Investing into Bitcoin as self pension

jasonjm

hero member

Activity: 1232

Merit: 524

Quote from: Marvelockg on March 08, 2024, 11:21:42 AM

It's normal for people to make plans for retirement and before I got to know about crypto and Bitcoin investment, What was a normal routine for most business men that are self employed around me was to use their period of active service in building fleets of houses they would normally give out on rentals which after they're at the stage of retirement and are off the active service would serve to take care of all there upkeep till they grow old.

From what I've come to see, such investment has lots of disadvantages and limitations due to unforseen circumstances like war and government policies that could make the cite of the buildings inhabitable thereby making the investment unprofitable and sometimes most men at the point of retirements, discovering that they can't get access to all they've invested into become traumatized in the process.

Investing into Bitcoin is good and for the time being, we can actually make a ten year speculation on the fact that it will still remain a valuable and profitable investment but the question here is;

Is it wise and realistic for someone in his early twenties to set up Bitcoin as a retirement plan such that he continues accumulating Bitcoin from this time till he gets to his retirement age?

Investment in Bitcoin is a perfect option for the future, but you should not put all your savings into Bitcoin. If you plan to invest a chunk of your money into Bitcoin on DCA, you are doing the right thing. By the time you touch 50, you will have more money than your fellow countrymen. Diversify your investment to offline assets such as gold, silver, property, etc., because this will give you a cushion against BTC price volatility. People in your community are doing the right thing. You should also invest some of your savings into property, and buy a house or an apartment. It is not wise to put all your money into crypto investment because of the rate of fluctuation we see in Bitcoin.

isladeego

newbie

Activity: 7

Merit: 1

Traditional property renting has its own drawbacks. Though it's still a young and unstable market, bitcoin has potential. Flexibility is essential while you're in your twenties! For a well-rounded retirement strategy, think about investing in a combination of safer long-term investments.

Vladv26

full member

Activity: 321

Merit: 102

It's a great idea to consider investing in Bitcoin as a retirement plan,but the golden rule, as with all investments, is not never keep all your eggs in one basket. I think setting a certain percentage of your savings to go towards Bitcoin investment, while also adding multiple other investments to your portfolio is the safest way to go about this.

Yes, Bitcoin has been very profitable so far, in the last 15 years but it's impossible to predict what's going to happen in the future especially if we are talking about your example with a person in his twenties. Technology is advancing fast and you can never know what's going to work out 20-30 years from now.

Finestream

hero member

Activity: 3010

Merit: 604

Quote from: Crypto Library on March 11, 2024, 01:06:47 AM

Quote from: Marvelockg on March 08, 2024, 11:21:42 AM

Is it wise and realistic for someone in his early twenties to set up Bitcoin as a retirement plan such that he continues accumulating Bitcoin from this time till he gets to his retirement age?

Bitcoin is the best cryptocurrency for investment because it is the most secure and trusted coin It is possible to gain good profit by investing in it for long term, but we must not forget that Bitcoin also has risks. Bitcoin has the high volatilities. Just because the price of Bitcoin is doing well now but there is no guarantee that the price of Bitcoin will always be good.
And I think pension is very important in people's life and that is often needed in emergency moments. So I would say invest only as much funds as you can afford to lose or hold in Bitcoin investment. Because there may come a time when your bitcoins may be sold at a loss instead of a profit due to your situation.

I think before we invest into something, we have to be aware about its risks as well. And investing into bitcoin could create a lot of risks, that’s why we don’t have to limit our retirement investment into bitcoin only. We need to diversify our investment as early as possible so that we will reap huge amount of profits by the time of our retirement. Let’s say we can reserve 5% of our monthly salary into bitcoin and 5% into real estate or stocks, that way by the time we retire, we can say we will have a secured amount of pension funds.

eightdots

hero member

Activity: 756

Merit: 701

Quote from: bitzizzix on March 10, 2024, 01:15:21 PM

Quote from: CageMabok on March 10, 2024, 09:56:11 AM

Quote from: adiksau0414 on March 10, 2024, 07:10:58 AM

This idea also comes up in my mind especially now bitcoin is going green. I hope someday i can invest more in bitcoin have it as my investment for the future. We cant predict what might happened in the future but bitcoin is the most popular so it will not be neglected or be out in crypto trading.

In crypto trading, Bitcoin is still the first to be seen by everyone who works as a trader and also as an investor. So now there are quite a lot of people who have started to believe in Bitcoin because they know that Bitcoin does have a pretty good future as an investment asset that needs to be taken into account and owned for the long term. If you really want to invest in Bitcoin in the future in larger amounts, you can start now slowly with minimal capital without the need to force yourself to immediately buy large amounts if your capabilities are still quite limited.

Bitcoin is a very promising investment if done in the long term because it can minimize existing risks and also eliminate fear or panic when a downturn occurs, because after all Bitcoin will always fluctuate.
So long term is the best option to get good profits, and it's true, you should do it according to your means and you can also make periodic purchases when you have more money without having to force yourself and buy in large quantities.

Usually this idea comes to mind when the price of Bitcoin starts to increase. Those who have previously adopted this idea and invested are making profits with these increases. We should not be late to start some things.

Bitcoin is a very preferred investment method and Bitcoin has not caused any losses in the long run. Even in the current rise, Bitcoin continues to bring profit to its investors.

Bitcoin's volatile structure is important in terms of providing opportunities for investors. In this way, opportunities may arise to invest in Bitcoin.

Crypto Library

hero member

Activity: 826

Merit: 753

Living Life with Hemophilia🤡

Quote from: Marvelockg on March 08, 2024, 11:21:42 AM

Is it wise and realistic for someone in his early twenties to set up Bitcoin as a retirement plan such that he continues accumulating Bitcoin from this time till he gets to his retirement age?

Bitcoin is the best cryptocurrency for investment because it is the most secure and trusted coin It is possible to gain good profit by investing in it for long term, but we must not forget that Bitcoin also has risks. Bitcoin has the high volatilities. Just because the price of Bitcoin is doing well now but there is no guarantee that the price of Bitcoin will always be good.
And I think pension is very important in people's life and that is often needed in emergency moments. So I would say invest only as much funds as you can afford to lose or hold in Bitcoin investment. Because there may come a time when your bitcoins may be sold at a loss instead of a profit due to your situation.

Vinaa77

sr. member

Activity: 1344

Merit: 311

Quote from: JayTrain on March 10, 2024, 02:48:38 PM

I believe that incorporating Bitcoin into my retirement plan could be a good idea. Considering its potential long-term growth, I see it as an additional opportunity to ensure financial stability in the future. However, I am aware that cryptocurrencies, including Bitcoin, can be highly volatile. Nonetheless, when looking at Bitcoin's historical chart, it has consistently shown growth over time. So, investing in it for my retirement seems like a good idea.

By choosing to include Bitcoin in your retirement fund planning, of course this is a very good thing, we can see that from the time it was first issued until now it continues to experience very good development and it would be very profitable if we could collect it to prepare for our good future, but because Cryptocurrencies are very fluctuating, of course we have to really understand them well so as not to make mistakes in collecting them and if we are able to collect them consistently until our retirement age, we will be able to gain profits in the future and also be able to enjoy our old age happily. have no financial problems.

Natsuu

full member

Activity: 1064

Merit: 158

★Bitvest.io★ Play Plinko or Invest!

Well it's a bold move with its share of risks. Bitcoin's price can be all over the place, making it a bit unpredictable. To play it safer, think about spreading your investments across different things like stocks or real estate. Diversifying helps cushion the impact of Bitcoin's ups and downs, offering a more stable approach to securing your financial future

South Park

hero member

Activity: 2856

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: Marvelockg on March 08, 2024, 11:21:42 AM

It's normal for people to make plans for retirement and before I got to know about crypto and Bitcoin investment, What was a normal routine for most business men that are self employed around me was to use their period of active service in building fleets of houses they would normally give out on rentals which after they're at the stage of retirement and are off the active service would serve to take care of all there upkeep till they grow old.

From what I've come to see, such investment has lots of disadvantages and limitations due to unforseen circumstances like war and government policies that could make the cite of the buildings inhabitable thereby making the investment unprofitable and sometimes most men at the point of retirements, discovering that they can't get access to all they've invested into become traumatized in the process.

Investing into Bitcoin is good and for the time being, we can actually make a ten year speculation on the fact that it will still remain a valuable and profitable investment but the question here is;

Is it wise and realistic for someone in his early twenties to set up Bitcoin as a retirement plan such that he continues accumulating Bitcoin from this time till he gets to his retirement age?

As long as this is not your only plan then that is OK, this way even if for some reason your bitcoin investment failed you will still have a backup plan that you can use to have a decent retirement, however if your investment were to flourish, which is the most likely outcome if you can remain invested in bitcoin that long, then you could retire comfortably and maybe even retire way younger than your peers, so instead of retiring once you are sixty or seventy you could do so at least a decade earlier.

mirakal

legendary

Activity: 3108

Merit: 1290

Leading Crypto Sports Betting & Casino Platform

Quote from: CageMabok on March 10, 2024, 09:56:11 AM

Quote from: adiksau0414 on March 10, 2024, 07:10:58 AM

This idea also comes up in my mind especially now bitcoin is going green. I hope someday i can invest more in bitcoin have it as my investment for the future. We cant predict what might happened in the future but bitcoin is the most popular so it will not be neglected or be out in crypto trading.

In crypto trading, Bitcoin is still the first to be seen by everyone who works as a trader and also as an investor. So now there are quite a lot of people who have started to believe in Bitcoin because they know that Bitcoin does have a pretty good future as an investment asset that needs to be taken into account and owned for the long term. If you really want to invest in Bitcoin in the future in larger amounts, you can start now slowly with minimal capital without the need to force yourself to immediately buy large amounts if your capabilities are still quite limited.

Bitcoin has definitely build its own foundation and turn it into success when majority of the countries are still not supporting bitcoin, so how much more if these countries will suddenly become more open minded and interested about bitcoin. Bitcoin will certainly become more popular and will be more valuable when it comes to its price value.

Investing at this early is actually the best decision one can make. If you can take 5% from your monthly earnings, that would be massive already after 10 or 20 years. However, don’t just put all your eggs in a single basket. Diversify. You can be more secured financially and emotionally when at your retirement age, you will receive million profits out from your multiple investments.

The Cryptovator

legendary

Activity: 2226

Merit: 2169

Need PR/CMC & CG? TG @The_Cryptovator

The idea of accumulating Bitcoin for retirement is good, but it depends on many circumstances. If you aren't financially stable, then it's very hard to hold your Bitcoin until retirement. Because sometimes we need some emergency funds, like if we become sick, we need funds. In such a case, if you can handle touching your holdings, then accumulating bitcoin for retirement is the best choice. Those of us who are familiar with Bitcoin can simply do it by following the DCA strategy, even if we can't accumulate at once. So in summary, based on the situation, you have to decide what is best for you. Investing in other things hasn't been very profitable lately.

Adams0001

full member

Activity: 420

Merit: 152

Quote from: Mate2237 on March 08, 2024, 03:51:23 PM

Using bitcoin has a retirement investment is a good idea, but you have to start when you are still in serving so that before you retired from the service your bitcoin has grown to a reasonable amount and you will be very happy to see your bitcoin. Many people has not realize that investing in bitcoin will help them in the future so there are still keeping Money in the analog way and not in the digital ecosystem. Bitcoin is the best place to keep your retirement funds.

You are correct; before you retired, you should have started investing in bitcoin so that you could gain some experience and possibly profit if the price rises. Using bitcoin as a retirement investment is a very good idea because you will profit from it and you will not be concerned about anything; you will have time to focus on your investment and not think about anything since you have retired. When people talk about bitcoin on a daily basis, I become excited and believe the coin more, since if people are not benefiting from something, they will not call it names. and invite many people to try and invest in bitcoin. I will continue to introduce people to Bitcoin if they are interested to invest there funds with it, because some will just be saying they will invest but they won't because they are scared to risk there money in anything that engage in online.

JayTrain

full member

Activity: 1092

Merit: 105

Sugars.zone | DatingFi - Earn for Posting

I believe that incorporating Bitcoin into my retirement plan could be a good idea. Considering its potential long-term growth, I see it as an additional opportunity to ensure financial stability in the future. However, I am aware that cryptocurrencies, including Bitcoin, can be highly volatile. Nonetheless, when looking at Bitcoin's historical chart, it has consistently shown growth over time. So, investing in it for my retirement seems like a good idea.

Magic-Money

jr. member

Activity: 357

Merit: 3

Chainjoes.com

Bitcoin investment is the best, mostly for a long term holding, which is previous history price of Bitcoin show that in the near future Bitcoin price increases more than the current market price. Hence Bitcoin investment for a pension is a really good idea for a financial freedom wealth creation.

Zoomic

sr. member

Activity: 420

Merit: 252

My post made philipma1957 wear signature

Quote from: CageMabok on March 10, 2024, 09:56:11 AM

Quote from: adiksau0414 on March 10, 2024, 07:10:58 AM

This idea also comes up in my mind especially now bitcoin is going green. I hope someday i can invest more in bitcoin have it as my investment for the future. We cant predict what might happened in the future but bitcoin is the most popular so it will not be neglected or be out in crypto trading.

In crypto trading, Bitcoin is still the first to be seen by everyone who works as a trader and also as an investor. So now there are quite a lot of people who have started to believe in Bitcoin because they know that Bitcoin does have a pretty good future as an investment asset that needs to be taken into account and owned for the long term. If you really want to invest in Bitcoin in the future in larger amounts, you can start now slowly with minimal capital without the need to force yourself to immediately buy large amounts if your capabilities are still quite limited.

If he can start with a small capital and still maintain thesame level of consistency, then he will gain from his investment. It is even adviceable that he begins his investment using the Dollar Cost Averaging method as a first timer so as to reduce his risks. Bitcoin investment is profitable when you can hold for very long period of time. The essence of holding for a long period of time is so the value of your investment can appreciate due to the fluctuations in the Bitcoin price.

Quote from: Out of mind on March 10, 2024, 10:53:47 AM

Of course Bitcoin is an excellent source of investment, and you can get a lot of money profit from it. But you have to keep in mind that you should not only invest in Bitcoin, but you should find other things where you can earn regularly.

In order to get value for your investment, you must be willing to allow it grow without withdrawing from it unnecessarily. The only way to achieve this is by having another source of income that will take care of your daily needs. Bitcoin no doubt has the potential of taking care of these needs but there are still days we witness Bitcoin price crash, will you withdraw at a loss to take care of your daily needs? Bitcoin investment is a profitable but high risk investment therefore, if you must invest, you invest right.

Agbe

hero member

Activity: 854

Merit: 1246

This topic remind me of a poem title which I loved most in those days "A Government Driver on his Retirement" by Chibuike Onu. The driver was very happy in his retirement because he would not go to work early morning again and now he is a free man. But one thing I discovered from the poet, the driver didn't celebrate the part that he has saved enough money for his retirement but was only celebrating with merriment with friends and families. And at the end he has no investment but was sent back the society to continue from his childhood hustle. And that is why Bitcoin has come to this generation to aid the age group to liberate them from financial freedom after when the government has given them their retirement letters. They should invest in Bitcoin and enjoy their retirement with the Bitcoin investment.

bitzizzix

sr. member

Activity: 2366

Merit: 448

Play Bitcoin PVP Prediction Game

Quote from: CageMabok on March 10, 2024, 09:56:11 AM

Quote from: adiksau0414 on March 10, 2024, 07:10:58 AM

This idea also comes up in my mind especially now bitcoin is going green. I hope someday i can invest more in bitcoin have it as my investment for the future. We cant predict what might happened in the future but bitcoin is the most popular so it will not be neglected or be out in crypto trading.

In crypto trading, Bitcoin is still the first to be seen by everyone who works as a trader and also as an investor. So now there are quite a lot of people who have started to believe in Bitcoin because they know that Bitcoin does have a pretty good future as an investment asset that needs to be taken into account and owned for the long term. If you really want to invest in Bitcoin in the future in larger amounts, you can start now slowly with minimal capital without the need to force yourself to immediately buy large amounts if your capabilities are still quite limited.

Bitcoin is a very promising investment if done in the long term because it can minimize existing risks and also eliminate fear or panic when a downturn occurs, because after all Bitcoin will always fluctuate.
So long term is the best option to get good profits, and it's true, you should do it according to your means and you can also make periodic purchases when you have more money without having to force yourself and buy in large quantities.

pawanjain

hero member

Activity: 2646

Merit: 713

Nothing lasts forever

Quote from: Marvelockg on March 08, 2024, 11:21:42 AM

It's normal for people to make plans for retirement and before I got to know about crypto and Bitcoin investment, What was a normal routine for most business men that are self employed around me was to use their period of active service in building fleets of houses they would normally give out on rentals which after they're at the stage of retirement and are off the active service would serve to take care of all there upkeep till they grow old.

From what I've come to see, such investment has lots of disadvantages and limitations due to unforseen circumstances like war and government policies that could make the cite of the buildings inhabitable thereby making the investment unprofitable and sometimes most men at the point of retirements, discovering that they can't get access to all they've invested into become traumatized in the process.

Investing into Bitcoin is good and for the time being, we can actually make a ten year speculation on the fact that it will still remain a valuable and profitable investment but the question here is;

Is it wise and realistic for someone in his early twenties to set up Bitcoin as a retirement plan such that he continues accumulating Bitcoin from this time till he gets to his retirement age?

Yes ofcourse, I would say bitcoin would be in fact a great retirement option because of it's intrinsic value.
Over the long term, bitcoin has proven to be one of the greatest assets to hold due to which I have myself decided to hold bitcoin for a long term.
If things go well then I will be able to hold my bitcoins untile retirement and probably retire early out of it.

wiss19

sr. member

Activity: 2072

Merit: 337

Quote from: Marvelockg on March 08, 2024, 11:21:42 AM

Is it wise and realistic for someone in his early twenties to set up Bitcoin as a retirement plan such that he continues accumulating Bitcoin from this time till he gets to his retirement age?

Why not? I have seen and read a lot of stories where people have started investing in Bitcoin when they are still in their early 20s and they seem to be doing great with the process. All you need to do is save any money that you can, like cut down unnecessary expenses that you know wouldn't have an effect on your personal life and routine, and invest that money using the DCA method in Bitcoin either weekly, monthly, or bi-monthly, etc.

A mistake that most people make is that they start investing every single penny in Bitcoin, even the money that they need for other things, some would even sell valuable items or properties to invest the money in Bitcoin but I never recommend that because one should only invest money that they can spare for an unexpected amount of time because you never know what might happen in the market next, we can only make predictions.

Out of mind

full member

Activity: 420

Merit: 200

I like to treat everyone as a friend 🔹

Of course Bitcoin is an excellent source of investment, and you can get a lot of money profit from it. But you have to keep in mind that you should not only invest in Bitcoin, but you should find other things where you can earn regularly. So you should always plan for Bitcoin investment as well as any alternative that you can expect good from. So you start a business that will pay you besides bitcoin investment. If you invest everything in crypto, then you can definitely face a lot of losses if the market goes into a lot of dumping. That is why you should plan more and invest as much as you can afford to lose.

Topic: Investing into Bitcoin as self pension (Read 694 times)