Topic: Do you still keep a fiat retirement account? - page 6. (Read 6218 times)
yeah i have it, well i think it provides a little bit of safeness
Everyone does. Everyone should. I don't know anyone who wouldn't as it is an old classic way to keep up for retirement. While we're discussing retirement, how much do you feel you'll need to retire comfortably?
Yes.. diversity is key.
I have the government issued retirement account, which is mandatory for everyone. Since populations is declining, we wont have enough young people to support the elderly in the future, so most likely everyone's their future in their own hands. If people fail to think about the future, then it's to the meat grinder for them. In my opinion the sooner you start thinking about your future, the sooner you'll achieve what you're looking for.
All in all I don't really believe in government issued retirement accounts, most likely will cash that out as soon as that's available and invest it into something I believe in. By that I guess bitcoin is my retirement fund.
All in all I don't really believe in government issued retirement accounts, most likely will cash that out as soon as that's available and invest it into something I believe in. By that I guess bitcoin is my retirement fund.
absolutely, it is very important to have a retirement account.
yes but you can have it in bitcoin that has a high chance of an appreciation in value, were fiat will only get less value in the future, this si a fact
That's why you should leave thr money in your retirement account in cash/fiat. You should convert it from fiat into ownership in stocks, companies that will appreciate over time.
i dont own a retirement account lol, thats like hiding money for future use, why not just invest it so your money earns you money.
Investing money so it earns more money is EXACTLY what a retirement account is! Plus, you usually get to avoid paying taxes on it if you put it in a retirement account.
absolutely, it is very important to have a retirement account.
yes but you can have it in bitcoin that has a high chance of an appreciation in value, were fiat will only get less value in the future, this si a fact
absolutely, it is very important to have a retirement account.
Well, I have not done it yet. But this idea is brilliant, to keep some Bitcoin for next >30 years.
Thx for the idea, I think I will set aside some of my Bitcoin for long-term savings.
Thx for the idea, I think I will set aside some of my Bitcoin for long-term savings.
I look forward to the day when stocks and other equities can be purchased and held in bitcoin (on a larger than experimental scale). Actually I did convert my Roth IRA to Bitcoin Investment Trust earlier this year, but it's a minor holding compared to my non-Roth IRAs. As mentioned above, diversification is critical to retirement planning. To put your money in one investment, no matter how much you believe in it, is likely to lead to disaster at some point. Better to accept modest returns than adopt a strategy that is 1% likely to lead to great riches and 99% likely (over a lifetime) to crater.
Of course I do. At this point I don't want my retirement money to be in anything other than fiat currency. I don't want my future money to go through huge peaks and then being dumped to the ground again. That money is something I don't mess with.
I hold Bitcoin in my cold wallets for years and will keep it and not sell it for another 10-20 or even more years. That can also be considered some sort of a retirement account. It's a win win for me.
I hold Bitcoin in my cold wallets for years and will keep it and not sell it for another 10-20 or even more years. That can also be considered some sort of a retirement account. It's a win win for me.
you all seems to need like money and that is into one or more digital acounts and can be fiat all right
I believe in Bitcoin and all but anyway, my retirement fund will stay where it is. Sure is smart to have savings fund for retirement, but in my savings fund Bitcoin will be only one of few assets. Noone can predict future so diversifying is best thing to do in my opinion.
That is the great point. We must need to diversify our investment to minimize the risk. Even I have full faith on bitcoin, I will go for a fiat retirement account too. This is because what if the wrong that I'm having two or more retirement accounts.
Yeah diversification is the best thing to do, we have faith in bitcoins but future is unpredictable and nothing is guaranteed we don't know where would bitcoins would be standing after 15 or 20 years So have fiat retirement account would be safe and the same thing everyone would be doing, nobody wants to take a risk at the retirement age.
Nope.
Somebody paying fiat into a retirement plan promising to pay back in 30 years is absolutely delusional.
In case that fiat currency (be it Euro or Dollar or whatever) still exists in 30 years inflation and bank fees will have eaten all its buying power.
Of course it makes sense to diversify. Gold and silver, land, a mortgage-free house, a business of your own or even investing in aquiring more capabilities (learning how to make chairs or grow food or even learning foreign languages) are much better investments than a retirement plan in fiat and they will compliment your Bitcoin savings wallet in the times to come.
If you have the bitcoins now to pay for these kind of things then you should!
Joe
Somebody paying fiat into a retirement plan promising to pay back in 30 years is absolutely delusional.
In case that fiat currency (be it Euro or Dollar or whatever) still exists in 30 years inflation and bank fees will have eaten all its buying power.
Of course it makes sense to diversify. Gold and silver, land, a mortgage-free house, a business of your own or even investing in aquiring more capabilities (learning how to make chairs or grow food or even learning foreign languages) are much better investments than a retirement plan in fiat and they will compliment your Bitcoin savings wallet in the times to come.
If you have the bitcoins now to pay for these kind of things then you should!
Joe
I believe in Bitcoin and all but anyway, my retirement fund will stay where it is. Sure is smart to have savings fund for retirement, but in my savings fund Bitcoin will be only one of few assets. Noone can predict future so diversifying is best thing to do in my opinion.
That is the great point. We must need to diversify our investment to minimize the risk. Even I have full faith on bitcoin, I will go for a fiat retirement account too. This is because what if the wrong that I'm having two or more retirement accounts.
I believe in Bitcoin and all but anyway, my retirement fund will stay where it is. Sure is smart to have savings fund for retirement, but in my savings fund Bitcoin will be only one of few assets. Noone can predict future so diversifying is best thing to do in my opinion.
If you are a true believer that be dollar and other fiats are doomed should you then cash out your fiat retirement account for btc, metals or real estate?
I have a Roth IRA with some money in it and I am debating on if I should liquidate that or keep contributing to it for the next 30 years.
I have a Roth IRA with some money in it and I am debating on if I should liquidate that or keep contributing to it for the next 30 years.
That would be foolish. Bitcoin is way too volatile for a retirement account. It's a great speculative investment, but it makes a lousy investment for a retirement account.
legendary
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Bitcoin is not a sure thing.
(If it was, it would be much much higher priced.)
The reward you get by investing now is by
assuming that risk.
Bitcoin could still face problems in the future
or fail to appreciate.
Therefore, its unwise to put your entire investment
portfolio into bitcoin even if you strongly believe
in its potential, unless you are aware of all the
risks and are willing to take it.
(If it was, it would be much much higher priced.)
The reward you get by investing now is by
assuming that risk.
Bitcoin could still face problems in the future
or fail to appreciate.
Therefore, its unwise to put your entire investment
portfolio into bitcoin even if you strongly believe
in its potential, unless you are aware of all the
risks and are willing to take it.
My company matches a generous amount towards my 401k. I contribute to the max of that match.
I was a real estate broker in California, my last full year being 2008 and left my husband in 2007.
So as gentlemand pointed out: divorce can be costly.
I left him with his retirement, our bank accounts and the stocks (which he didn't manage well...selling at every dip)
I had to start over from under a huge amount of debt and it is going to be some time before I'm solvent...but getting there from where I was is part of the "fun" for me.
I don't take for granted that any of my savings are safe and prefer to have them spread out:
into traditional (401k/Precious metal...real estate) and non-traditional such as valuables that appreciate
and of course bitcoin...which keeps me on my toes.
I was a real estate broker in California, my last full year being 2008 and left my husband in 2007.
So as gentlemand pointed out: divorce can be costly.
I left him with his retirement, our bank accounts and the stocks (which he didn't manage well...selling at every dip)
I had to start over from under a huge amount of debt and it is going to be some time before I'm solvent...but getting there from where I was is part of the "fun" for me.
I don't take for granted that any of my savings are safe and prefer to have them spread out:
into traditional (401k/Precious metal...real estate) and non-traditional such as valuables that appreciate
and of course bitcoin...which keeps me on my toes.
That being said, I am still not ready to drop fiat right now so I will still keep savings in fiat at the time being.
The main question is do you trust it to put 30 years worth into it and hope nothing bad happens?
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