment, but it is very risky, moreover as Op said, expect more returns within a period of one year, Of course, it is not advisable to invest half the pension money from his father into Bitcoin

You must be aware of the risks that will be faced later.
We are here, not all of us will get the benefits even though most of us will definitely get it, but that does not mean that all of us can confidently get profits in bitcoin because of course it comes back to the risk itself.
On the other hand, in this case even if you understand bitcoin but your father doesn't necessarily understand that and this could be something new for him so in this case there needs to be clarity because regardless of anything at the moment even if it is your father who has a relationship blood but it's not your money.
In the end the decision is up to your family but indeed if in the end you are not too sure and your father feels as if he is forced I still don't feel the need to overdo it because this is also not a bet that will definitely be profitable with the nature of bitcoin which of course we know we don't have any certainty of any advantage in this respect.

For me, you should pay attention that investing retirement money solely in Bitcoin is risky due to its high volatility. It's important to diversify investments, consider long-term outlook, assess risk tolerance, and lastly seek professional advice before making any investment decisions, especially with retirement funds.

investing in bitcoin just like investing in anything has the same very important basic requirements which are: never invest money that you cannot afford to lose. With that in mind, what you need to ask yourself is the following: would you and your father be willing to accept losing all that money you want to invest in bitcoin? if your answer is that you and your dad are willing to accept the loss of any money you put into bitcoin then you are more than psychologically ready to invest in bitcoin. this is the first step, now the second step is not to create high expectations in the short term, with that I want to tell you that you need to think about doing hodl in the long term something like 2 years at least

for example if your goal is to want to get 2x profit then you need to think that you will have to hold for at least 2 years, expecting big profits this year can result in frustration and if you know you will need that money in a few months so it will not be a good move to put it in bitcoin, so maybe you can put only 10% of the money and with that you could already hold for years and you would have a 2x profit, it is a matter of looking at the long term and not the short term, and when you look at the long term you only put money that you can afford to lose and that you won't need and before you put money in bitcoin you have to explain everything to your father

Indeed. It has to be a conscious decision. The father has to be aware about every pros and cons of Bitcoin investment. He must understand the fact this market is heavily volatile, therefore the investment can oscillate upside and down for undetermined periods of time, until finally having profit. He has to understand BTC must be stored in self-custody wallets to let him (or his son) under total control of his own funds during all the length the investment is going on. He has to make sure he isn't going to need this retirement money soon for another expenses, because once the money is invested in BTC, he will have to wait patiently for the next bullish season.

yes, that is bad attitude and it will break the trust your Dad have for you by giving you his retirement money to hold and you use it by investing it in BTC  and if you Dad know that you want to invest such amount of money in BTC he will not allow you because they are used to fiat investment right from their childhood.
I don't think you will get more money from that investment because, BTC price is unpredictable which it can decide to decrease more at the moment you invest the money and it will make you feel bad and it will make your Dad to hate you. But if your Dad can allow the money to stay in your hand and you explain to him about BTC investment and he give you go ahead then make it 3 or 4 years before you can sell so that you will make a good profits that will make your Dad to like BTC investment.

You should discuss the potential risks and rewards of investing in Bitcoin, as well as explore alternatives like starting a business or saving for specific goals like building a dream home. Your father's financial situation and goals will focus on this, so it's important to evaluate all available options and make an informed decision together. So you have to involve your father in the discussion, which is really wise as it is his retirement and his input is very important in determining the best course of action.

Talk carefully with your father because parents have their way of thinking in managing a good household.
Maybe when a conversation occurs between father and you as a son in conveying plans to set aside a small portion of retirement money into Bitcoin investment, he accepts even though he has plans to build a house with this pension money.

Another possibility, at least by delivering with a clear explanation that you convey can be material for your father's consideration because investing will not be good if it is done in a forced way, especially since the money to be invested is father's pension money, not your money.

Your father has done a great job by serving the country as a military officer, and he's a great father because he's discussing this matter with you and gave you complete power to do with the money that's given to him by the government on his retirement. In this matter you should do proper research before coming up with a decision.

I would never recommend you to invest half of the money into Bitcoin because crypto market has different volatility levels and sometimes uncertain events take place that cause huge dumps for many months. If you are really into crypto than invest only 1/3 of the retirement money into Bitcoin, and you should not rush invest in it because there are chances that there will be another dump in the market in coming days.

You should also invest the other portion of it into something that could generate some money for you, and that investment should be into any digital item, but on something physical. I recommend you to invest 1/3 of the money into a commodity like Gold because if your economy is struggling because of inflation than in such times investing in such commodity can be very profitable.

You should save the remaining portion of the money for hard times because it's always preferable to have some cash in your possession for uncertain events of the life. If you have the money you can live your life without any fear as long as you have some cash in your wallet. I still recommend you to do proper research before coming up with a final decision.

As a son, I had a simpler option, namely using a pension fund to pay off some raw materials every month. But while allocating a few percent to the assets you want to invest. I have done this method and have built 2 houses within 5 years. What I do is not complicated because when there is indeed income every month from a pension fund, the step that crosses my mind is to always spend on basic building materials such as sand, stone, and brick which are long-lasting. Little by little, buying goods in installments is a lighter thing to implement than buying all the raw material needs at the same time.

Retirement can be said to be old age, where people live to enjoy the rest of their lives. I think that if you invest in bitcoin, of course living people still have needs, and of course investing for the long term, it is very profitable to invest in bitcoin, but there is no certainty when you will get a profit. What comes to my mind is when I hear price fluctuations and it suddenly crashes, does it not affect my health later. I agree let father make his choice so that he can enjoy the rest of his life, only health is his treasure

This is right time to invest. Price of bitcoin has reduced to half from ATH. You can double to money in 1 year. If you hold for 10 years or more, it can be 10x return also.

I know your intention is to want the best for your father. But can I ask you, how old is your father and wants to make more money than he wants, or he just wants to rest after spending his life in the military? For older generations, like our grandparents and parents, they have spent their whole lives working and earning money, and it's time for them to rest and enjoy life.
Bitcoin is a highly profitable investment that young people have always aspired to have, but retirees, I don't think they will be passionate about it. So let your dad decide what to do with his money, you shouldn't interfere. Regarding you, if you want to invest in bitcoin, make an effort with your own hands, we are young, and the opportunities are still a lot.

ask him about your Idea, if he is interested then educate him, and make him the one who do the decision when investing in Bitcoin so he wouldn't rely on you about investing in Bitcoin.

the problem with this is that you might also make your father lose money by investing in Bitcoin. the best action you can do is to inform him about your Idea and let him decide whether he is interested or not, and if he is, educate him.

It's not bad to allocate half of the pension money to Bitcoin as part of investment if the money will sit in a bank but this is only good if you are the owner of the money and not the influencer to come up with that decision since you will be blamed once the money decreases it's valued since your father wouldn't know this Bitcoin investment until you pointed it out to him.

If this is my personal choice. I will just let my father do what he wants on his pension without my intervention since he deserves that for all his hard work. I will just earn my own money and invest in Bitcoin. Bitcoin doesn't guarantee profit, especially in your case as the money is already allocated for constructing your house. You should leave that money in your father's care despite your intention being good because of the risk involved.