Topic: Do you still keep a fiat retirement account? - page 5. (Read 6218 times)

TAX & redemption payments will be in fiat, I hope 

Not about popularity dude. Its bitcoin can comes to us in future with big value So we can male big profit from If you start invest on it as much you can now. then That time bitcoin will be mostly using currency for the world.

How can you be that sure that bitcoin will survive that long? I mean anything is possible with bitcoin, either it reaches on mainstream or get replaced by some other currency, nothing is guaranteed in long run.

Thanks for the advice.

Do not put all your retirement money in gold or other precious metals.  You will not get anywhere the return you need from those to retire comfortably.  I assume your young, which means you have a ton of time to build your retirement which is your advantage.  Put as much as you can into mutual funds in your 401k that are designed to mirror the market.  You should get around 7 to 8% return a year, which means that every dollar you put in today, will double every 8 years.  Ill do some math to show the power of compounding interest.

Over the first 4 years of my career, I was able to save $32,000 into my retirement account, and I am currently 27.  That means I have roughly 5 doubling periods ((65-27)/8) (assuming a retirement age of 65) with that money.  If I add nothing else and just let that money sit in the stock market, I should have around 1,024,000 by the time I retire.

That shows the power of compounding interest, but the take away is put as much as you can as early as you can, and you'll thank yourself later.  By April, I plan to have 30% of my wife's and my income going into our 401k.  It would be 10 to 15% more, but her parents left her with over 90k in student loan debt we need to take care of first, but then you better believe we are ramping it up higher.  Plus, if you just start putting that in and learn to live without even thinking you have access to another couple hundred a month, it is very easy to do.

But all I'm having for my retirement is only bitcoin. Because I'm not ready to believe fiats and banking system for my retirement while I'm having the freedom ie bitcoin.

It's not a good idea to give up on fiat right now. Maybe if bitcoin would become more popular. But for the moment fiat is in the lead.

I am still keeping my money in fiat, I am paying my debts with it, and my bills, I don't see any danger with it yet.. though I am thinking to invest  my salary in bitcoin,  I am still thinking that it is easier to use fiat when buying physical goods,

  the era of fiat might end but I think not really this day or the coming years, it  could probably be not in this lifetime...

since it is easier to use fiat in our locality, I will be staying with fiat, I am just starting out my future so might still consider bitcoin as part of my savings when I am already working...

Everything I own is in, or from Fiat. There's nothing I can do right now because Bitcoin is still very much in its prime. Not enough people see it as money and this is the problem.

My savings account is in fiat, my insurance  is also in fiat, and I think in my lifetime, cash/fiat will not be doomed, it might take time before money in this world become electronic..

Spread the risk is the main point here. I would always keep part of my retirement funds in a fiat account. At the moment there is no choice anyway, unless you are self employed, you are building your retirement account and you can not withdraw it here.

Also, there are tax advantages related to this retirement fund. No tax is paid on the initial deposits and also no capital gains tax is required. You only pay tax at the moment the money is paid to you in the future.

Gold, bitcoin and a private fiat retirement savings account are all still subjected to taxation. Which hurts your coumpound interest efficiency.

of course i keep a fiat account.

there is this saying that goes "don't put all your eggs in one basket". i truly believe in that, so i have always tried to follow it. which means i invest in a couple of things.

so obviously i keep fiat account because we are still reliant on it, bitcoin, gold and a couple of other things just to stay safe and keep some valuable for a rainy day.

Every major account that I am keeping is in fiat. Bitcoin is amazing in what it is but I think it's a big risk to put all your eggs in one basket.

Yep. Same here. There are a lot of investments out there. As the saying goes, dont put all your eggs in one basket. I personally have plans to go for gold and real estate. Given this, I will still never go of Bitcoin. I still have a feel that this would profit big sooner or later.

Even I know more options for my retirement planning like gold, real estate or bank deposit and saving or stock market investments or insurance I strongly believe only with the bitcoin to secure my life after retirement.

I used to live in South Carolina, and I can go ahead and tell you that you don't want to move to Myrtle Beach.  Go look into Beaufort, SC or better yet (my personal favorite) Bald Head Island, NC ; it's literally a paradise out there, and the investment in land will probably sky rocket as time goes on.  Just thought I should go ahead and give you a heads up.  Myrtle Beach is now nothing but a bunch of "yankees" (lol) that have taken over the area and is just not enjoyable because of all the people.

Getting back on topic though, I'm just now becoming an "adult" and getting through an internship for an actual job.  I would like to have the option (and I'm really thinking about doing this my self) to put my retirement savings into gold and precious metals because of the stability of price/demand no matter the inflation rate of fiat.  Am I crazy for thinking this way?  Should I just stake up everything in a 41K?  I'm still unsure about everything, and I don't think it's necessarily smart to put your investments ALL in bitcoin and gold... but I would like to have somewhat a good chunk of my investment in there.

I own no retirement accounts, the only savings I have are bitcoin. sad.. 

Of course, I keep a fiat retirement account.
There is a chance (low probability IMO, but can't be ignored) that Bitcoin will go to zero.
You wouldn't want to be on the streets if that happens.

It is down to you what you can save and keep safe in precious metals, homes to hopefully become mortgage free and rely on nobody. I have savings but I would rather put into Bitcoin than put into retirement/pension that someone else controls and feeds from.

Marriage and kids my fucking ass.  When I'm done it's the end of my line and I am OK with that.  Going to leave whatever is left to a drug treatment center or an animal rescue, depending on my mood when I write my will.

Yes I have a retirement account that does not include bitcoin.  It's stocks and they happen to be denominated in dollars but you could price them just as easily in bitcoin.