Topic: Dad's retirement money is invested in Bitcoin! - page 8. (Read 1376 times)

Yes, there's nothing wrong using retirement funds for bitcoin but it's not yet clear if OP's dad is aware of what he's thinking.

If this is like a one-time thing for his dad then that's fine. But if he's planning to use everything that his dad got, that's not a good idea as his dad planned for their house.

Construction or amortization might be that much but his dad would probably be conservative in his own ways rather than taking risks.

Congratulations on his retirement. I don't know which country you are from but I thank him for his service.
Your dad should build the house with his retirement money. No matter how expensive you think the cost of building a house is right now, 12 months from now the cost will be double and you'd wish he built it now. That's his dream let him find fulfilment and satisfaction in reaching it.

Do not put invest the money in Bitcoin. Build the house. Or better still put it in an investment with very low volatility. The risk is too high. Of your pops looses his pension money he may go down with high blood pressure. Guess you wouldn't want that to happen.

You need to think about the fact that the father has lived his whole life striving for something and now he just wants to realize his dreams. Building materials will always only rise in price, you should not think that now is a bad time for construction, because everything has risen in price, it has always been like this and will always be like that. Therefore, if he wants to start construction and he has enough money for this, then let him do what will make him happy.

I would not advise you to manage your father's money, if he does not want to invest it anywhere, then this is his choice, you can tell him about such an opportunity, but he must make the decision himself and he must have an understanding of all the risks associated with this. If he just gives you half of his money and you end up losing it, then only you will be to blame.

Yes, it may be that in a year or two bitcoin will grow and the money invested will double or triple, but the investment decision must be conscious and it must be made by your father.

It would be a great idea to invest in Bitcoin but the question of how knowledgeable you are comes into play. Unless you have a broker or willing to get one, I wouldn't advice you venture into an investment you have little idea about.
DCAing would have been a good investment strategy as your money would be left to grow as the market yields.

The story from the OP, like I have seen in many other cases, knows an investment opportunity and calls for people to support capital so that they can invest with it with the aim of making profit.
But in fact, such investment trust cases often face many risks, and especially for those who have a lack of experience in the investment field. Honestly advise OP not to bet someone's fortune no matter how good your intentions are without being knowledgeable and sure about the future. Build your own plan to do it instead, if you're young find a job and save money and then look into investing.

It is very risky, but first, consult your father and act as a man, not a boy, because it is difficult to make decisions on your own. The problem with investing that huge money is the risk because we really don't know if after a few years the bitcoin price will go up or down. If you can afford it, then go ahead. But if I do have that money, I will put some in bitcoin, and others will start businesses and start saving to build the house that your father dreamed of, but again, it is always best to talk with your father.

Your choice is not wrong, but I also want you to realize that the money you are discussing is not your own, and the fact that you mentioned your dad's plans for the money indicates that he lacks many things that he wants to cover up with this money and wants to make up for them by building a house. I believe that having money without a decent place to live is still useless, and your dad only relies on these funds after he retires. However, what if you invested half of these funds?
 
However, if I understand you correctly, you don't want to tell your father what you're going to do with half of his money. If I may offer you some advice, even if you want to invest half of your dad's pension funds in bitcoin, you must do so with his approval so that he will be aware that he gave you permission to do so in the event that something problematic arises or perhaps the price falls.
 

While you will get some good input from here, people's opinions shouldn't be what makes up your actions. If you are considering to invest the money into Bitcoin, learn all about it and teach your father about it. Only if he is on board, then go ahead


I wouldn't say that you're doing something wrong by investing the retirement into Bitcoin, I would say you're doing something wrong if you are hoping for returns/more money by the end of the year. While the logic is fine to invest in it over a mid to long-term or for 24 months during the halving years, but 6-8 months is too little to expect returns. Anything can happen. Everyone is expecting the boom before the halving...It's not uncommon for something unexpected to happen when people expect something to happen in the market.

If you only have 6 months, maybe put 10-20% in rather than essentially gambling with all of it.


You've said two things in this post. Firstly, that you would put it into Bitcoin to keep it safe in the bank (this quote) and then to take gains before the end of the year (quote before this one).
If you meet the following rules:
- You can afford to help for 3-4 years (in the event that the halving does not bear the fruits that everyone is expecting, or an unexpected event happens that temporarily stunts BTC price growth)
- You can afford to ride out volatility (not panic selling or worrying about short term price movement)
- You do not use leverage (only using self-custodial storage options and not betting the bitcoin to multiply gains)
...you will probably come out much better off than being in a bank. If you do not follow these rules, you risk losing more than what inflation would cost you.


I commend your fathers service and I hope that you do the absolute right thing by him. Good luck!

That’s a good idea, but I would suggest you first to ask for your dad’s permission and will to do this. If he agrees with this, then definitely go with the investment. But at first you need to understand that whether it’s Bitcoins or any type of investment, the risk of getting losses is always there. So yes, if you are agreeing to take that risk, then yes investing the funds will be a wise decision. Moreover we have seen what are Bitcoins capable of, so yes lets see how much profits you make here.

For me, half of his retirement is too much. You said that it's his retirement money so that will be the only money he'll have. Once he retire, he won't have any source of money and he can only rely on his pension/retirement money (if he doesn't have any business) so it will be too risky. If your dad agrees to investing some of it in Bitcoin, it's fine but I don't think half of it is a good decision. You know, when you get old, you have to prepare a lot of money for your health so it might be hard to lose a lot of money on investments when you're old.

In your retirement age, you should be enjoying the money or profit you got from investment not the other way around where you'll use your retirement to invest. There are banks that are getting bankrupt but it doesn't mean all banks will also get bankrupt at the same time. So what I can suggest is, if your family is fine with investing, invest a small portion and the rest can be used for savings, enjoyment, or start a small business to maintain your resources.

It seems to me that your father, despite his retirement age, is not yet quite an old man, so you cannot decide for him where and how much to invest his money. Soldiers retire early. Why don't you, as a son, tell him about Bitcoin? I think he will quickly master it and be able to make his own decision with his money.
You, as an adult son, need to earn money yourself and not look at other people's money.

If it's a one month pension then that could be fine for his father but it's still best to ask him whether he's fine with it. There are veterans and old people that don't know what's with the technology and new investments and they might not be willing to learn about Bitcoin.

There are financial advisors that's not aware of Bitcoin and cryptocurrencies and that's why if OP is the one to explain investing in Bitcoin to his pops, that's much better. Because these financial advisors are most of the time salesman and they might suggest the investment products they're selling to him.

If you think depositing money in the bank is risky, investing in bitcoin is even riskier. Bitcoin is a volatile asset that can be highly profitable but can also cost you all you have. I know we are on the bitcoin forum, and bitcoin will take precedence. But I advise you to choose the most suitable option depending on your situation, not just looking at the profit but ignoring the risks you encounter. Moreover, it is money your father risked his life to get it, you should let him decide, not you.

This is funny but definitely a thing that OP should've considered or have done before going here for advice, different people have different experiences so the results may vary. To OP, if you do consider consulting a financial advisor, make sure that they're fiduciary or something along the line where you can trust them to put your best interest.

Before I can say anything, I will like to think as if I am in your shoes right now, I can't invest my father's retirement fund into something as risky as Bitcoin, unless he give me the go ahead, so I will have to let him know what's up with Bitcoin, the possibilities of having Bitcoin and holding for long tern and the risks too.

I will break down if anything happens to my father's retirement fund because we don't know what's waiting for Bitcoin in the future, if the amount is something I can refund him if anything bad happens then it's better. So I will like to ask you OP

As a good son you are, are you willing to pay your father back if anything bad happens to that money? A plan without the possibility of losses is not a plan, what are you going to do if anything goes really bad?

As your father is retiring after a long service in the army and he must be thinking of spending this retirement money on your family work. And if you invest your father's retirement money in Bitcoin, then you must be wrong because there is money risk involved. Taking such big ricks is very difficult if you can explain your father well about cryptocurrency. And tell him about market volatility if he agrees then you can invest.
First of all it is very risky to keep money in bank now because many banks are already bankrupt as we have seen. 'OP' if you tell your dad about all the negatives of Bitcoin. Later if your father gives you permission to invest in Bitcoin then you can do it. Of course you have to accept that market volatility will follow. And you must be aware by investing in Bitcoin because it has risks so you have to wait patiently for a long time. Of course, if you invest in a bear market then wait until a bull market in Bitcoin to become a successful trader.

Investing is a very risky business. Invest the amount you can afford to lose. If you can invest based on these principles, you will invest. I would never consider the decision you made as a bad decision, it was a very good decision. But definitely tell your dad about the risks of bitcoin investing, then the volatility of the bitcoin market. Then if he agrees to invest then you invest bitcoins. But remember one thing you need to have a safe wallet for your investment. So that your investment cannot be hacked in any way.

if you invest your father's retirement money in bitcoin then there will be the potential for losses or profits, but in my opinion if it is only invested until the end of the year it will certainly be very high risk because in my opinion investing in btc will be better for the long term.
but of course the decision is in your hands because you are the one who is going through it, think carefully and love your money because in my opinion the money that you will invest from your father's retirement is certainly not idle money.

In my opinion, if you want to use half of your father's alimony money to buy bitcoin, with the goal of end of the year earning you profit, I think if you're prepared for the risk, there's absolutely no harm in it. , but you have to tell your dad and also you have to tell the risks of investing in btc and if your dad approves of course you can buy btc. Hope your investment is successful.

It's a nice risk, but the timing is short. If your dad can wait for more years and won't need half of his money he could see more profits because the market could go bullish and the price is quote low considering the fall of bitcoin price. I don't know how huge the money is, but if the market hits 35k, your dad would be proud with the amount of money you'll hand over to him. However, it's a decision that will make or mar your father's money, on the other flip it's quite a nice decision compared to the amount of money building a house requires. If you convince your dad, to see the bitcoin investment as a building project and that his money is safe; that is, it won't disappear no matter what unless hacked. So, if along the line the market doesn't move up in your favor you can quit and withdraw the money back. Not a financial advice.