Retiring on bitcoin - page 2. | Bitcointalksearch.org

Asuspawer09

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Quote from: CryptoHFs on July 15, 2023, 03:21:42 PM

How many bitcoins does a person need to retire, what is the cashout plan and why?

It would just depend on you since most of the investors are planning to HODL their Bitcoin in the long term, so I guess you could probably make it as a retirement plan or something like that but since its a volatile market you cannot expect that the market has already skyrocketed the time you retire, You could probably make a profit or miss the opportunity. In my opinion, you could make Bitcoin your investment but not a retirement thing since this is not a guaranteed cashout like some kind of insurance where you save money then you could just use it when you get old plus you gain some kind of interest. Bitcoin is a risky investment compared to some insurance agency stuff.

For me, you should make Bitcoin something like a bet since even though Bitcoin is a great investment and most people are making trading daily as a source of income, only invest money that you could afford to lose. Also, you might end up selling your Bitcoin at an unfair price if you're going to sell it on your retirement, its better if you're going to watch the market and sell if the market skyrockets.

Sexylizzy2813

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Quote from: CryptoHFs on July 15, 2023, 03:21:42 PM

How many bitcoins does a person need to retire, what is the cashout plan and why?

When you talk about how many Bitcoin one need to have before retirement is like you saying you need to a certain amount of money before retiring. Like can you stop yourself from making money if you see the means of getting it non-stop?
To me I don't think there's a cash out plan on this, is really tempting to quit making cash, even if you retire there's a possibility that you might handle things to someone you trust. If I have let's say 2.5 BTC I don't think it would make me retire and I can't stop making it go higher.

dansus021

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first of all bitcoin price is not stable and I know the price of crypto in the long run is always UP tho for retire you need the money on monthly basis meaning you need to withdraw on bear market.

If you want to retiring on bitcoin just buy it at bear market like this take profit couple of dollar when the market is at bullis or All time high and then put the money on dividend stock so when crypto bear market exist you can still live from dividend stock and even buy more bitcoin or altcoin with staking so you can grow your money.

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Quote from: CryptoHFs on July 15, 2023, 03:21:42 PM

How many bitcoins does a person need to retire, what is the cashout plan and why?

It depends on your demand and where you live.

If you are living in a country which has very high expense like developed countries, Japan, the USA., England, etc. you will need more bitcoin, 1 bitcoin is not enough.
If you are living in a developing country or a poor country, 1 bitcoin is more than enough if you don't have too high demands for luxury things in your life.

Additionally, it depends on when you retire, next year, next 8 years (2 halvings) or next 16 years (4 more halvings). Assume next 4 halvings, Bitcoin has a price such as $300,000 or $400,000, if you have 1 bitcoin, it is enough for retirement in many countries.

suzanne5223

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Quote from: CryptoHFs on July 15, 2023, 03:21:42 PM

How many bitcoins does a person need to retire, what is the cashout plan and why?

You can have as many as you want because what determines the amount of Bitcoin you need to retire is the level of your earning or income and geo-location but having a whole Bitcoin out of the 21 million coins is never a bad idea base on the whale accumulation and FOMO that will happen after the Bitcoin ETF is accepted.
Having said that, the dream of most Bitcoiner is to have a whole BTC but if you can afford more if you can acc

robelneo

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Quote from: CryptoHFs on July 15, 2023, 03:21:42 PM

How many bitcoins does a person need to retire, what is the cashout plan and why?

This is subjective and it varies and depends on every person, the question should not be what a person needs but how many Bitcoin you need to retire, on people living in a third world 5 to 10 Bitcoin is good if the exchange rate is at the current price, but for those with a high standard of living like those living in Europe and the US it could be higher and it depends on the age if you are a senior then you don't need that big number of Bitcoin but if you are still young you need more.

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Quote from: CryptoHFs on July 15, 2023, 03:21:42 PM

How many bitcoins does a person need to retire, what is the cashout plan and why?

This has to be a well thought out plan otherwise, it just might not work as Bitcoin is considered to be one of the most volatile assets right now so you have to be very careful with investing the entirety of the retirement fund in Bitcoin. At best, you'd want to use only a percentage of it to buy Bitcoin. Buying and holding bitcoin is key but you'd have to remember that participating on the speculative side of things.

- How many? Depends on individual goal.
- Cashout plan is also based on individual goal.

There's no one size fit all in this kind of things.

TimeTeller

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Quote from: uneng on July 15, 2023, 04:38:52 PM

For how long are you going to invest in BTC until retiring yourself? How much $ are you going to invest every fixed periods of time? Will the investment be made every week, month or once in a year? How much does a retired person has as monthly income to live with dignity in your country?

Those are essential informations you must provide before we can start talking about this subject. And they are really the essential ones, because there are extra factors we can't predict for sure how they will impact on a retirement BTC plan futurely, especially regards BTC price's volatility.

This topic is very subjective as there are many factors in play when it comes to retirement.
How many years from now is your retirement? What kind of living you are looking forward to when you retire?
Just couple of questions that you need to ask yourself. But you need to remember, you should have other tangible assets that you can fall back into.
Because this market has uncertainties and we can't fully rely on this as the sole source of your retirement savings.

uneng

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For how long are you going to invest in BTC until retiring yourself? How much $ are you going to invest every fixed periods of time? Will the investment be made every week, month or once in a year? How much does a retired person has as monthly income to live with dignity in your country?

Those are essential informations you must provide before we can start talking about this subject. And they are really the essential ones, because there are extra factors we can't predict for sure how they will impact on a retirement BTC plan futurely, especially regards BTC price's volatility.

EFS

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Quote from: CryptoHFs on July 15, 2023, 03:21:42 PM

How many bitcoins does a person need to retire, what is the cashout plan and why?

It depends on the location heavily. If you want to live in the US when you retire then 10 BTC wouldn't be enough but if you live in Türkiye 10 BTC is more than enough with right moves.
Your expected life standards also affect this hypotethical number. If you are someone who lives in luxury, you should own a lot more coins. Based on the future price of Bitcoin at $1 million, 10 BTC would probably be enough for you to live and die in a high standard of living. If you live an average life, you can retire with much less coins.
Of course these are all assumptions, there is no guarantee that there will be Bitcoin tomorrow, just like there is no guarantee of anything in life.

Ojima-ojo

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Quote from: CryptoHFs on July 15, 2023, 03:21:42 PM

How many bitcoins does a person need to retire, what is the cashout plan and why?

The answer is depending on the region it where you want to retire because the value of whatever amount of Bitcoin you retire with will be depending on the cost of living and the inflation rate that is at work in your region, for those living in third-world countries where the traditional currency has a weak value against the US dollars which is the global exchange currency with a little as 4-7 Bitcoin retirement could be fun since if you exchange that amount of Bitcoin in the current exchange rate it will run into billions of those currencies due to the weak value.

But if you live or planned to retire to more advance and economically stable countries like the United States or Europe it then means that you will be needing more Bitcoin than just 7 BTC to be able to sort your bills all through your retirement age.

Dr.Bitcoin_Strange

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IMO, this depends on the person's financial ability, not just their wish. Most Bitcoiners will not be able to even accumulate up to 3 bitcoins before they get too old to think of retiring; some can accumulate more than that, but this all depends on their financial capabilities. It's very easy to say that you want to have up to 50, 50,000, or more Bitcoin before you retire, but the person might not even get up to 10 Bitcoin. I just think one should keep accumulating until they really feel satisfied with what they have. For setting cash-out plans, it could be for different goals, and you might not be the only one spending all the Bitcoin you have accumulated, depending on the amount you hold. For example, if one has 10 bitcoins and the person is so old that they cannot really spend all the money, it will definitely be passed on to their children.

stomachgrowls

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Quote from: CryptoHFs on July 15, 2023, 03:21:42 PM

How many bitcoins does a person need to retire, what is the cashout plan and why?

Doesnt need to retire if you do have that significant amount of Bitcoin on your stash because we know that value couldnt really be an assurance that you could be able to sustain it for long years or on the time that you do live and having no job or income source. This is why i do agree on some points above that you should still have that job and at the same time you would really be having that accumulation of BItcoin as much as you can or even on other crypto which you do seem that it would really be having the potential to make yourself that financially free.

Actually this is really that a broad topic considering that each person does have their own level of preference when it comes to money and what amount would be enough for us to see that it would be sufficient
even if we dont work but honestly when it comes to sustainability then there's no doubt that it would really be wise that you should be having at least those known traditional investment like on
real estates on which you could somewhat have that assurance aside from your crypto portfolio and i could say that it is really that risky on having this kind of consideration or you wouldnt
really be that confident that you are on a good situation.

royalfestus

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Quote from: BIT-BENDER on July 15, 2023, 03:48:51 PM

Retire from? Definitely you can retire from you work and all but can you retire from making more Bitcoin? I don't it's wise to go out of improving your finances regardless of the amount you feel you have

I think that's the essence of Bitcoin as an investment, to save you the stress of nine to five jobs that gives you no time for yourself, but with Crypto-currency you can still keep going financial but you become your own boss.

I have come across multiple questions of this nature, but I find it difficult to grasp the concept of retiring solely to invest in Bitcoin and not engage in any other activities. In my opinion, this approach might not be the wisest choice for one's overall well-being. Diversification seems like a more prudent strategy, particularly when it comes to investments that generate a regular income and provide the freedom to manage one's time effectively.

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Quote from: CryptoHFs on July 15, 2023, 03:21:42 PM

How many bitcoins does a person need to retire, what is the cashout plan and why?

This isn’t just any random question because i don’t think there should be a limit set to investment or retirement funds. You can save or hold any amount that you can actually invest. You might one feel a certain amount is enough but with the growing inflation affecting prices of commodities, plans like this can be difficult to predict.

But if you solely Sceptical about how many bitcoin you need then it should be based on how many you can hold comfortably till then and then probably invest the other retirement funds into other assets.

BIT-BENDER

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Retire from? Definitely you can retire from you work and all but can you retire from making more Bitcoin? I don't it's wise to go out of improving your finances regardless of the amount you feel you have

I think that's the essence of Bitcoin as an investment, to save you the stress of nine to five jobs that gives you no time for yourself, but with Crypto-currency you can still keep going financial but you become your own boss.

The Cryptovator

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Determining the exact amount of Bitcoin needed for retirement is a highly subjective question that varies from person to person. It relies on factors such as the price of Bitcoin and an individual's financial situation. For instance, taking into account the current price and my personal financial condition, I would feel content with owning 3.5 Bitcoin for my retirement. This amount would provide me with a satisfactory level of financial stability for the remainder of my life. Therefore, it truly hinges on individual needs and cannot be determined by anyone else.

Aanuoluwatofunmi

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How much richer should you get and needs no more money again in life? If you can provide the answer to that then you've already provided an answer to the question you asked, if you're planning for retirement, then you can have some of your money in bitcoin and hodl instead of putting them in banks, but i dont think there's a particular stage you may wish to retire your bitcoin except you feels ok to exchange it when needs arises and still buy the dip after and hodl, you will always make profits in doing so, your cash out plan is to hodl and sell when the market pumps and continue buying the dip, it's such an amazing way to extend your retiring fund in bitcoin.

panganib999

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Quote from: CryptoHFs on July 15, 2023, 03:21:42 PM

How many bitcoins does a person need to retire, what is the cashout plan and why?

It's a pretty complicated question my friend. Bitcoin's price is not a stable current that you could easily discern the flow of at any given time. It's a little rash sometimes and there will be times when you'd think it's the end of all things bitcoin as we know it. That's why I don't really suggest solely relying on bitcoin as your retirement plan cause there's no telling where bitcoin will be ideally forty years from now. You could always go for a little diversity when you're investing for your retirement though, a major portion of it in fiat, and a sizable part of it in bitcoin.

Retirement plans are one of those things where it's better to be safe than sorry. There's nothing that would beat a comfortable life, and while bitcoin could really give you that provided that you strike gold, its volatile nature is just too risky to play around with especially with the money you'd be relying on for the rest of your life.

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How many bitcoins does a person need to retire, what is the cashout plan and why?

Topic: Retiring on bitcoin - page 2. (Read 279 times)