Advising at this point is really a big deal firstly he lacks the bitcoin knowledge secondly bitcoin investment is never suitable for retirement benefit although bitcoin investing can stand as an asset when he/she has another source of income but, whereby anyone is viewing bitcoin investment as a retirement business is making a mistake. It would have been more better if he had this investment earlier seeing bitcoin price now shows he can’t invest a quality amount with that mindset.
If the money is huge I will advice another investment plan aside bitcoin, an investment that will earn quick profits like physical properties, bitcoin investment is a long term investment that needs more planning for long that’s why I will suggest something else rather than seeking for quick profit with lose.
Topic: He wants to Invest in Bitcoin for His Retirement. (Read 1790 times)
After retirement, a person usually has reduced work efficiency to a great extent, so he is not in the mood to work hard, so he has to choose some business where his physical effort will be much less. In this respect if a retired officer is willing enough to invest in Bitcoin and is prepared to take all the risks then he can definitely invest in Bitcoin if his retirement allowance is sufficient.
Anyone is actually free to invest his retirement funds to any potential investment that he likes, but the question is, would he be willing to risk his hard-earned money and wait for long years before he can make sustainable returns? That would be easy to tell but if you're in actual situation, you will definitely experience hesitation most especially that we are talking here about a high risky and volatile investment, wherein you can lose your money anytime if you end up even with a single wrong decision in your life. 
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Investing on crypto or Bitcoin with your retirement is really that bit risky. Why? There's no assurance about success or pump up in the future. What if it would go south? and this is really that your last resort on having a comfortable living or life on your old years or senior?
This is why it will always be that recommended on having always that back up plans on which this will really be that recommended because always having back up plans will really be giving out that kind of edge
or advantage in comparing into those people who do have none.
Maybe by doing some good management on their retirement money can be a good way out.Investing on crypto or Bitcoin with your retirement is really that bit risky. Why? There's no assurance about success or pump up in the future. What if it would go south? and this is really that your last resort on having a comfortable living or life on your old years or senior?
This is why it will always be that recommended on having always that back up plans on which this will really be that recommended because always having back up plans will really be giving out that kind of edge
or advantage in comparing into those people who do have none.
For example, only 50% is invested in Bitcoin and the remaining 50% is used to invest elsewhere or build a business that can provide good passive income.
Bitcoin is indeed high risk because of its uncontrollable volition, but it can provide greater profits and see how someone who bought and held Bitcoin a few years ago and then sold it today. It provides tremendous advantages.
After retirement, a person usually has reduced work efficiency to a great extent, so he is not in the mood to work hard, so he has to choose some business where his physical effort will be much less. In this respect if a retired officer is willing enough to invest in Bitcoin and is prepared to take all the risks then he can definitely invest in Bitcoin if his retirement allowance is sufficient.
The problem is in terms of time in the end because even though it is still quite feasible when in bitcoin but we know that in the end the ideal situation to be in bitcoin is long-term so when only expecting investment to get monthly income in bitcoin I think it is not very effective because we must be aware that investing in bitcoin is not as simple as saving money and getting dividends every month.So there needs to be more understanding of this because as you say they are retired sometimes just trying to maintain productivity at the final level when efficiency in work weakens so in this case they will not be able to be in the long term when in bitcoin. Even if they do see the risk and it's okay to do that, the thinking should be more open when a retiree wants to invest in bitcoin unless their intention is longer term and it doesn't matter even if they don't get results because there are successors who are ready to continue.
Since the pastor is getting retired bitcoin shouldn't be the first plan. He is getting retired and where he normally make money from he won't be getting it again, that source is already close. It will be better for him to think about how to create income first either by doing business that can give him income everyday. If having a steady income is achieved then he can think of investing bitcoin. It does not make any sense that someone is getting retired and he is just making plans to invest bitcoin, the truth is that he is thinking bitcoin can be is next source of income or a career line to depend on.
Now are days churches are more business-minded than how they used to focus on only preaching and doing the work of God, which means that even if the pastor is no longer leading in that church as an active pastor, that does not stop the church from giving him his share of the revenue the church will be getting on a monthly basis. That being said, we can see that he still has a source of income. If that won't work, he will still have those who will be coming to thank him with gifts and money that will sustain the family (those can also be considered as resources). If he really wants to invest in Bitcoin, he can also still do it and still have some money to set up a little business, which the family can be getting daily income from for their daily expenses.
A Senior Pastor (The Most Reverend in the Province) in my Church called me last week Sunday to see him after the Sunday service which I did. When I met him, he told me that he wanted to see me for a very long time. People have told him that I am good with bitcoin investment andalso teaching people in it. Thathe has three children and all have graduated from University but because of the way things are in the country, they have not secured jobs. And any moment from now he will retired. So he wants to invest online business if I know any. And I told him that I know of only one which is investing in bitcoin.
And I told him the two types of investment. Short term and long term and I suggested long investment for him but he said he likes the short term investment because he can feed from it and I told him that, he can't invest in bitcoin and still feed from it. He can't feed from it because if he does then he will be at the losing side so the best option is the long term investment.
And he said I should managed the investment for him and I told him that he should used one of his trusted children but I can only be a mentor, guidance and adviser to him and not to manage the investment for him. And I will introduce the DCA method of investment for him since he depends on the monthly stipend of the church. My problem here is, the time he is planning for his retirement investment is too close. It is just few months to his retirement and that is when he is serious about it. What was his plan for all these years in active service?
As it is, we have scheduled another meeting this Sunday again after the Sunday service. And if he is serious I will invest for him but I prefer the long term but as a age man, really he needs an investment that can brings feed to his table daily and that is why he was insisting on the short term investment buy that cannot do him anything base on the volatile nature of Bitcoin.
Your input can help this man through me.
What input are you interested to hear from us? You mean we should advise you are your pastor to engage in cryptocurrency business with congregation funds? I will never concur to this and you know that such a fund is of the Lord and you are trying to lure him to invest in cryptocurrency when you don't have a thing to show about it. There are so many risks involved in cryptocurrency and maybe you don't have the idea and what it takes for the church funds to be invested in cryptocurrency when you obvious know that the price of Bitcoin can falls, taking a very long time before it could continue the bull movement. Why will a pastor invest with God's money when their are so many people suffering with food in their tables. And I told him the two types of investment. Short term and long term and I suggested long investment for him but he said he likes the short term investment because he can feed from it and I told him that, he can't invest in bitcoin and still feed from it. He can't feed from it because if he does then he will be at the losing side so the best option is the long term investment.
And he said I should managed the investment for him and I told him that he should used one of his trusted children but I can only be a mentor, guidance and adviser to him and not to manage the investment for him. And I will introduce the DCA method of investment for him since he depends on the monthly stipend of the church. My problem here is, the time he is planning for his retirement investment is too close. It is just few months to his retirement and that is when he is serious about it. What was his plan for all these years in active service?
As it is, we have scheduled another meeting this Sunday again after the Sunday service. And if he is serious I will invest for him but I prefer the long term but as a age man, really he needs an investment that can brings feed to his table daily and that is why he was insisting on the short term investment buy that cannot do him anything base on the volatile nature of Bitcoin.
Your input can help this man through me.
After retirement, a person usually has reduced work efficiency to a great extent, so he is not in the mood to work hard, so he has to choose some business where his physical effort will be much less. In this respect if a retired officer is willing enough to invest in Bitcoin and is prepared to take all the risks then he can definitely invest in Bitcoin if his retirement allowance is sufficient.
"Investing in Bitcoin for retirement? Well, that's one way to keep the faith strong! 😅 But tell the pastor that Bitcoin might be a bit too volatile for divine intervention—he might need more than a prayer to retire comfortably! 🙏📉"
Since the pastor is getting retired bitcoin shouldn't be the first plan. He is getting retired and where he normally make money from he won't be getting it again, that source is already close. It will be better for him to think about how to create income first either by doing business that can give him income everyday. If having a steady income is achieved then he can think of investing bitcoin. It does not make any sense that someone is getting retired and he is just making plans to invest bitcoin, the truth is that he is thinking bitcoin can be is next source of income or a career line to depend on.Of course, we’re still encouraging him to explore this interest since we all know how profitable it can be, despite the risks involved.
Yeah, he should have a backup plan for sure knowing the market and it's secrets that can happen from time to time
Though it's noble to try investing into BTC nontheless.It just should be done responsibly.
investments on which this would really be able to potentially be able to reach up those goals or targets that you are really that wishing to achieved on. Investing on crypto or Bitcoin with your retirement is really that bit risky. Why? There's no assurance about success or pump up in the future. What if it would go south? and this is really that your last resort on having a comfortable living or life on your old years or senior?
This is why it will always be that recommended on having always that back up plans on which this will really be that recommended because always having back up plans will really be giving out that kind of edge
or advantage in comparing into those people who do have none.
"Investing in Bitcoin for retirement? Well, that's one way to keep the faith strong! 😅 But tell the pastor that Bitcoin might be a bit too volatile for divine intervention—he might need more than a prayer to retire comfortably! 🙏📉"
Since the pastor is getting retired bitcoin shouldn't be the first plan. He is getting retired and where he normally make money from he won't be getting it again, that source is already close. It will be better for him to think about how to create income first either by doing business that can give him income everyday. If having a steady income is achieved then he can think of investing bitcoin. It does not make any sense that someone is getting retired and he is just making plans to invest bitcoin, the truth is that he is thinking bitcoin can be is next source of income or a career line to depend on.Of course, we’re still encouraging him to explore this interest since we all know how profitable it can be, despite the risks involved.
Yeah, he should have a backup plan for sure knowing the market and it's secrets that can happen from time to time
Though it's noble to try investing into BTC nontheless.It just should be done responsibly.
"Investing in Bitcoin for retirement? Well, that's one way to keep the faith strong! 😅 But tell the pastor that Bitcoin might be a bit too volatile for divine intervention—he might need more than a prayer to retire comfortably! 🙏📉"
Since the pastor is getting retired bitcoin shouldn't be the first plan. He is getting retired and where he normally make money from he won't be getting it again, that source is already close. It will be better for him to think about how to create income first either by doing business that can give him income everyday. If having a steady income is achieved then he can think of investing bitcoin. It does not make any sense that someone is getting retired and he is just making plans to invest bitcoin, the truth is that he is thinking bitcoin can be is next source of income or a career line to depend on.Of course, we’re still encouraging him to explore this interest since we all know how profitable it can be, despite the risks involved.
I do agree with some of your point, if I were to retire the first thing I am looking for is definitely a stability. It would therefore make much more sense to begin with a business or something that generates daily income, as it provides security. All that being said, investment in Bitcoin may not be a bad thing, but it is not the safest for a person who depends on cash flow that would be regular. Bitcoin can turn very volatile at any moment, but as I have retired I will have so much free time to learn more about Bitcoin, and learning new things is fun, moreover if we can get some income or profit doing it.
Investing in Bitcoin is before retirement, in old age (retirement) of course we don't need investment anymore but we only need to enjoy what we have built so far.Doing business is of course very important for financial stability, this cannot be expected in investing in Bitcoin because the movement is quite fluctuating, making it not guaranteeing daily profits so this cannot be used as the main source of income to support daily financial stability for individuals.
So invest in Bitcoin early, for your old age, I am very sure it will be very profitable.
Hitting the nail there. Investing in BTC can't be the main source of your income when you retire, as well as memes or alts. Better yet, do it while you can have stability in your income, and then reap the boons from it.
There is no two ways about it, since his retirement is very close, he should take the money available and invest in physical business that he can be managing and get his daily feeding from there. From the profits he will be getting from the business he can investing in bitcoin through DCA on monthly basis, since the business is still new, he might not be getting enough profits to cater for his daily needs and weekly DCA. So monthly DCA will be best for him. You know that bitcoin investment need to be done in a manner where there is no pressure on you and the capital invested should be one that is not for immediate use. Also anyone going into bitcoin investment should have other sources of income. But in the case of this your client, he hasn't put any thing on ground that will serve as a source of income which will sustain the investment he intends doing. So when you meet him this Sunday, advise him to use that money and start up another business and invest in bitcoin with time. That's the best advice you can give to him, so you don't end up putting yourself and him in a tight corner.
Encouraging him to investment through the DCA strategy from the money to be gotten from a physical business after ensuring his other living expenses are taken care of, perhaps how old the pastor is should also be considered since the DCA strategy could take a longer period of time of having or realizing a good size of Bitcoin up to a reasonable amount, or maybe he might not just be investing for himself probably for his generation based on the time line, it would have been more better when he was very much in active service than now that he is closed to retirement. However, such investment might just end up being an inheritance to his generation considering the pastor's age and the nature of Bitcoin dynamics. There is a possibility of him not to be in profits when he might have plan to sell based on his age.
I do agree with some of your point, if I were to retire the first thing I am looking for is definitely a stability. It would therefore make much more sense to begin with a business or something that generates daily income, as it provides security. All that being said, investment in Bitcoin may not be a bad thing, but it is not the safest for a person who depends on cash flow that would be regular. Bitcoin can turn very volatile at any moment, but as I have retired I will have so much free time to learn more about Bitcoin, and learning new things is fun, moreover if we can get some income or profit doing it.
Investing in Bitcoin is before retirement, in old age (retirement) of course we don't need investment anymore but we only need to enjoy what we have built so far.Doing business is of course very important for financial stability, this cannot be expected in investing in Bitcoin because the movement is quite fluctuating, making it not guaranteeing daily profits so this cannot be used as the main source of income to support daily financial stability for individuals.
So invest in Bitcoin early, for your old age, I am very sure it will be very profitable.
"Investing in Bitcoin for retirement? Well, that's one way to keep the faith strong! 😅 But tell the pastor that Bitcoin might be a bit too volatile for divine intervention—he might need more than a prayer to retire comfortably! 🙏📉"
Since the pastor is getting retired bitcoin shouldn't be the first plan. He is getting retired and where he normally make money from he won't be getting it again, that source is already close. It will be better for him to think about how to create income first either by doing business that can give him income everyday. If having a steady income is achieved then he can think of investing bitcoin. It does not make any sense that someone is getting retired and he is just making plans to invest bitcoin, the truth is that he is thinking bitcoin can be is next source of income or a career line to depend on.I do agree with some of your point, if I were to retire the first thing I am looking for is definitely a stability. It would therefore make much more sense to begin with a business or something that generates daily income, as it provides security. All that being said, investment in Bitcoin may not be a bad thing, but it is not the safest for a person who depends on cash flow that would be regular. Bitcoin can turn very volatile at any moment, but as I have retired I will have so much free time to learn more about Bitcoin, and learning new things is fun, moreover if we can get some income or profit doing it.
Investing in Bitcoin based on your retirement that will help you if you have more 30 years on Earth to live but some persons who don't know what is Bitcoin will not have such mentality to invest in Bitcoin because of their retirement in service even though the person who is planning for each retirement did not be a beneficiary or have opportunity to withdraw it investment in Bitcoin did you children come also be a beneficiary to it because the value of bitcoin today may not be the value of bitcoin tomorrow it may be that the person use 200,000 thousand dollars to invest in Bitcoin but after 10 years the benefit will be more than what it used to invest in Bitcoin
But you need to remember that when you retire, you will no longer have any source of income to cover your daily expenses and your pension is the only money you can use to maintain your life until you die. Therefore, you need to depend on your economic conditions to have a suitable plan.
You can invest a little in bitcoin but invest in yourself instead of investing in your children, don't spoil them too much and retirement is the time to enjoy life not to think about making money for the next generation. They are younger than us, they are healthy and they are able to support themselves.
Honestly, using pension money to invest in bitcoin is quite risky, if it were me, I would consider it carefully.
Investing in Bitcoin based on your retirement that will help you if you have more 30 years on Earth to live but some persons who don't know what is Bitcoin will not have such mentality to invest in Bitcoin because of their retirement in service even though the person who is planning for each retirement did not be a beneficiary or have opportunity to withdraw it investment in Bitcoin did you children come also be a beneficiary to it because the value of bitcoin today may not be the value of bitcoin tomorrow it may be that the person use 200,000 thousand dollars to invest in Bitcoin but after 10 years the benefit will be more than what it used to invest in Bitcoin
"Investing in Bitcoin for retirement? Well, that's one way to keep the faith strong! 😅 But tell the pastor that Bitcoin might be a bit too volatile for divine intervention—he might need more than a prayer to retire comfortably! 🙏📉"
Since the pastor is getting retired bitcoin shouldn't be the first plan. He is getting retired and where he normally make money from he won't be getting it again, that source is already close. It will be better for him to think about how to create income first either by doing business that can give him income everyday. If having a steady income is achieved then he can think of investing bitcoin. It does not make any sense that someone is getting retired and he is just making plans to invest bitcoin, the truth is that he is thinking bitcoin can be is next source of income or a career line to depend on.If the pastor thinks that after retirement he will have no more income, it is better to do what you suggest. Build a business so that there is income from that income, then set aside some of the income to invest in bitcoin. It is very natural for someone who is approaching retirement to think about where to go after retirement so that there is still income, but if you think that bitcoin can generate steady income, that is wrong.
"Investing in Bitcoin for retirement? Well, that's one way to keep the faith strong! 😅 But tell the pastor that Bitcoin might be a bit too volatile for divine intervention—he might need more than a prayer to retire comfortably! 🙏📉"
Since the pastor is getting retired bitcoin shouldn't be the first plan. He is getting retired and where he normally make money from he won't be getting it again, that source is already close. It will be better for him to think about how to create income first either by doing business that can give him income everyday. If having a steady income is achieved then he can think of investing bitcoin. It does not make any sense that someone is getting retired and he is just making plans to invest bitcoin, the truth is that he is thinking bitcoin can be is next source of income or a career line to depend on.When someone is approaching retirement age, it will indeed be better for them not to make Bitcoin as an asset that they will invest in because of retirement age, I think it is better for them to be able to enjoy their retirement by relaxing by enjoying the income that they have accumulated when they were young and choosing to run a business, of course this will be very good for them because it has little risk, but they must also understand well that they will the business they will run.
Of course it is very important for anyone who wants to run an investment in Bitcoin to be able to have a steady income but when they no longer have a fixed income of course it will be very unlikely for them to be able to run the investment well and after retirement of course they have to continue to have a steady income through a reliable path and with Bitcoin I think there is a high risk for those who have retired, However, if one prepares for their retirement, of course, this will be very good for their future.
Since Bitcoin hit ATH before halving and till now, the price has been correcting and stagnating for more than 6 months and this topic was created in August. And as we can see, it has barely brought any significant returns to any investor who has invested in the past 6 months, let alone being able to give us a steady income.
Indeed, using retirement funds to invest in bitcoin in the hopes of making short-term profits or expecting it to provide a steady income is a bad idea.
Although bitcoin's volatility may seem appealing for us to make short-term profits, the truth is not that simple, bitcoin is only suitable for long-term investment.
Indeed, using retirement funds to invest in bitcoin in the hopes of making short-term profits or expecting it to provide a steady income is a bad idea.
Although bitcoin's volatility may seem appealing for us to make short-term profits, the truth is not that simple, bitcoin is only suitable for long-term investment.
The ATH came before the halving so this are some of the signs that you not actually predict exactly what will happen when it comes to bitcoin price and halving was another moment that peoples expectation was high because they were information that halving then come after will be bullrun and their have not been serious changes since then, the price have just been around and very unstable and I think that their was a lot of expectation's that is why it so, if not this is not a new investment so why are so bothered about the price that is for those that are holding, they already know that they are holding for a long time, so it is something they have concluded in their mind before any other thing.
For a long time investor we I think six month is to early to be actually waiting for returns and they are actually scared of losing money if not since they want something short all they can do is to go into trading because that will even be much better, and anyone that want to use their retirement fund is their choice so we don't even have a say anything they say and it is convenient for them then it will be great move they have made. just that i wont advice the person should use all the money to invest in bitcoin.
After the retirement minute, to invest your capital or saving on Bitcoin is good. But it is not appropriate to show haste. It is better that Bitcoin business should be thoroughly studied for this purpose. Its maps, flow charts, graphs, market fluctuations and its history should be thoroughly seen. study whale,for Bitcoin Coin, Trading, Staking, Valuation and Mining etc.
Initially ,invest in Bitcoin experimentally and after learning this business thoroughly. Gradually invest and then jump completely in this business. So in this way, your capital will avoid to waste due to inexperience.ٰ I think it is better way to invest and other that God will do it better for you.
Please remember that we are talking about retirement funds here and not just a simple budget that one decides to invest in Bitcoin to earn yearly outcomes from it. The person wants to earn an steady income by investing his retirement funds in Bitcoin which is not a good idea because we know there is no guarantee for short-term gains from cryptocurrencies, especially Bitcoin since it isn't usually as volatile as other cryptocurrencies in the market.Initially ,invest in Bitcoin experimentally and after learning this business thoroughly. Gradually invest and then jump completely in this business. So in this way, your capital will avoid to waste due to inexperience.ٰ I think it is better way to invest and other that God will do it better for you.
We have seen Bitcoin being stagnant from $28k to $31k for almost six months or so. Imagine if someone has invested all their money into it so that they can earn a monthly income from it and then this happens. So it's not a foolproof plan when it comes to steady incomes.
Bitcoin is only good for long-term investments and not for short-term gains.
Since Bitcoin hit ATH before halving and till now, the price has been correcting and stagnating for more than 6 months and this topic was created in August. And as we can see, it has barely brought any significant returns to any investor who has invested in the past 6 months, let alone being able to give us a steady income.
Indeed, using retirement funds to invest in bitcoin in the hopes of making short-term profits or expecting it to provide a steady income is a bad idea.
Although bitcoin's volatility may seem appealing for us to make short-term profits, the truth is not that simple, bitcoin is only suitable for long-term investment.
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