How many BTC needed for retirement in 10 years? - page 2.

Inwestour

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Quote from: bitzizzix on March 24, 2023, 04:52:32 PM

I don't really rely on bitcoins for my retirement because we never know what will happen to bitcoins in the future, all I do is try to keep collecting bitcoins as long as possible.
and if the future or the next 10 years bitcoin will be very expensive that's very good, and even though the future prospects of bitcoin will be bright but we have to think otherwise.
so the intent and purpose is only to collect as many bitcoins as possible for business capital, buying property or other things that can make money or add value and do it in stages when I get big profits from bitcoin. But that doesn't mean I don't continue to invest, as long as bitcoin is profitable I will continue to do it with other business goals.

Investing in bitcoin is reasonable, at least from the point of view that bitcoin will be a good protection for your funds from inflation. If you just save and save dollars, then inflation in 10 years will eat a very significant part of your savings.

But this will not happen with bitcoin, and even if it does not become very expensive, you can still save all your capital safely and increase it anyway. It will be more reliable and more profitable than any bank deposit that gave you 1% per annum, but you understand that inflation will be much higher.

Mauser

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Quote from: uknowy9999 on March 22, 2023, 03:20:24 AM

I think 10 BTC and 100 ETH would set you up for good, so once that is reached, I would stop accumulating, what is your plan?

Sounds like a good plan to me. I haven't really thought about using crypto currencies alone as my retirement money, but looking at the current values the money should be more than sufficient. Right now 10 BTC are worth around 280,000 USD, and 100 ETH are around 175,000 USD. That is more than enough for one person to live off in retirement. I read from some insurance sales person that you should try to accumulate around 300-400,000 USD for retirement. It of course depends a bit on if you own your own house or apartment where you can life rent free. Also with so much money in crypto currencies you will profit of any further increase in price, the long term trend for both BTC and ETH is positive and the prices should keep rising over the years. Once you turn 60 or 65 you wouldn't sell all your cryptos at once, you only sell a little bit every time you need money. So it could easily happen that the price is going to rise a lot in 10-20 years and will leave a lot of the coins behind for your children and grand children.

Rigon

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Quote from: uknowy9999 on March 22, 2023, 03:20:24 AM

I think 10 BTC and 100 ETH would set you up for good, so once that is reached, I would stop accumulating, what is your plan?

Now 2023
10 years later 2033

Now bitcoin price $28000(approx)
10 BTC = $280000
It is impossible to accurately predict what Bitcoin will actually do, but many experts believe that after 2030, Bitcoin will have a market cap of $500,000.
If it would possible then 10 BTC for retirement is highly enough.
10 btc will not be enough for retirement if the market price of bitcoin falls after 2030. But based on the competitive Bitcoin demand it is true that the market value of Bitcoin will increase a lot in the future.

Cantsay

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Quote from: kelechi on March 24, 2023, 11:02:13 AM

If we take into consideration that btc will reach 1 million then you will need 3 btc for retirement this includes inflation of usd

But you never can predict what the future holds, so even holding and accumulating up to 10 BTC is still a bet because something unexpected could just occur and cause the price of Bitcoin to come crashing.

So the best bet now is to keep accumulating more and also have some personal account where your fiat is been kept also, it will be a risky game to just go all in on Bitcoin.

ilovealtcoins

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Quote from: bitzizzix on March 24, 2023, 04:52:32 PM

I don't really rely on bitcoins for my retirement because we never know what will happen to bitcoins in the future, all I do is try to keep collecting bitcoins as long as possible.
and if the future or the next 10 years bitcoin will be very expensive that's very good, and even though the future prospects of bitcoin will be bright but we have to think otherwise.
so the intent and purpose is only to collect as many bitcoins as possible for business capital, buying property or other things that can make money or add value and do it in stages when I get big profits from bitcoin. But that doesn't mean I don't continue to invest, as long as bitcoin is profitable I will continue to do it with other business goals.

Yes, it is not advisable to rely on a volatile and risky asset like bitcoin for retirement. Bitcoin is only suitable as an investment for us to increase our wealth. When making a lot of money from bitcoin investment, we should diversify into safer assets like gold, and real estate for retirement. Don't just focus on bitcoin, it's too risky.

bitzizzix

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I don't really rely on bitcoins for my retirement because we never know what will happen to bitcoins in the future, all I do is try to keep collecting bitcoins as long as possible.
and if the future or the next 10 years bitcoin will be very expensive that's very good, and even though the future prospects of bitcoin will be bright but we have to think otherwise.
so the intent and purpose is only to collect as many bitcoins as possible for business capital, buying property or other things that can make money or add value and do it in stages when I get big profits from bitcoin. But that doesn't mean I don't continue to invest, as long as bitcoin is profitable I will continue to do it with other business goals.

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Quote from: uknowy9999 on March 22, 2023, 03:20:24 AM

How many BTC needed for retirement in 10 years?
----
I think 10 BTC and 100 ETH would set you up for good, so once that is reached, I would stop accumulating, what is your plan?

It will really depend on where we live, how much we need in retirement, and what are the odds that will happen to us and us. If here, for me, with that amount is enough. Especially if this is prepared for my retirement. So, this will be a very sufficient amount for the old days. And it will be great to enjoy old age. However, of course everyone has different needs, so this may have an effect.

soap94

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That's actually a good question. Correct me if I am from but you cannot get any dividend payments like with Coca-Cola stocks for example for BTC or ETH, right? So I am assuming you just need to calculate your annual expenses, then multiple by number of years you'd like to live and that's it. I personally also recommend to use BTC mixer whenever you send any crypto. A BTC mixer (for example ][banned mixer]), also known as a Bitcoin mixer or tumbler, is a tool used to enhance the privacy and anonymity of Bitcoin transactions. While it's true that Bitcoin is often considered pseudonymous rather than completely anonymous. Privacy Protection: Bitcoin transactions are recorded on a public ledger called the blockchain. Anyone can view these transactions, and with the right tools, it's possible to trace the flow of funds. A BTC mixer helps break this traceability, making it difficult for others to link your wallet to specific transactions.

Mahanton

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Quote from: TribalBob on March 24, 2023, 04:09:45 PM

it looks like 10 BTC and 100ETH is enough to keep me alive during my retirement, but behind everything it takes accurate management so that btc doesn't run out quickly if it can keep spinning and even increase, that's what I still think about if I have btc savings as my retirement capital later

The more the better right? If we do talk about realistically then i wont really be just focusing on BTC and ETH and other top altcoins if we do speak about sustaining on your retired life on which you are the ones with your wife would really be going along till the end of the years which means sustaining yourself and your wife would really be needing that long term and sustaining investment and i would really be considering in no doubt
when it comes to real estates too. As long my finances does permits then i would definitely be diversifying as much as i could because we dont know on what future holds and we dont
guarantee on where bitcoin would be ending up.

South Park

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Quote from: uknowy9999 on March 22, 2023, 03:20:24 AM

Hey guys,

so I have been buying BTC (and admittedly ETH) since October/November 2020. I have been sticking to that strategy and
even put larger amounts when there was a steep decline in a short period of time, everything on my cold wallet, nothing left on exchanges.

With prices starting to slowly rise again (not sure if I really like that, always have the feeling to never have enough), what would you think
is enough to retire in 2032? I know that nobody can tell that with certainity, but would love to hear your estimates:

I think 10 BTC and 100 ETH would set you up for good, so once that is reached, I would stop accumulating, what is your plan?

The answer will depend very heavily on several factors, like your age, life expectancy, number of family members which depend on you economically, your health, costs in your country, your expected lifestyle, inflation and the future movements on the price of bitcoin, so when you really think about you will notice it is kind of difficult to give a definite number, as 10 BTC is a good amount of money now and in the future, but for many people this is probably nowhere near enough to sustain them for that long.

TribalBob

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it looks like 10 BTC and 100ETH is enough to keep me alive during my retirement, but behind everything it takes accurate management so that btc doesn't run out quickly if it can keep spinning and even increase, that's what I still think about if I have btc savings as my retirement capital later

Oasisman

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Quote from: uknowy9999 on March 22, 2023, 03:20:24 AM

Hey guys,

so I have been buying BTC (and admittedly ETH) since October/November 2020. I have been sticking to that strategy and
even put larger amounts when there was a steep decline in a short period of time, everything on my cold wallet, nothing left on exchanges.

With prices starting to slowly rise again (not sure if I really like that, always have the feeling to never have enough), what would you think
is enough to retire in 2032? I know that nobody can tell that with certainity, but would love to hear your estimates:

I think 10 BTC and 100 ETH would set you up for good, so once that is reached, I would stop accumulating, what is your plan?

It's good to set a specific target and those target you have mentioned are pretty huge of a sum. However, if you've put enough money to your wallet and let's say you have accomplished the 10 Btc and 100ETH in just 5yrs before your retirement and then you stop from there, i think you're gonna be wasting time to add more fractions of Btc and ETH to your retirement fund.
I guess the best thing to do here is to try accumulate as much as you can until you have like 1 yr left before your retirement.

Botnake

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Quote from: uknowy9999 on March 22, 2023, 03:20:24 AM

Hey guys,

so I have been buying BTC (and admittedly ETH) since October/November 2020. I have been sticking to that strategy and
even put larger amounts when there was a steep decline in a short period of time, everything on my cold wallet, nothing left on exchanges.

With prices starting to slowly rise again (not sure if I really like that, always have the feeling to never have enough), what would you think
is enough to retire in 2032? I know that nobody can tell that with certainity, but would love to hear your estimates:

I think 10 BTC and 100 ETH would set you up for good, so once that is reached, I would stop accumulating, what is your plan?

You are not sure yet if these coins will continue to increase their price, so never limit the coins in your portfolio if you are seeing opportunities to earn. But always remember, never invest more than you can afford to lose especially in highly volatile coins. Instead, you can always try to diversify your investments with crypto and other investment assets so you can have more chances of earning and enjoy your retirement soon.

goldkingcoiner

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I would guess that around 1 BTC will be needed in the future (probably in the somewhat distant future of around 20-30 years from now) when the price of Bitcoin is over 1 million USD each. In fact, if you are happy with a 401k retirement, then half a Bitcoin would do just as nicely around that kind of price level.

However we do not know what tomorrow will bring. With the advancement of technology, especially AI, we might not need money in the future.

I am hoping for a Star-Trek kind of future. No more material needs, no more money, no more greed.

But perhaps I am being a bit too gullible about human nature... Roll Eyes

Kasabus

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Quote from: uknowy9999 on March 22, 2023, 03:20:24 AM

Hey guys,

so I have been buying BTC (and admittedly ETH) since October/November 2020. I have been sticking to that strategy and
even put larger amounts when there was a steep decline in a short period of time, everything on my cold wallet, nothing left on exchanges.

With prices starting to slowly rise again (not sure if I really like that, always have the feeling to never have enough), what would you think
is enough to retire in 2032? I know that nobody can tell that with certainity, but would love to hear your estimates:

I think 10 BTC and 100 ETH would set you up for good, so once that is reached, I would stop accumulating, what is your plan?

If you can earn more than that, then why not? The bigger the amount of your hodlings, the brighter and safer the future. But that is if crypto will never crash in the future, otherwise your whole retirement life will never be all worth it. That’s the reason why we should not only focus on crypto as we can also learn to invest with our legal tender. Just imagine, if both investments will succeed and prosper, you will eventually make the best of your retirement and even manage to help others even at your old age.

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Quote from: Marvell1 on March 22, 2023, 07:46:50 AM

In general, the more bitcoins you accumulate, the more comfortable you will feel in retirement. But I think it would be too risky to concentrate all your retirement money on a volatile and risky asset like crypto. I agree with what pooya87 said, you should diversify your assets with assets other than crypto. In case, if your crypto investment crashes and you don't diversify your assets then your retirement dreams will disappear. Don't forget that bitcoin or ETH are both very risky.

Do not settle for anything less if you are still capable to add more to it. Just accumulate crypto whenever you can. However, do not forget that crypto does not give us guarantee that they will be forever be profitable and that their prices will always be on the rise. That’s why if we can also balance our fiat accumulation with crypto, that will make us more secured in our retirement days. We can also try to consider investing into different assets aside from crypto so that if one does not work well, our retirement will never be completely affected and ruined.

kelechi

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If we take into consideration that btc will reach 1 million then you will need 3 btc for retirement this includes inflation of usd

imamusma

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Many people prepare for their old age by investing now, that's a good idea in my opinion. However, we never know what will happen in the future because we cannot predict the future. Even bitcoin which is worth $28k today may not be worth the same price in 10 years so think wisely especially about investing.

I'm also thinking about investing in old age, but I don't just think of bitcoin as my only asset of choice. Gold and land and a few other options are also good alternatives to bitcoin, and with that I can also diversify risks. About bitcoin, I think 1-3 bitcoins is a good amount for long term investment after diversifying assets. But of course we've never had the financial power to own that much in assets, so in the end do it as much as you can afford, it's better than nothing.

Dickiy

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Quote from: virtualdn on March 23, 2023, 05:21:56 PM

In 10 years one BTC may be equal to 10 today's Bitcoins in value. I'd say 2-3 BTCs will be enough for most people's retirement in 10 years. One BTC valued at $300,000 is very possible in 10 years so having $1,000,000 should be enough for anyone's retirement. I'm pretty confident BTC can reach the $1xx,xxx target in 1-2 years. After this, to the Moon!

In my opinion, no matter how much we buy bitcoin today to guarantee retirement, it is returned to lifestyle and needs, if for people who like glamor and always appear to exist with expensive things, of course, having 1000 bitcoins will not be enough and retire if you have style. life is more extravagant than what can not be imagined, in my opinion, it is necessary to adjust the calculations and budgeting requirements for retirement later and estimate the price of bitcoin as a straight line for preparing the budget for pension fund needs.
I understand that the price of bitcoin will increase in each cycle, but the price of bitcoin is also quite volatile, so it would be nice to also have other investments that provide passive income every month, even though not much is produced.

Tony116

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Quote from: hZti on March 23, 2023, 06:05:19 AM

Quote from: Tony116 on March 23, 2023, 02:43:05 AM

Bitcoin is an asset that will have a higher value if held for a long time, so accumulate as much as possible.

...
In General you should have more then one asset class. It is easy as that.

I never said just invest or hold bitcoin or crypto without diversifying because we only talk about bitcoin, and I don't want to mention other assets. In investing, diversification is extremely important, IMO. Maybe I will offend some bitcoin fanatics, but just focusing all my assets on bitcoin and nothing else is the dumbest thinking I have ever seen. Not only bitcoin, if you invest in gold too, but you also need to diversify assets other than gold, nothing in this world is absolute.

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