How many bitcoins do I need to retire in 20 years? - page 99.

Adam1395

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Quote from: pitham1 on December 26, 2015, 06:16:38 AM

Quote from: keithers on December 25, 2015, 02:58:23 AM

Quote from: QueenW on December 25, 2015, 12:20:32 AM

I say 50 bitcoins will get you by retirement after huge price increases.

Say bitcoin price raises to 10,000 each

You will have $500,000

You can retire with that much money if you live frugally, and have no fixed expenses.

You can't retire with 500k, no way, no how

$500000 is a great amount to retire having a total net-worth of that kind of money is a big accomplishment, according to me that kind of money is exactly awesome for someone retiring in his 60's and targeting to live to an age of 100 only

gkv9

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Quote from: keithers on December 25, 2015, 02:58:23 AM

Quote from: QueenW on December 25, 2015, 12:20:32 AM

I say 50 bitcoins will get you by retirement after huge price increases.

Say bitcoin price raises to 10,000 each

You will have $500,000

You can retire with that much money if you live frugally, and have no fixed expenses.

You can't retire with 500k, no way, no how

LMAO, what???
Did you just say one can't retire sitting on $500k???
Do you even know how much BTC can you buy with $500k at current rates???
And even if your monthly expense is $1k, which means yearly expense goes to $12k, then you still have 42 years roughly which you can easily live doing nothing...

pitham1

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Quote from: keithers on December 25, 2015, 02:58:23 AM

Quote from: QueenW on December 25, 2015, 12:20:32 AM

I say 50 bitcoins will get you by retirement after huge price increases.

Say bitcoin price raises to 10,000 each

You will have $500,000

You can retire with that much money if you live frugally, and have no fixed expenses.

You can't retire with 500k, no way, no how

You may be able to do it, if you live in a third world country.
You still have to invest $500k and get an annuity, but it can be done.

azguard

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Quote from: Amph on December 25, 2015, 03:05:22 AM

Quote from: keithers on December 25, 2015, 02:58:23 AM

Quote from: QueenW on December 25, 2015, 12:20:32 AM

I say 50 bitcoins will get you by retirement after huge price increases.

Say bitcoin price raises to 10,000 each

You will have $500,000

You can retire with that much money if you live frugally, and have no fixed expenses.

You can't retire with 500k, no way, no how

well you can, you said it right it depend on your lifestyle, there are people with no family, and no heavy expenses, they can live with 5k per year

so 10 btc as it is right now, those people can retire easily with 50-100 btc

yea but people with family will have to count with how many members they have if four like in my case then from 200-400

strayanbit

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I guess it depends where you live.. if you live in Australia, western europe or canada where the cost of living is fairly high, at current prices you would need (i guess) around 1500-2000.
If you are eligible for a pension, obviously you could make do with much less..
If you moved to a developing country, you could probably retire for 20% of that... but then you need a lot more medical care as you age, and what would be the point of throwing away free healthcare?
Anyway, Happy holidays everyone!

Amph

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Quote from: keithers on December 25, 2015, 02:58:23 AM

Quote from: QueenW on December 25, 2015, 12:20:32 AM

I say 50 bitcoins will get you by retirement after huge price increases.

Say bitcoin price raises to 10,000 each

You will have $500,000

You can retire with that much money if you live frugally, and have no fixed expenses.

You can't retire with 500k, no way, no how

well you can, you said it right it depend on your lifestyle, there are people with no family, and no heavy expenses, they can live with 5k per year

so 10 btc as it is right now, those people can retire easily with 50-100 btc

keithers

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Quote from: QueenW on December 25, 2015, 12:20:32 AM

I say 50 bitcoins will get you by retirement after huge price increases.

Say bitcoin price raises to 10,000 each

You will have $500,000

You can retire with that much money if you live frugally, and have no fixed expenses.

You can't retire with 500k, no way, no how

keithers

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Activity: 1456

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This is the land of wolves now & you're not a wolf

I think it depends on what type of lifestyle you want to live. If you want to be living 5 star, then you will probably need thousands of bitcoins.

ridery99

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Quote from: Blue_Tiger73 on December 24, 2015, 11:58:29 PM

Quote from: tn211 on December 24, 2015, 05:32:37 PM

Don't invest in just bitcoin. Invest in other ventures too.
The saying "Don't bet all on 1 horse, is there for a reason."

Exactly. You never know what's going to happen to Bitcoin. You should keep other things like fiat and gold, as well as bitcoin.

Bitcoin will replace fiat in the future.

QueenW

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I say 50 bitcoins will get you by retirement after huge price increases.

Say bitcoin price raises to 10,000 each

You will have $500,000

You can retire with that much money if you live frugally, and have no fixed expenses.

Blue_Tiger73

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Quote from: tn211 on December 24, 2015, 05:32:37 PM

Don't invest in just bitcoin. Invest in other ventures too.
The saying "Don't bet all on 1 horse, is there for a reason."

Exactly. You never know what's going to happen to Bitcoin. You should keep other things like fiat and gold, as well as bitcoin.

tn211

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Don't invest in just bitcoin. Invest in other ventures too.
The saying "Don't bet all on 1 horse, is there for a reason."

HostSurf

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If there would be a interest account by then, i think 200 would do.
With an interest model i mean you earn interest over your bitcoin/capital.

if there is no, then go for 400 or more.

bitlancr

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I calculate to have around 300 with 2017. Then I will sell (rom 2030) 30 bitcoin every year for costs and spending.
So a price of 5k would be great, which would give me 50K on a yearly basis.

praprata

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I would go with 1000 bitcoins.
If you don't want to work ever and still have a very wealth pension, collect even more bitcoins.

Amph

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Quote from: Bitfirm on December 24, 2015, 09:29:02 AM

Actually in 20 years it might be as few as ONE bitcoin

i doubt 1 bitcoin will be worth 1M in only 20 years, those crazy value will only be true, if ever, in the fee era not before it, very unlikely, i would not bet on 100k in 20 years let alone 1M

EdenHazard

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Quote from: Alley on April 28, 2014, 12:04:32 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?

is like guessing the price of bitcoin the next 20 years, how many you need depends on the price of bitcoin today and 20 years later, I would guess that you need bitcoin in large quantities, about 1000 bitcoin, to live a normal and comfortable, you need approximately $ 400,000

Bitfirm

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Actually in 20 years it might be as few as ONE bitcoin

praprata

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Quote from: zetaray on April 29, 2014, 05:50:00 AM

If it is retirement money we are talking about, I would not invest too much in bticoins. May be 1% to 3% of your wealth. Doesn't seem that save at the moment.

I agree if you need this for your old days invest 5% of lower. Use the rest of your money for investments in real estate or long term bonds.
This has been proven succesfully in the long term by researchers.

HarryKPeters

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Quote from: diodio5 on December 24, 2015, 08:13:08 AM

Quote from: HWoodrow on December 24, 2015, 07:04:31 AM

Quote from: Alley on April 28, 2014, 12:04:32 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?

Main rule is to invest what you can afford to lose. Then, if you think that price whitin 20 years will be more higher than now, invest. 1 BTC-2 BTC are the same thing in the end. If you have a passionate idea about BTC, you have to believe about it.

yeah you right, before investing you should know first the risk will occur, so that if you lose, you will not be frustrated,
I think bitcoin has a small risk

Nice one. Since bitcoin is a way of saving and investing too, it did not occur to me it can also go downhill and you lose both your savings aswell your investments.

So yeah save/invest what you can afford to lose. Nothing more.

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