How many bitcoins do I need to retire in 20 years? - page 152.

futureofbitcoin

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Quote from: networthsigns on March 13, 2015, 02:34:57 PM

Quote from: manselr on March 13, 2015, 02:15:46 PM

Quote from: rikkie on March 11, 2015, 05:57:10 PM

Quote from: Possum577 on March 11, 2015, 05:54:14 PM

At the current price of $297, I'd say you should have at least BTC15,000 to retire (that equates to ~$5,000,000). It's certainly possible to survive in retirement for less, but why retire (if you don't have to) if you can't enjoy it? A $5M target protects you from inflation of prices and the longevity that a healthy and happy retirement will provide.

If you want to live without a worry I'd work to get double that amount, BTC33,670!

That is good count.
But it is dangerous to keep the amount in bitcoin when you retire.
You never know that one day the price goes down and down ...
It's a bit risky to let everything in BTC. I should sell a big part for dollars. You never know.

You are gambling by keeping everything on BTC and you are gambling by keeping everything in dollars, you should hold both.

Wowha that is a bit extreme to say you need 5,000,000 then to double it lol! You do not need nowhere near that amount in 90% of the world obviously depending on your retirement age plays a big part but who would want to hoard anywhere near that amount to be dead in a few years>?

If you have that much you already have your home paid for cars furniture, holidays etc so what is a middle age- old age man or female going to spend 5,000,000 on?

They would never get threw it imo and to answer the original post who knows, i mean 100 might be enough 1000 could be where is the price going to be by the time i retire, i will make a guess and a goal of holding at least 1000

Dude, you can spend 50,000 a DAY just for lunch. 5M isn't a lot.

networthsigns

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Quote from: manselr on March 13, 2015, 02:15:46 PM

Quote from: rikkie on March 11, 2015, 05:57:10 PM

Quote from: Possum577 on March 11, 2015, 05:54:14 PM

At the current price of $297, I'd say you should have at least BTC15,000 to retire (that equates to ~$5,000,000). It's certainly possible to survive in retirement for less, but why retire (if you don't have to) if you can't enjoy it? A $5M target protects you from inflation of prices and the longevity that a healthy and happy retirement will provide.

If you want to live without a worry I'd work to get double that amount, BTC33,670!

That is good count.
But it is dangerous to keep the amount in bitcoin when you retire.
You never know that one day the price goes down and down ...
It's a bit risky to let everything in BTC. I should sell a big part for dollars. You never know.

You are gambling by keeping everything on BTC and you are gambling by keeping everything in dollars, you should hold both.

Wowha that is a bit extreme to say you need 5,000,000 then to double it lol! You do not need nowhere near that amount in 90% of the world obviously depending on your retirement age plays a big part but who would want to hoard anywhere near that amount to be dead in a few years>?

If you have that much you already have your home paid for cars furniture, holidays etc so what is a middle age- old age man or female going to spend 5,000,000 on?

They would never get threw it imo and to answer the original post who knows, i mean 100 might be enough 1000 could be where is the price going to be by the time i retire, i will make a guess and a goal of holding at least 1000

manselr

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Quote from: rikkie on March 11, 2015, 05:57:10 PM

Quote from: Possum577 on March 11, 2015, 05:54:14 PM

At the current price of $297, I'd say you should have at least BTC15,000 to retire (that equates to ~$5,000,000). It's certainly possible to survive in retirement for less, but why retire (if you don't have to) if you can't enjoy it? A $5M target protects you from inflation of prices and the longevity that a healthy and happy retirement will provide.

If you want to live without a worry I'd work to get double that amount, BTC33,670!

That is good count.
But it is dangerous to keep the amount in bitcoin when you retire.
You never know that one day the price goes down and down ...
It's a bit risky to let everything in BTC. I should sell a big part for dollars. You never know.

You are gambling by keeping everything on BTC and you are gambling by keeping everything in dollars, you should hold both.

gentlemand

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Welt Am Draht

Quote from: ?? on ??

You guys are overly positive about the prices. Even $5k a coin would be an incredible achievement. Remember that it's a technology based on computers and internet and not many people still have these things.

Hmm. Those figures still look pretty nifty. There are already technologies that allow BTC use with SMS. That accounts for another swathe of people.

randy8777

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Quote from: jemsmuhamad on March 12, 2015, 09:45:28 PM

lol storing bitcoin for retirement plan.
but its good idea i think.
in the future, bitcoin price maybe up to $1 billion, who knows?

what have you been smoking? 1 billion per coin? really?
i guess a fair estimate is around $30.000 per coin in the future. but it definitely won't happen soon.

azguard

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Crypto-News.net: News from Crypto World

Keep some amount of btc is ok but on different locations or markets if hack come up you wont loose bit maybe some small amount
for retirement maybe but you never now what will be the price of btc

jemsmuhamad

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lol storing bitcoin for retirement plan.
but its good idea i think.
in the future, bitcoin price maybe up to $1 billion, who knows?

rikkie

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Richard Coleman - Chief Executive @ CloudThink.IO

Quote from: Possum577 on March 11, 2015, 05:54:14 PM

At the current price of $297, I'd say you should have at least BTC15,000 to retire (that equates to ~$5,000,000). It's certainly possible to survive in retirement for less, but why retire (if you don't have to) if you can't enjoy it? A $5M target protects you from inflation of prices and the longevity that a healthy and happy retirement will provide.

If you want to live without a worry I'd work to get double that amount, BTC33,670!

That is good count.
But it is dangerous to keep the amount in bitcoin when you retire.
You never know that one day the price goes down and down ...
It's a bit risky to let everything in BTC. I should sell a big part for dollars. You never know.

Possum577

sr. member

Activity: 434

Merit: 250

Loose lips sink sigs!

At the current price of $297, I'd say you should have at least BTC15,000 to retire (that equates to ~$5,000,000). It's certainly possible to survive in retirement for less, but why retire (if you don't have to) if you can't enjoy it? A $5M target protects you from inflation of prices and the longevity that a healthy and happy retirement will provide.

If you want to live without a worry I'd work to get double that amount, BTC33,670!

Samperio

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Picture this: Francisco de Quevedo.

Well, the younger you are, the more you can invest in Bitcoins because even if you loose it all, you can make it back quickly.

That sounds reasonable from a personal welfare point of view.

On the other hand, bitcoin economy should take off if more mature investors do not merely SAVE on bitcoin, but INVEST in it. I mean 40-50 somethings, already savy in regular business, and teamed up with some of those 20-30sthgs looking forward to work (not that much to invest) in the bitcoin economy.

While my previous paragraph really doesn't answer the original question for the post, it is initimately related to the economical basis of even trying to save in BTC. If bitcoin economy doesn't take off, well, the 20-30sthg who put some wealth in BTC will simply shrug her shoulders.

Me counting months backward to my 40s... so I shall work and invest. :-D I promise only my 40th birthday will be spent in a quantum investorworker state.

S.

BootstrapCoinDev

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The way I try to figure it is to look at the expenses you have now and adjust for the changes you know will take place by retirement. Such as having no mortgage or other debt, whether you plan on downsizing your house or not (if you do your utilities will change), and not having any kids at home, once you make those adjustments that will give you the amount to live in retirement at your current lifestyle, then you need to decide what you are going to do during this time and adjust for that (if you plan to travel or start a hobby).

manselr

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Quote from: futureofbitcoin on March 10, 2015, 07:38:47 AM

Depends on what stage of your life you're at now. For a recent college grad with maybe 5,000 in savings, putting all of it (or even taking out a small loan) in bitcoin is not that bad. Even if they lose it all, they can earn that money back in a year or less. The downside is limited, but the upside could be huge. Why not make that bet?

But if you're already 40-50, you don't want to sell your house and put it all in bitcoin.

The problem is being college aged like me, but having no money to invest in anything, which is most college grads nowadays unless they come from well off families.

micky123

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Quote from: futureofbitcoin on March 10, 2015, 07:38:47 AM

Depends on what stage of your life you're at now. For a recent college grad with maybe 5,000 in savings, putting all of it (or even taking out a small loan) in bitcoin is not that bad. Even if they lose it all, they can earn that money back in a year or less. The downside is limited, but the upside could be huge. Why not make that bet?

But if you're already 40-50, you don't want to sell your house and put it all in bitcoin.

I agree with your point of view too. You sub-consciously think of your own situation when responding on these forums and that's what has happened here Grin

. I just hit 31 yesterday, so im still below the target age that you specified. It is always good to start a retirement fund when you are young. Smaller contributions could go in initially and as and when you grow in your career you can start saving up more money for the fund. I started saving when i was 16, that's fairly young. When people were busy frittering away their allowance, i was saving part of my allowance (which wasn't really that much, btw) and still having a good time. I used to skip one movie a month and that saved me like $2 back in the day. I slowly started investing money in certain ventures and if not for a business setback i would have owned more than a 1000BTC (maybe even more if i was an early adopter) at this point in time. It makes sense to start young, albeit with smaller amounts (like 10% of allowance a month).

winchancer

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That's a lot! LOL

futureofbitcoin

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Depends on what stage of your life you're at now. For a recent college grad with maybe 5,000 in savings, putting all of it (or even taking out a small loan) in bitcoin is not that bad. Even if they lose it all, they can earn that money back in a year or less. The downside is limited, but the upside could be huge. Why not make that bet?

But if you're already 40-50, you don't want to sell your house and put it all in bitcoin.

micky123

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Quote from: Denker on March 10, 2015, 07:06:03 AM

Quote from: micky123 on March 10, 2015, 06:32:00 AM

I would get at least 10 Bitcoins to be on the safe side. However, i will buy these bitcoins from money that i can afford to lose. My retirement fund will be growing separately (retirement fund consists of blue chip stocks, Gold, Silver, Fixed deposits, Real Estate etc.,). I purchase Btc off the remains and earmark a small amount toward bitcoin each month in my entertainment fund. This way, even if BTC crashes, i am still protected as i would not have lost everything i have and my retirement fund would still remain intact. I am not a bear when it comes to bitcoin, but its better to be safe than sorry! Grin

I wish that bitcoin rises high, so my retirement fund will be like pocket change for me! Grin

You're doing it completely right.You diversify your risk. Don't put all your eggs in one basket. I also believe in BTC and hope it will have a bright and succesful future. But for not ruin yourself everyone should really only invest what he can afford to lose.

Thank you! I believe this is how people should invest in Bitcoin. I have heard of people who invested their life savings to buy bitcoin when it was going great guns and bought in at $900 odd. Now they cry that they have lost everything, it is pretty sad, but then again...they did it with their own hands! Why would you invest your life savings into something that looked like a bubble? The answer is simple, greed! If you are greedy, you will end up losing. I have been greedy when gambling and lost quite a bit. The key is to curb the feelings of greed, this is very difficult to do and requires discipline... if you don't start inculcating discipline now, you will always end up the loser. My 2 satoshi. Grin

Denker

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Quote from: micky123 on March 10, 2015, 06:32:00 AM

I would get at least 10 Bitcoins to be on the safe side. However, i will buy these bitcoins from money that i can afford to lose. My retirement fund will be growing separately (retirement fund consists of blue chip stocks, Gold, Silver, Fixed deposits, Real Estate etc.,). I purchase Btc off the remains and earmark a small amount toward bitcoin each month in my entertainment fund. This way, even if BTC crashes, i am still protected as i would not have lost everything i have and my retirement fund would still remain intact. I am not a bear when it comes to bitcoin, but its better to be safe than sorry! Grin

I wish that bitcoin rises high, so my retirement fund will be like pocket change for me! Grin

You're doing it completely right.You diversify your risk. Don't put all your eggs in one basket. I also believe in BTC and hope it will have a bright and succesful future. But for not ruin yourself everyone should really only invest what he can afford to lose.

micky123

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I would get at least 10 Bitcoins to be on the safe side. However, i will buy these bitcoins from money that i can afford to lose. My retirement fund will be growing separately (retirement fund consists of blue chip stocks, Gold, Silver, Fixed deposits, Real Estate etc.,). I purchase Btc off the remains and earmark a small amount toward bitcoin each month in my entertainment fund. This way, even if BTC crashes, i am still protected as i would not have lost everything i have and my retirement fund would still remain intact. I am not a bear when it comes to bitcoin, but its better to be safe than sorry! Grin

I wish that bitcoin rises high, so my retirement fund will be like pocket change for me! Grin

vrm86

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This thread is just simply speculation about BTC price in x years.

As I am still <30 and have time and will I am carefully long term trading my bitcoins. Main advantage of this is that I am in touch with market so I won't let my savings to significantly drop in value. Of course my target is to earn on my trades so I assume that I will gain more and more btc not only from converting fiat. And one day I'll put part of my savings into cold storage away from exchanges Wink

el kaka22

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www.Crypto.Games: Multiple coins, multiple games

as much as you can get.. it would be useless if you want a lot of bitcoin but it's just a fantasy
better had a little bitcoin but real

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