If your grandfather built his wealth from the ground up, I think he knows full well that investing everything in one single asset is a no go. It's good that you try and educate him as much as you can while he's still around, and while bitcoin might be a good investment it still isn't enough to put all of what you have into it just because it's trusted well enough by a lot of people.
Oftentimes, the old generation teaches us things that we did not know. This time it's different, but it's okay.
Topic: I gave investment advice to my grandfather. - page 3. (Read 834 times)
My grandfather has some wealth. Now my grandfather will invest all his wealth in Bitcoin. I told my grandfather not to invest all your wealth in Bitcoin. I suggested to my grandfather that Bitcoin not only has the potential for profit, but also the potential for loss. So you invest some wealth in Bitcoin. You don't have to sit on the street if your investment suffers.
My only question to all, was I able to give my grandfather the right advice??
Yes because it's not wise to put all your eggs in one basket. As I've said before, regardless how good the investment and profitable it seems, still, it is not wise to go all in since we don't know what lies ahead that can affect our investment negatively. The reason why diversifying is better to minimize the risk of losing all your money in just one investment that you thought can give you huge gains.My only question to all, was I able to give my grandfather the right advice??
Anyway, how knowledgeable your grandfather about Bitcoin and who introduced it to him? Because he seems confident that Bitcoin has a good future (certainly we're all hoping for that). But we don't have crystal ball to see what's going to happen as time goes by.
If one knows how to invest, the risk is always involved, and you can lose what you have invested in a particular asset. In this case, Bitcoin, since it's a volatile asset, it's a good warning sign for him.
I don't know why you are saying that you would sit on the street and make sure you invest the amount you are comfortable with losing. It's good that you recognized his "investing all of his wealth"; you should still know that it's up to him.
I don't know why you are saying that you would sit on the street and make sure you invest the amount you are comfortable with losing. It's good that you recognized his "investing all of his wealth"; you should still know that it's up to him.
I don't see any reason why you should give advice to someone if you haven't experienced it or known it. You can't give advice if you are not an investor yourself because you don't know how it works. Once you tell the person, for sure, he will ask you more questions about it.
For sure, his grandfather will get curious about it and spend some money on it to try it. I just hope that he will not go all in on it as it is very risky and he is already old.
Who told you that old people don't invest, it's a good plan to get the old people to make investment only if the resources are at their disposal. Investing in bitcoin is such a great idea with regards to the purpose of the status of the individual in question. He made clear that his grandfather was wealthy, so I think losing wouldn't hurt that bad, after all it's his grandchild that's putting everything together inother to make profits. In as much the grandfather is old, we shouldn't forget about the high volatility of the market which easily sinked down all capital invested specifically when the bear season comes. For sure, his grandfather will get curious about it and spend some money on it to try it. I just hope that he will not go all in on it as it is very risky and he is already old.
If your grandfather is very rich, I suggest that your grandfather make an eternal investment, even though your grandfather has passed away, and the merits will continue to flow to him.
I mean, because a grandfather must be very old and also over 60 years old. It's better to invest to build a place of worship or create an orphanage or other things that can benefit many people and also for your grandfather during life and also after death, I think it's much better to use the remaining wealth to invest for the hereafter, which can generate goodness and become a field of eternal reward.
By the way, I admire your grandfather for having the ambition or passion to invest in bitcoin which I think is rare for a grandfather to be interested in bitcoin and even know about it, and as I mentioned above and it was the best choice. And your grandpa can also invest in bitcoins as part of his wealth if that's what he wants and you stay by his side to help him and advise him in the long term so your grandpa doesn't think too much about or care about the volatility that there is because it can mess with his mind especially psychologically which will fatal considering your grandfather is old and prone to thoughts that make your grandfather sick.
I mean, because a grandfather must be very old and also over 60 years old. It's better to invest to build a place of worship or create an orphanage or other things that can benefit many people and also for your grandfather during life and also after death, I think it's much better to use the remaining wealth to invest for the hereafter, which can generate goodness and become a field of eternal reward.
By the way, I admire your grandfather for having the ambition or passion to invest in bitcoin which I think is rare for a grandfather to be interested in bitcoin and even know about it, and as I mentioned above and it was the best choice. And your grandpa can also invest in bitcoins as part of his wealth if that's what he wants and you stay by his side to help him and advise him in the long term so your grandpa doesn't think too much about or care about the volatility that there is because it can mess with his mind especially psychologically which will fatal considering your grandfather is old and prone to thoughts that make your grandfather sick.
if you are in good faith for this advise then I see no reason why you will need to ask these questions .
what I was thinking is that "Are you an Investor your own"? if not then this maybe a mistake because if ever this ends wrong then only your Grandfather is the loser here. and that will make you feel the guilt .
what I was thinking is that "Are you an Investor your own"? if not then this maybe a mistake because if ever this ends wrong then only your Grandfather is the loser here. and that will make you feel the guilt .
I don't see any reason why you should give advice to someone if you haven't experienced it or known it. You can't give advice if you are not an investor yourself because you don't know how it works. Once you tell the person, for sure, he will ask you more questions about it.
For sure, his grandfather will get curious about it and spend some money on it to try it. I just hope that he will not go all in on it as it is very risky and he is already old.
I shared my grandfather's investment story with everyone. Many people are happy to hear about my grandfather's bitcoin investment. Want to invest in Bitcoin even in old age. Many people also say that your grandfather is too old so it is better not to invest now. Actually there is no benefit in keeping wealth at home. It is better to put resources to some use. My grandfather is interested in investing in terms of profit and loss. I advised my grandfather to invest some assets. Everyone will pray for my grandfather that he may live long.
Many thanks to all brothers from my side. What advice should I give my grandfather? Many said the advice was good. Some brothers say that it is better not to invest in old age. My grandfather wants to invest in Bitcoin. So I will invest him some wealth in bitcoins.
Many thanks to all brothers from my side. What advice should I give my grandfather? Many said the advice was good. Some brothers say that it is better not to invest in old age. My grandfather wants to invest in Bitcoin. So I will invest him some wealth in bitcoins.
According to me, your grandfather is old and has reached the age of rest and does not have to do anything or invest more. But if your grandpa still decides to invest, then we should respect his decision, I believe your grandpa knows what he's doing with his money. Your job is to stay by his side and explain and pass on all the bitcoin knowledge you know to him. So that he is clearly aware of the risks and benefits of investing in bitcoin. I fully support your bitcoin recommendation and your grandfather's bold decision.
if you are in good faith for this advise then I see no reason why you will need to ask these questions .
what I was thinking is that "Are you an Investor your own"? if not then this maybe a mistake because if ever this ends wrong then only your Grandfather is the loser here. and that will make you feel the guilt .
what I was thinking is that "Are you an Investor your own"? if not then this maybe a mistake because if ever this ends wrong then only your Grandfather is the loser here. and that will make you feel the guilt .
My grandfather has some wealth. Now my grandfather will invest all his wealth in Bitcoin. I told my grandfather not to invest all your wealth in Bitcoin. I suggested to my grandfather that Bitcoin not only has the potential for profit, but also the potential for loss. So you invest some wealth in Bitcoin. You don't have to sit on the street if your investment suffers.
My only question to all, was I able to give my grandfather the right advice??
I think the decision you have given is correct. But did your grandfather have prior experience with Bitcoin or did he develop interest in investing in Bitcoin after hearing from you? My advice is to keep your grandfather's wealth. If you have wealth, holding onto that wealth is the greatest investment. I can't find a greater investment than wealth. Investing in Bitcoin, though profitable, is also the most risky. If your grandfather lost in investments then your grandfather may die in old age due to losses. I think it is better not to sell any of your grandfather's assets. My only question to all, was I able to give my grandfather the right advice??
I shared my grandfather's investment story with everyone. Many people are happy to hear about my grandfather's bitcoin investment. Want to invest in Bitcoin even in old age. Many people also say that your grandfather is too old so it is better not to invest now. Actually there is no benefit in keeping wealth at home. It is better to put resources to some use. My grandfather is interested in investing in terms of profit and loss. I advised my grandfather to invest some assets. Everyone will pray for my grandfather that he may live long.
Many thanks to all brothers from my side. What advice should I give my grandfather? Many said the advice was good. Some brothers say that it is better not to invest in old age. My grandfather wants to invest in Bitcoin. So I will invest him some wealth in bitcoins.
Many thanks to all brothers from my side. What advice should I give my grandfather? Many said the advice was good. Some brothers say that it is better not to invest in old age. My grandfather wants to invest in Bitcoin. So I will invest him some wealth in bitcoins.
My grandfather has some wealth. Now my grandfather will invest all his wealth in Bitcoin. I told my grandfather not to invest all your wealth in Bitcoin. I suggested to my grandfather that Bitcoin not only has the potential for profit, but also the potential for loss. So you invest some wealth in Bitcoin. You don't have to sit on the street if your investment suffers.
My only question to all, was I able to give my grandfather the right advice??
I agree in terms of giving advice on investing in bitcoins for him, your grandpa's age should be enjoying his wealth more and taking a regular approach to investing in bitcoins rather than investing his entire fortune in a big way. Let's say he will be successful in his investment, my question is are you given full access to his bitcoin assets. If not, how will he run and manage it?My only question to all, was I able to give my grandfather the right advice??
1. If yes, please give one good reason why he gave full access to you.
2. If not, what does he expect from investing in bitcoin, isn't it that the age of people who have grown old don't master technology and will have quite a hard time adapting to this.
If there is no more specific answer, then I'm afraid your grandfather will have a bad old age for the investment advice he made, not because bitcoin gave him losses but because he was unable to enjoy the returns from the investments he made.
My grandfather has some wealth. Now my grandfather will invest all his wealth in Bitcoin. I told my grandfather not to invest all your wealth in Bitcoin. I suggested to my grandfather that Bitcoin not only has the potential for profit, but also the potential for loss. So you invest some wealth in Bitcoin. You don't have to sit on the street if your investment suffers.
My only question to all, was I able to give my grandfather the right advice??
My only question to all, was I able to give my grandfather the right advice??
I don't see anything wrong with the advice you gave your grandfather, at least he can't blame you in the end.
But I am also impressed with your grandfather's courage.
I also saw in your grandfather that he was not skeptical about bitcoin, but he believed in it completely. It's like when I read that a person sold all his property and what he sold was invested in bitcoin, it's a bit similar to what my grandfather did if I look at it, and that man is now rich, I just can't remember I read or watched that article.
OP you have given right advice for your father about Bitcoin investment with two side between profit or loss, if your father keeps investing his wealth in Bitcoin actually he has understand about risk waiting for when investing in Bitcoin. But need give another advice when investing in Bitcoin never hurry up and keep waiting right time when bitcoin have lower price.
Don't push your father keep earn profit in daily day and better become long term holding although need waiting more than one year but your father wealth still increasing up.
Don't push your father keep earn profit in daily day and better become long term holding although need waiting more than one year but your father wealth still increasing up.
Can I ask you a question? If worst thing happens and your grandfather passes away, who will took the Bitcoins that your grandfather bought?
If grandfather dies after investing in bitcoins we will divide it between us. My family consists of my parents and grandfather and we three brothers and two sisters. I will share equally with my family.
Everyone pray for my grandfather that my grandfather may live long.
I guess the wealth of your grandfather is in good hands already once his time will come. Teach your family as well with regards to Bitcoin if you can.
Teaching them might be a good start for them in their own crypto investment journey instead of just giving them the Bitcoins that came from your grandfather.I'm a family oriented person (said it twice today already), so I always pray for other people a long life and so your grandfather. Take care of him and take care of yourself as well.
If grandfather managed to create some kind of fortune, then he probably knows how to manage money and most likely he understands that it is not worth investing all the money in one thing. In addition, if the grandfather wants to invest in bitcoin, then he should learn everything about the safe storage of coins. The time is still good to buy bitcoin, we can expect a bull market in the next few years, and this can bring a good profit.
You have given a very sound advise to your grandpa. He definitely runs the risk of heartbreak, if he losses all his money to the volatile crypto currency market. You should go ahead to tell your grandpa that diversification of his revenue streams should be in his line of thought. As you already know, it would be better if he first invested some money in bitcoin and subsequently in other businesses. He will only have one source of income if he invests all of his money in bitcoin, which is risky and the consequence is grave as earlier mentioned.
My question is, how old is your grandfather? Why don't you let your grandfather enjoy his last days? Why invest in old age? Instead of advising my grandfather to invest, I will try to give him a fulfilling life at the end of his life. We invest also to find a comfortable life in old age, so treat your grandfather well. Because when you have a lot of money, you can't take it with you when you die.
Grandfather will be about 70 years old. I love and care for my grandfather very much. Grandfather understandably wants to invest in Bitcoin. The value of 1 rupee today and 1 rupee in the future is very different. This is what we call inflation. Since Bitcoin is a volatile digital cryptocurrency currency. So my grandfather got interested in investing in Bitcoin. I fully explained to my grandfather that Bitcoin has both profit and loss.
I don't know how high inflation is in your country, but I do know that if your grandfather lived for 70 years and wasn't killed by inflation, there's no reason to worry about inflation when he's 70. The person who should be concerned about inflation right now is you, not your grandfather, unless you're thinking of inheriting that money.
He can still invest, but investment doesn't mean too much for a person whose need right now is health, enjoying life with grandchildren and relatives.
My question is, how old is your grandfather? Why don't you let your grandfather enjoy his last days? Why invest in old age? Instead of advising my grandfather to invest, I will try to give him a fulfilling life at the end of his life. We invest also to find a comfortable life in old age, so treat your grandfather well. Because when you have a lot of money, you can't take it with you when you die.
Grandfather will be about 70 years old. I love and care for my grandfather very much. Grandfather understandably wants to invest in Bitcoin. The value of 1 rupee today and 1 rupee in the future is very different. This is what we call inflation. Since Bitcoin is a volatile digital cryptocurrency currency. So my grandfather got interested in investing in Bitcoin. I fully explained to my grandfather that Bitcoin has both profit and loss.
I don't know how high inflation is in your country, but I do know that if your grandfather lived for 70 years and wasn't killed by inflation, there's no reason to worry about inflation when he's 70. The person who should be concerned about inflation right now is you, not your grandfather, unless you're thinking of inheriting that money.
He can still invest, but investment doesn't mean too much for a person whose need right now is health, enjoying life with grandchildren and relatives.
Encouraging your grandfather to do his own research and consult with a financial advisor can also be helpful.
Unless you are a Financial advisor and the advice is asked for, you should be cautious giving out financial advice to people especially your family members and even friends. Allow people ask you for advice before you give them at their own risk, so they value it, not giving people advice especially the advice around their finance when they did not really ask for you to advice them. It is so so your advice does not become useless or less useful then. If you give advice to people when did not ask you for it, you can be childishly blamed by them should something happen.
Hi there,
It's great that you're thinking about your grandfather's financial future and trying to offer him sound advice. As you said, investing in Bitcoin can be a risky endeavor, and it's important to consider the potential for both gains and losses. Diversification is often recommended as a strategy to reduce risk, so investing a portion of his wealth in Bitcoin rather than all of it may be a wise decision.
It's also important to remember that everyone's financial situation is unique and there is no one-size-fits-all answer. So, the decision to invest in Bitcoin or any other asset should be based on a careful assessment of one's financial goals, risk tolerance, and investment horizon. Encouraging your grandfather to do his own research and consult with a financial advisor can also be helpful.
Best of luck to you and your grandfather!
It's great that you're thinking about your grandfather's financial future and trying to offer him sound advice. As you said, investing in Bitcoin can be a risky endeavor, and it's important to consider the potential for both gains and losses. Diversification is often recommended as a strategy to reduce risk, so investing a portion of his wealth in Bitcoin rather than all of it may be a wise decision.
It's also important to remember that everyone's financial situation is unique and there is no one-size-fits-all answer. So, the decision to invest in Bitcoin or any other asset should be based on a careful assessment of one's financial goals, risk tolerance, and investment horizon. Encouraging your grandfather to do his own research and consult with a financial advisor can also be helpful.
Best of luck to you and your grandfather!
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