Do you still keep a fiat retirement account? - page 8.

gentlemand

legendary

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Welt Am Draht

Quote from: DebitMe on November 09, 2015, 11:17:55 PM

I absolutely keep a retirement account. It scares the hell out of me when you hear facts like 60% of American's don't even have $1000 saved, much less a retirement account.

I applaud your thoroughness. You may want to look into never getting married. If it went tits up that may throw a giant spanner in your plans.

DebitMe

legendary

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Get Paid Crypto To Walk or Drive

I absolutely keep a retirement account. It scares the hell out of me when you hear facts like 60% of American's don't even have $1000 saved, much less a retirement account. My employer makes contributions into it as well, so why wouldn't I have one? Assuming bitcoin continues to take off, I would hope that my fund managers would invest in bitcoin and I could reap the rewards, and if it fails, then I have my retirement money to fall back on.

Currently at the age of 26, I am estimating needing close to 6 to 7 million to retire properly at age 65. Long way to go, but that's why you start it now, so you have time to let it compound. Also that's minimum, I would eventually like to buy a condo in Hawaii and Myrtle Beach. That is an extra 2.5M and 500k respectively. That seems like a large amount of money, but I plan to be a millionaire by the time I am 40 by continuously maxing out my Roth IRA contributions and then pouring the excess into my 401K. If you can learn to live without needing that money, it is really easy to save and you never even know its not getting paid to you.

maokoto

hero member

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✪ NEXCHANGE | BTC, LTC, ETH & DOGE ✪

Young people now will have to work longer. Fortunately, we can work through the internet, which is not very hard physically.

No fiat retirement account for me either, nor Bitcoin. Just earn a bit to live and try to save a little.

Greenenergy

sr. member

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Why not? I will have one what others have. When the time comes, I will have money to spend as others. Besides that, I will put portion of my money to do the investment like cryptocoins.

vodaljepa

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Yes I do because you never know if you will need it

BitcoinBullion

newbie

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Some of you missed my point. I am not talking about keeping fiat savings or surplus money, I am talking about a fiat retirement account like a Roth Ira where you fund it with dollars for 30 years then access it when you are over 60 years old.

ajrah

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Merit: 250

Quote from: gentlemand on November 09, 2015, 07:53:56 PM

Savings account, yes. Retirement, no. I seriously doubt retirement will look anything like it does today and those who are young now won't be able to fund 3-4 decades of sitting on their arse and rotting, let alone their governments. It'll be straight into the dog food mincer for most of us.

Yes I agree with this, if you took an insurance or a pension plan 10 years ago, the value now of the money promised to be paid after 10 years is relatively low. But it's still a good option to invest on your retirement so at least when you reached your retirement age you still have something to pull out from your pocket.

jakelyson

legendary

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Quote from: BitcoinBullion on November 09, 2015, 07:26:04 PM

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 emergency account, savings account and payroll account in banks. My retirement funds is in form of investments thru mutual funds and stocks. Even if I believe that fiats are doomed, I think it is still wise to keep some just in case.

AncilVTwo

sr. member

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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.

romjpn

full member

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I the pay the retire thing here in Japan. I really don't know what to think as my country, France have quite a high birth rate so maybe all those kids will be able to pay (Japan and France have an agreement). But if I was Japanese, unless society takes a radical turn and leave most of the work to the robots, I think I would hesitate much more to pay.
At least I can cash out a percentage if I go back home. Already more than 3000$ paid so far Roll Eyes

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Hugroll

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Quote from: BitcoinBullion on November 09, 2015, 07:26:04 PM

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 dont believe fiat currency is doomed, though i do believe bitcoin is an outstanding currency.

i currently have a savings account in fiat where i keep most of my money and a paper wallet for btc where i keep ~90% of my coins. i like to be split between both fiat and btc.

ajrah

sr. member

Activity: 350

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fiat will always be there as this is the most accepted and most likely I'll be saving some in the bank as time deposit.
I invested some of my earnings in pension plans I just hope that the company will not shut down when I'm on my retirement age.

jacee

legendary

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Dollars is not my fiat where I live so... I still use fiat yes. Also bitcoin is not yet widely known here in my country thus bitcoin is not accepted anywhere so I can't use it withoit convertig to fiat. If wver there is a chance where my country will start accepting bitcoin as a whole then I will likely turn my savings all in bitcoin and just use bitcoin for good. I think that's impossible tho, not now atleast.

muna

member

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In my country it is impossible (withdraw retirement savings). But if I could do that, probably would leave them where they are as an additional form of security for future.

gentlemand

legendary

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Welt Am Draht

Savings account, yes. Retirement, no. I seriously doubt retirement will look anything like it does today and those who are young now won't be able to fund 3-4 decades of sitting on their arse and rotting, let alone their governments. It'll be straight into the dog food mincer for most of us.

BitcoinBullion

newbie

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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.

Topic: Do you still keep a fiat retirement account? - page 8. (Read 6150 times)