How many bitcoins do I need to retire in 20 years? - page 9.

lavapits

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Quote from: sishendaoye on September 05, 2016, 11:15:31 AM

Quote from: Bitcoin Phoenix on April 28, 2014, 02:15:52 PM

Personally, I am buying as much as I can, but not more than I can afford to loose. If the landscape changes and we end up using an altcoin or some crazy unforseen circumstances (power grid goes down, govt interference, etc) cause Bitcoin to be worthless, you don't want to wind up pennyless. Undecided

That being said, BUY BUY BUY! Buy as much as you can and put it away and forget about it for 10-20 years. Your children and grandchildren may thank you someday. I am hoping to accumulate at least 1 BTC for myself, my wife, and each of my kids for long term holding... and to gradually increase the amount from there Wink

Bitcoin Phoenix

You will really need allot of Bitcoin if you want to retire but is also depends on your standards.
But I guess that you want at least a couple of thousand before you are going to retire.

of course you would have to have a lot of bitcoins to be able to retire at some point and i think the smallest amount would be like 100 bitcoins

sishendaoye

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Quote from: Bitcoin Phoenix on April 28, 2014, 02:15:52 PM

Personally, I am buying as much as I can, but not more than I can afford to loose. If the landscape changes and we end up using an altcoin or some crazy unforseen circumstances (power grid goes down, govt interference, etc) cause Bitcoin to be worthless, you don't want to wind up pennyless. Undecided

That being said, BUY BUY BUY! Buy as much as you can and put it away and forget about it for 10-20 years. Your children and grandchildren may thank you someday. I am hoping to accumulate at least 1 BTC for myself, my wife, and each of my kids for long term holding... and to gradually increase the amount from there Wink

Bitcoin Phoenix

You will really need allot of Bitcoin if you want to retire but is also depends on your standards.
But I guess that you want at least a couple of thousand before you are going to retire.

fravia

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Quote from: CroIsBest on September 02, 2016, 05:09:29 PM

To retire your body from work in 20 years you should telll us from which country you are because then it is more easy to say you how much money you ned to retire yourself.I need billions of dollars to retire myself.

i think you are right, it really depends on how much money you need in the future, i hope that in the future it would be enough to have 20 bitcoins

Ziskinberg

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Quote from: Latwindar on September 04, 2016, 01:35:41 PM

Quote from: Divinespark on September 04, 2016, 11:43:39 AM

I may well be way off base, but I think in 20 years time if BTC survives, even 20BTC will be an enormous stash to have with substantial purchasing power. Somewhere between 20 and 50 BTC may make for an absurdly chilled retirement.

If the bitcoin survive in the next 20 years, the price will be at least 5000 times higher than now. So we will be rich.

Come on man, bitcoin will exist for more than 20 years but seeing that increase would be unrealistic, one thing I am certain of is that the price will increase but that would not be that big.

Latwindar

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Quote from: Divinespark on September 04, 2016, 11:43:39 AM

I may well be way off base, but I think in 20 years time if BTC survives, even 20BTC will be an enormous stash to have with substantial purchasing power. Somewhere between 20 and 50 BTC may make for an absurdly chilled retirement.

If the bitcoin survive in the next 20 years, the price will be at least 5000 times higher than now. So we will be rich.

Divinespark

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I may well be way off base, but I think in 20 years time if BTC survives, even 20BTC will be an enormous stash to have with substantial purchasing power. Somewhere between 20 and 50 BTC may make for an absurdly chilled retirement.

wxa7115

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Quote from: Aamir1 on September 04, 2016, 05:26:16 AM

Quote from: CroIsBest on September 02, 2016, 05:09:29 PM

To retire your body from work in 20 years you should telll us from which country you are because then it is more easy to say you how much money you ned to retire yourself.I need billions of dollars to retire myself.

That's actually a good point, because there are some countries where you don't need much money for a living like i saw someone saying that he just spends $80 a month which is his salary and he is having no much problems with that because he is from such a country, i think he said he was from venezuela or something like that.

This is correct, but you must understand that If you have dollars in Venezuela you can live like a king there, there is a black market for dollars and they pay many times over the government rate.

JumperX

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Quote from: blackmachinegun on September 04, 2016, 08:15:48 AM

Quote from: CroIsBest on September 02, 2016, 05:09:29 PM

To retire your body from work in 20 years you should telll us from which country you are because then it is more easy to say you how much money you ned to retire yourself.I need billions of dollars to retire myself.

I think you do not need to be complicated to ask the state of each user. you just need to collect at least 1000 BTC I'm sure whoever you are and wherever you come from. 1000 BTC you will live comfortably in the 20 years to come, Trust me

1000 btc is really a great amount to hold for the future but I don't think it will be possible for all to have that amount in future and if price reached to $2k then I think even 100 btc would be enough for me.

blackmachinegun

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Quote from: CroIsBest on September 02, 2016, 05:09:29 PM

To retire your body from work in 20 years you should telll us from which country you are because then it is more easy to say you how much money you ned to retire yourself.I need billions of dollars to retire myself.

I think you do not need to be complicated to ask the state of each user. you just need to collect at least 1000 BTC I'm sure whoever you are and wherever you come from. 1000 BTC you will live comfortably in the 20 years to come, Trust me

anonbit992

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That's a hard question to answer properly and the amount of bitcoin you need will depend on the country you live and your life style. Even when you say you don't want to buy a yacht or something. Old people will have to spend a lot of money for healthcare so better start taking good care of your health, else you're going to have a hard time spending a major chuck of your retirement fund.

Other point would be to diversify your portfolio and don't just concentrate ONLY into bitcoin. God knows what will be worth after some years. So diversify your portfolio, you may not become filthy rich by diversification but it will help you have a decent life. Again "decent life" is subjective.

Best thing to do is, save some...spend some and have no regrets. Wink

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Quote from: mark coins on September 01, 2016, 06:09:34 PM

Quote from: SmartIphone on September 01, 2016, 06:06:15 PM

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Quote from: SmartIphone on September 01, 2016, 05:05:08 PM

Quote from: Alley on April 28, 2014, 01:04:32 PM

Lets say I want to buy bitcoins today and store them for 20 years to use a my retirement fund. Live comfortably, but don't need to buy a yacht or anything. How many do you think I would need to buy?

This question is very tricky because we don't know or don't have the knowledge to predict after 20 years what will happen with the internet neither with the bitcoin.
I think that you should count a million dollar equivalent in bitcoin, so around 2,000BTC or more I think should be enough.

If you are a bitcoiner then there is no age limit for retirement, you can earn bitcoin till you are alive, so if you get retire from full time job then you can get full time in bitcoins after that.

When you get retired sometimes means that you are not able to work anymore so bitcoin is just money that is for the work we do, so just a kind of money.
Thinking from now about the retirement is a bit early but at least thousands of bitcoin at current value should be enough but who know what price will have bitcoin after 20 years.

Earning bitcoin doesn't involve any physical efforts, you can easily earn it by sitting at home in front of computer so I will keep on earning bitcoins even if I get retired and older.

You are probably young like most of people here, but after you get retired even your mind is tired and needs to be relaxed.
Just sitting in front of the computer you say it is easy, no it isn't, people get paid to do many tasks in computer, if you mean posting in forums then even that needs time and mind power.

Aamir1

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Quote from: CroIsBest on September 02, 2016, 05:09:29 PM

To retire your body from work in 20 years you should telll us from which country you are because then it is more easy to say you how much money you ned to retire yourself.I need billions of dollars to retire myself.

That's actually a good point, because there are some countries where you don't need much money for a living like i saw someone saying that he just spends $80 a month which is his salary and he is having no much problems with that because he is from such a country, i think he said he was from venezuela or something like that.

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Quote from: CroIsBest on September 02, 2016, 05:09:29 PM

To retire your body from work in 20 years you should telll us from which country you are because then it is more easy to say you how much money you ned to retire yourself.I need billions of dollars to retire myself.

agree it, each country, each place have diffirent tradition, diffirent style, and diffirent cost too.
if we live in newyork, for 20years im sure we need more than $500.000 and im sure it's not a small money for saving

wxa7115

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Quote from: marcuslong on September 03, 2016, 09:18:01 AM

Quote from: sempak on June 18, 2016, 07:59:26 AM

you need 200 Bitcoin to be able to live happily for 20 years. it is indeed very difficult. but it is a real value that is true today. Do not ever stop to get bitcoin.

Or more than that because if you are going to retire and you will not going to do a job in 20 years probably you need more than 100000 bitcoin because if you are going to buy house and lot and doing some traveling ofcourse you need a lot of bitcoin so that you can start life with our doing some stable job anyway good luck

If someone can acquire 100k of bitcoins at current prices I have my doubts that this person is going to have any kind of problems for his retirement.

peta4e

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Quote from: marcuslong on September 03, 2016, 09:18:01 AM

Quote from: sempak on June 18, 2016, 07:59:26 AM

you need 200 Bitcoin to be able to live happily for 20 years. it is indeed very difficult. but it is a real value that is true today. Do not ever stop to get bitcoin.

Or more than that because if you are going to retire and you will not going to do a job in 20 years probably you need more than 100000 bitcoin because if you are going to buy house and lot and doing some traveling ofcourse you need a lot of bitcoin so that you can start life with our doing some stable job anyway good luck

Its not possible to hold 100k bitcoins for future that is totally impossible amount to think of as there are only 21 millions coins so you can expect that everyone can manage to have that high amount of coins.

marcuslong

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Quote from: sempak on June 18, 2016, 07:59:26 AM

you need 200 Bitcoin to be able to live happily for 20 years. it is indeed very difficult. but it is a real value that is true today. Do not ever stop to get bitcoin.

Or more than that because if you are going to retire and you will not going to do a job in 20 years probably you need more than 100000 bitcoin because if you are going to buy house and lot and doing some traveling ofcourse you need a lot of bitcoin so that you can start life with our doing some stable job anyway good luck

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Quote from: pocarime32 on September 02, 2016, 08:56:11 PM

I'm sure you will need many bitcoins for the next 20 years, maybe you need around 200-2000 bitcoins to retire in 20 years and you can start earning bitcoin from now.

Cost of living is not too high in my country, so I think if I have even 100 btc then I would be satisfied as it can give me good and comfortable retire life but its always good to have some more.

ajun96

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Quote from: CroIsBest on September 02, 2016, 05:09:29 PM

To retire your body from work in 20 years you should telll us from which country you are because then it is more easy to say you how much money you ned to retire yourself.I need billions of dollars to retire myself.

yeah I think the state of each user also affects how much money should you get within 20 years to come. because the cost of living in that year and in each country will be different. so you have to know the cost of living in the country and you can begin to collect bitcoin

pocarime32

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I'm sure you will need many bitcoins for the next 20 years, maybe you need around 200-2000 bitcoins to retire in 20 years and you can start earning bitcoin from now.

Doamader

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Quote from: CroIsBest on September 02, 2016, 05:09:29 PM

To retire your body from work in 20 years you should telll us from which country you are because then it is more easy to say you how much money you ned to retire yourself.I need billions of dollars to retire myself.

If you need bilions you are getting a high salarie, i do believe with something like 300-400k dollars would be enought soo considering the current value of bitcoin around 500 bitcoins, but as i expect the price to jump to 1000 dollars at 2020, soo around 300 bitcoins.

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