Bitcoin Forum

If you are a true believer that be dollar and other fiats are doomed should you then cash out your fiat retirement account for btc, metals or real estate?

I have a Roth IRA with some money in it and I am debating on if I should liquidate that or keep contributing to it for the next 30 years.

Savings account, yes. Retirement, no. I seriously doubt retirement will look anything like it does today and those who are young now won't be able to fund 3-4 decades of sitting on their arse and rotting, let alone their governments. It'll be straight into the dog food mincer for most of us.

In my country it is impossible (withdraw retirement savings). But if I could do that, probably would leave them where they are as an additional form of security for future.

Dollars is not my fiat where I live so... I still use fiat yes. Also bitcoin is not yet widely known here in my country thus bitcoin is not accepted anywhere so I can't use it withoit convertig to fiat. If wver there is a chance where my country will start accepting bitcoin as a whole then I will likely turn my savings all in bitcoin and just use bitcoin for good. I think that's impossible tho, not now atleast.

fiat will always be there as this is the most accepted and most likely I'll be saving some in the bank as time deposit.
I invested some of my earnings in pension plans I just hope that the company will not shut down when I'm on my retirement age.

i dont believe fiat currency is doomed, though i do believe bitcoin is an outstanding currency.

i currently have a savings account in fiat where i keep most of my money and a paper wallet for btc where i keep ~90% of my coins. i like to be split between both fiat and btc.

I the pay the retire thing here in Japan. I really don't know what to think as my country, France have quite a high birth rate so maybe all those kids will be able to pay (Japan and France have an agreement). But if I was Japanese, unless society takes a radical turn and leave most of the work to the robots, I think I would hesitate much more to pay.
At least I can cash out a percentage if I go back home. Already more than 3000$ paid so far ::).

i dont own a retirement account lol, thats like hiding money for future use, why not just invest it so your money earns you money.

I have emergency account, savings account and payroll account in banks. My retirement funds is in form of investments thru mutual funds and stocks. Even if I believe that fiats are doomed, I think it is still wise to keep some just in case.

Yes I agree with this, if you took an insurance or a pension plan 10 years ago, the value now of the money promised to be paid after 10 years is relatively low. But it's still a good option to invest on your retirement so at least when you reached your retirement age you still have something to pull out from your pocket.

Some of you missed my point. I am not talking about keeping fiat savings or surplus money, I am talking about a fiat retirement account like a Roth Ira where you fund it with dollars for 30 years then access it when you are over 60 years old.

Yes I do because you never know if you will need it

Why not? I will have one what others have. When the time comes, I will have money to spend as others. Besides that, I will put portion of my money to do the investment like cryptocoins.

Young people now will have to work longer. Fortunately, we can work through the internet, which is not very hard physically.

No fiat retirement account for me either, nor Bitcoin. Just earn a bit to live and try to save a little.

I absolutely keep a retirement account.  It scares the hell out of me when you hear facts like 60% of American's don't even have $1000 saved, much less a retirement account.  My employer makes contributions into it as well, so why wouldn't I have one? Assuming bitcoin continues to take off, I would hope that my fund managers would invest in bitcoin and I could reap the rewards, and if it fails, then I have my retirement money to fall back on.

Currently at the age of 26, I am estimating needing close to 6 to 7 million to retire properly at age 65.  Long way to go, but that's why you start it now, so you have time to let it compound.  Also that's minimum, I would eventually like to buy a condo in Hawaii and Myrtle Beach.  That is an extra 2.5M and 500k respectively.  That seems like a large amount of money, but I plan to be a millionaire by the time I am 40 by continuously maxing out my Roth IRA contributions and then pouring the excess into my 401K.  If you can learn to live without needing that money, it is really easy to save and you never even know its not getting paid to you.

I applaud your thoroughness. You may want to look into never getting married. If it went tits up that may throw a giant spanner in your plans.

My Roth if maxed out from now till Im 60 would only get my $650k.  I would rather use the money to buy real estate.  I guess your plan is to just do it all?  I kind of like that, guess I could keep my Roth as a supplemental plan to my overall wealth building strategy.  Just wondering if the $5500 a year would be better off elsewhere.

You must be around 37 to 38 then?  I thought about that and it seemed off, but that makes sense if your older.  Just 5500 a year with 8% interest puts me at 1.6M at 65.  Not a bad start. I don't have time to manage real estate unfortunately.  I also don't have the skills to do regular maintenance unfortunately as well.  I would love to own real estate and rent out units, but I just don't have the necessary skills to maintain the units.

I am 30.  That was based on 30 years from now at 7% with 10k already in there.  My main concern is a financial crisis or some sort of bail in, I just dont feel secure having it all tied up in the stock market. Also by the time I am ready to cash out the dollar will be massively devalued from what it is today.

the main thing to ask yourself..
in the 1980's you could buy a loaf of bread for 50c.. today it's $2
in the 1980's you could buy gallon of gasoline for $1.20c.. today it's $4~
ref: http://www.thepeoplehistory.com/70yearsofpricechange.html

so $2.00 thirty years ago would have bought you, 4 loaves of bread.. today.. just 1..

imagine what your money today will buy you in 2045..
quarter of a loaf?, just one slice?

so is storing $260,000 today worth it.. when you would only get about $65k of todays buying power.
now if you think that is scary, research the zimbabwe dollar.. and you will see the worst case scenario
(1980) 500 ZWD bought 3 loaves of bread
(2007) 30000ZWD bought 1 loaf of bread

people think that instead of just storing funds for retirement is bad and thus they put them into investment funds.. letting some stranger
in wallstreet trade your funds in the hope of atleast 5% yearly profit.. to keep ahead of inflation.. but the problem isnt that $260k might still be $260k in
30 years.. it might actually be $0.. as there is risks you can lose the lot..

and thus
its better to put atleast some of those funds into deflationary investments.. bitcoin, gold, real estate, etc.. to protect you against inflation..

My retirement account I dont want to touch it I just keep it in my investment  for my future. And I always have my fiat of my emergency fund in case of emergency I have fiat to use and no need to touch my retirement fund.

I will never forget the story my father told me about the neighbor's son. He said the neighbor's son < A investment banker > went to his father and asked him, how much money he would figure would be enough to retire early.

The father looked at his son and said, "Son, at the rate you guys are fucking up the financial system, you would have to work until you die."

I have no trust in the fiat system and are currently buying real estate and physical assets I can sell, with the highest value and the lowest depreciating value. I speculate and trade with other options, just to fund the investments I mentioned above.

I also have a little bitcoins, just in case this thing goes to the moon. I increase the hoard, when the price is low.  ::)

from where I am, you can't just cashout all the fiat in your retirement account as there isn't full overall access which put limits on it on a monthly basis but even if I could, I wouldn't do it... I believe strongly in BTCitcoin like everyone else here but it's not wise to invest all your money in one place so if you want to change  all of it to BTCitcoin, you better think twice also if you want to use it for real estate, it would be good to not use all of it, try to leave some fiat in your account for future purposes

yes i keep it all in fiat
not yet that faithful in btc but i keep some saving in it

I keep most of my retirement fund in fiat in a savings account. This is because I just want to leave it without worrying about it. I don't know where Bitcoin is going to be in the distant future and I would rather have my fiat in a bank collecting interest. Bitcoin may be good at the moment, but you can't predict what is going to happen to it. That is why I keep a small amount of my savings in Bitcoin, I am hoping to cash this out in around 5-10 years and make good profit.

most of my money is in fiat... I personally don't believe fiat will ever dissapear, so i only keep a very little bit of money in bitcoins atm.

I also don't believe fiat is doomed - there is simply too much reliance on it for it to disappear anytime soon. I personally don't have a retirement account though I have only begun to think about it recently. I now think it's important to plan for the future, but this hasn't always been my mindset. The positives to having some types of savings plans is that they allow for some ways of by-passing taxes (at least temporarily).

Retirement accounts mean different things in different countries. In some places you are forced by the government to have one and you only can only start withdrawing at a certain age. In places like the US, they are optional but you get certain tax benefits and protection from bankruptcy or divorce courts, among other things. Sometimes you get employer matching for every dollar you contribute to an account, such as in a 401k account.

I actively self-manage my IRA accounts and am doing pretty well, so I don't see the need for cashing out everything and going to BTC.

However, there is always talk about the possibility of the US government confiscating retirement accounts to pay down their debts, just like what they did with Social Security. It is not something that they can easily do as they need to pass a lot of unpopular legislation, but it is something you should watch out for.

Thats one of my main concerns, along with a financial or stock market meltdown.  Im kind of torn right now what to do, I could keep funding the Roth IRA as a backup plan to other investments but it is $5500 a year that could go elsewhere.

no because i didn't have fiat to begin it, all with bitcoin at the moment, all started from bitcoin

bitcoin really saved me, from a  poor condition, to an accetable one, not going to convert  anything, i want to use bitcoin directly, so i can save more on fee and earn more from the price increasing

No retirement account for me, but not because I don't believe in Fiat but because I don't believe that governments will be paying out retirements.

I do have savings accounts and personal insurance accounts that replace these retirement accounts.

I don't believe that whole Fiat system will ever dissappear. Humanity will cease to exist before governments would give their control over money.

Very interesting and, unfortunately, completely true. We've never seen prices going down but always UP!
The last thing I underlined is the most important one: better start considering how to wisely invest our funds into thos kind of investments.

Yes sir, that is how credit works. It creates a need for currency which doesn't exist, and as such we have inflation.

Bitcoins are a currency which can be used anywhere, anytime by anyone. They can be used for buying, selling, making transactions for anything. But, Bitcoins are still not accepted by many physical goods shops and fiat cash is the only option too when it comes for emergency case.so I have a fiat account still for a day when bitcoins May not work. I hope that day doesn't come soon.

The first thing that comes to mind, when you discuss this... should be the recent Greece financial crisis. What was the first thing they did, when it looked like the shit was going to

hit the fan? {They closed the banks, and limited the withdrawal limits at the ATM's} This should be a warning to everyone who thinks fiat is a sound investment. They also messed

around with the pension benefits. {Government pension funds} I would rather keep a percentage of my savings in something I control, and take away the control someone else has

over my future. Who can ever forget this image :

http://www.businesstimes.com.sg/sites/default/files/styles/large_popup/public/image/2015/07/04/giorgos407.jpg?itok=i6rUj58I

Yeah, The Greece crisis does reveal some scary situations that could happen with fiat.

Banks limiting the withdrawal limits for your own money or closing so you can't even access your money is ridiculous. At least with Bitcoin, you control your money and don't have to worry about that.

That being said, I am still not ready to drop fiat right now so I will still keep savings in fiat at the time being.

The main question is do you trust it to put 30 years worth into it and hope nothing bad happens?

My company matches a generous amount towards my 401k. I contribute to the max of that match.

I was a real estate broker in California, my last full year being 2008 and left my husband in 2007.
So as gentlemand pointed out: divorce can be costly.

I left him with his retirement, our bank accounts and the stocks (which he didn't manage well...selling at every dip)
I had to start over from under a huge amount of debt and it is going to be some time before I'm solvent...but getting there from where I was is part of the "fun" for me.
I don't take for granted that any of my savings are safe and prefer to have them spread out:
into traditional (401k/Precious metal...real estate) and non-traditional such as valuables that appreciate
and of course bitcoin...which keeps me on my toes.

Bitcoin is not a sure thing.

(If it was, it would be much much higher priced.)

The reward you get by investing now is by
assuming that risk.

Bitcoin could still face problems in the future
or fail to appreciate. 

Therefore, its unwise to put your entire investment
portfolio into bitcoin even if you strongly believe
in its potential, unless you are aware of all the
risks and are willing to take it.

That would be foolish. Bitcoin is way too volatile for a retirement account. It's a great speculative investment, but it makes a lousy investment for a retirement account.

I believe in Bitcoin and all but anyway, my retirement fund will stay where it is. Sure is smart to have savings fund for retirement, but in my savings fund Bitcoin will be only one of few assets. Noone can predict future so diversifying is best thing to do in my opinion.

That is the great point. We must need to diversify our investment to minimize the risk. Even I have full faith on bitcoin, I will go for a fiat retirement account too. This is because what if the wrong that I'm having two or more retirement accounts.

Nope.

Somebody paying fiat into a retirement plan promising to pay back in 30 years is absolutely delusional.

In case that fiat currency (be it Euro or Dollar or whatever) still exists in 30 years inflation and bank fees will have eaten all its buying power.

Of course it makes sense to diversify. Gold and silver, land, a mortgage-free house, a business of your own or even investing in aquiring more capabilities (learning how to make chairs or grow food or even learning foreign languages) are much better investments than a retirement plan in fiat and they will compliment your Bitcoin savings wallet in the times to come.

If you have the bitcoins now to pay for these kind of things then you should!

Joe

Yeah diversification is the best thing to do, we have faith in bitcoins but future is unpredictable and nothing is guaranteed we don't know where would bitcoins would be standing after 15 or 20 years So have fiat retirement account would be safe and the same thing everyone would be doing, nobody wants to take a risk at the retirement age.

you all seems to need like money and that is into one or more digital acounts and can be fiat all right

Of course I do. At this point I don't want my retirement money to be in anything other than fiat currency. I don't want my future money to go through huge peaks and then being dumped to the ground again. That money is something I don't mess with.

I hold Bitcoin in my cold wallets for years and will keep it and not sell it for another 10-20 or even more years. That can also be considered some sort of a retirement account. It's a win win for me.

I look forward to the day when stocks and other equities can be purchased and held in bitcoin (on a larger than experimental scale). Actually I did convert my Roth IRA to Bitcoin Investment Trust earlier this year, but it's a minor holding compared to my non-Roth IRAs. As mentioned above, diversification is critical to retirement planning. To put your money in one investment, no matter how much you believe in it, is likely to lead to disaster at some point. Better to accept modest returns than adopt a strategy that is 1%  likely to lead to great riches and 99% likely (over a lifetime) to crater.

Well, I have not done it yet. But this idea is brilliant, to keep some Bitcoin for next >30 years.
Thx for the idea, I think I will set aside some of my Bitcoin for long-term savings. ;)

absolutely, it is very important to have a retirement account.

yes but you can have it in bitcoin that has a high chance of an appreciation in value, were fiat will only get less value in the future, this si a fact

Investing money so it earns more money is EXACTLY what a retirement account is! Plus, you usually get to avoid paying taxes on it if you put it in a retirement account.

That's why you should leave thr money in your retirement account in cash/fiat. You should convert it from fiat into ownership in stocks, companies that will appreciate over time.

I have the government issued retirement account, which is mandatory for everyone. Since populations is declining, we wont have enough young people to support the elderly in the future, so most likely everyone's their future in their own hands. If people fail to think about the future, then it's to the meat grinder for them. In my opinion the sooner you start thinking about your future, the sooner you'll achieve what you're looking for.

All in all I don't really believe in government issued retirement accounts, most likely will cash that out as soon as that's available and invest it into something I believe in. By that I guess bitcoin is my retirement fund.

Yes.. diversity is key.

Everyone does. Everyone should. I don't know anyone who wouldn't as it is an old classic way to keep up for retirement. While we're discussing retirement, how much do you feel you'll need to retire comfortably?

yeah i have it, well i think it provides a little bit of safeness

Marriage and kids my fucking ass.  When I'm done it's the end of my line and I am OK with that.  Going to leave whatever is left to a drug treatment center or an animal rescue, depending on my mood when I write my will.

Yes I have a retirement account that does not include bitcoin.  It's stocks and they happen to be denominated in dollars but you could price them just as easily in bitcoin.

It is down to you what you can save and keep safe in precious metals, homes to hopefully become mortgage free and rely on nobody. I have savings but I would rather put into Bitcoin than put into retirement/pension that someone else controls and feeds from.

Of course, I keep a fiat retirement account.
There is a chance (low probability IMO, but can't be ignored) that Bitcoin will go to zero.
You wouldn't want to be on the streets if that happens.

I own no retirement accounts, the only savings I have are bitcoin. sad..  :'(

I used to live in South Carolina, and I can go ahead and tell you that you don't want to move to Myrtle Beach.  Go look into Beaufort, SC or better yet (my personal favorite) Bald Head Island, NC ; it's literally a paradise out there, and the investment in land will probably sky rocket as time goes on.  Just thought I should go ahead and give you a heads up.  Myrtle Beach is now nothing but a bunch of "yankees" (lol) that have taken over the area and is just not enjoyable because of all the people.

Getting back on topic though, I'm just now becoming an "adult" and getting through an internship for an actual job.  I would like to have the option (and I'm really thinking about doing this my self) to put my retirement savings into gold and precious metals because of the stability of price/demand no matter the inflation rate of fiat.  Am I crazy for thinking this way?  Should I just stake up everything in a 41K?  I'm still unsure about everything, and I don't think it's necessarily smart to put your investments ALL in bitcoin and gold... but I would like to have somewhat a good chunk of my investment in there.

Even I know more options for my retirement planning like gold, real estate or bank deposit and saving or stock market investments or insurance I strongly believe only with the bitcoin to secure my life after retirement.

Yep. Same here. There are a lot of investments out there. As the saying goes, dont put all your eggs in one basket. I personally have plans to go for gold and real estate. Given this, I will still never go of Bitcoin. I still have a feel that this would profit big sooner or later.

Every major account that I am keeping is in fiat. Bitcoin is amazing in what it is but I think it's a big risk to put all your eggs in one basket.

of course i keep a fiat account.

there is this saying that goes "don't put all your eggs in one basket". i truly believe in that, so i have always tried to follow it. which means i invest in a couple of things.

so obviously i keep fiat account because we are still reliant on it, bitcoin, gold and a couple of other things just to stay safe and keep some valuable for a rainy day.

Spread the risk is the main point here. I would always keep part of my retirement funds in a fiat account. At the moment there is no choice anyway, unless you are self employed, you are building your retirement account and you can not withdraw it here.

Also, there are tax advantages related to this retirement fund. No tax is paid on the initial deposits and also no capital gains tax is required. You only pay tax at the moment the money is paid to you in the future.

Gold, bitcoin and a private fiat retirement savings account are all still subjected to taxation. Which hurts your coumpound interest efficiency.

My savings account is in fiat, my insurance  is also in fiat, and I think in my lifetime, cash/fiat will not be doomed, it might take time before money in this world become electronic..

Everything I own is in, or from Fiat. There's nothing I can do right now because Bitcoin is still very much in its prime. Not enough people see it as money and this is the problem.

since it is easier to use fiat in our locality, I will be staying with fiat, I am just starting out my future so might still consider bitcoin as part of my savings when I am already working...

I am still keeping my money in fiat, I am paying my debts with it, and my bills, I don't see any danger with it yet.. though I am thinking to invest  my salary in bitcoin,  I am still thinking that it is easier to use fiat when buying physical goods,

  the era of fiat might end but I think not really this day or the coming years, it  could probably be not in this lifetime...

It's not a good idea to give up on fiat right now. Maybe if bitcoin would become more popular. But for the moment fiat is in the lead.

But all I'm having for my retirement is only bitcoin. Because I'm not ready to believe fiats and banking system for my retirement while I'm having the freedom ie bitcoin.

Thanks for the advice.

Do not put all your retirement money in gold or other precious metals.  You will not get anywhere the return you need from those to retire comfortably.  I assume your young, which means you have a ton of time to build your retirement which is your advantage.  Put as much as you can into mutual funds in your 401k that are designed to mirror the market.  You should get around 7 to 8% return a year, which means that every dollar you put in today, will double every 8 years.  Ill do some math to show the power of compounding interest.

Over the first 4 years of my career, I was able to save $32,000 into my retirement account, and I am currently 27.  That means I have roughly 5 doubling periods ((65-27)/8) (assuming a retirement age of 65) with that money.  If I add nothing else and just let that money sit in the stock market, I should have around 1,024,000 by the time I retire.

That shows the power of compounding interest, but the take away is put as much as you can as early as you can, and you'll thank yourself later.  By April, I plan to have 30% of my wife's and my income going into our 401k.  It would be 10 to 15% more, but her parents left her with over 90k in student loan debt we need to take care of first, but then you better believe we are ramping it up higher.  Plus, if you just start putting that in and learn to live without even thinking you have access to another couple hundred a month, it is very easy to do.

How can you be that sure that bitcoin will survive that long? I mean anything is possible with bitcoin, either it reaches on mainstream or get replaced by some other currency, nothing is guaranteed in long run.

Not about popularity dude. Its bitcoin can comes to us in future with big value So we can male big profit from If you start invest on it as much you can now. then That time bitcoin will be mostly using currency for the world.

TAX & redemption payments will be in fiat, I hope  ::)

I have a pension plan, that invests in the shares and bonds. I will keep that. In the mean while, I will also buy some bitcoins.

You should do it yourself you know :/

Most people use fiat account in the business as well as for owning properties. Certain Asian countries having tax restrictions based on the yearly income. In such cases fiat can be easily captured. For this they use several fiat accounts with loss statements.

People who are into bitcoins would surely wants to get rid of fiat accounts, but depending only on bitcoins would be a risky so its better that we have both as an retirement accounts.

Yes, I don't think bitcoin is currently stable enough to hold long term. I'll be comfortable when the total worth of bitcoin is worth more than the total of the US dollar. Because currently, just one person can sway the market.

in my opinion this is not a good option,you must not put all your eggs in one basket you can make it 50-50 but not cahout all your fiat retirement and exchange it all to bitcoin,in this world nothing is certain even experts makes a mistakes

The bitcoin price is volatile as it is in the early stages of the development. When the price is very high, it will be more stable.

might be true,, that is why it is still good to have a fiat savings account, just to be safe about the future, coz no one knows which one is going to fold in the future...   :)

i think this has an obvious answer.

there is nothing changed about fiat, and we are still dependent on using cash for our day to day needs. and even if it is doomed, fiat is not going to suddenly disappear and be replaced by bitcoin overnight.

but at the same time i believe it is always a good idea to keep multiple safety nets for the future. for example having different investments like in precious metals, in bitcoin,...

I don't have any account for retirement neither in fiat or nor in Bitcoin. But I have a plan to create a bitcoin retirement fund in hardware wallet.
I know due to demand and supply bitcoin's price will be high when I Will come out from the employment.

I have not yet planned up for my retirement but when I plan up I will go diversify my investment with bitcoin and gold. But surely bitcoin will occupy more than 70% of my investments but no fiats at all.

I had this stock in my retirement account:

https://www.google.com/finance?cid=655908

Which later went through a merger and became this:

http://www.bloomberg.com/quote/FCAU:US

It is not doing very well though.

It is definitely more safe if we diversify our investments with proper planning. I'm also not ready to save my money with fiats. I just want to save all my money only with the bitcoin. May be real estate and gold also good but only in small amount.

I too strongly believe bitcoin would be the best option for our retirement plannings because the future of the bitcoin is
more brighter than any other investment. So, planning up your retirement account with bitcoin will make your money to grow rapid.

I maybe cash out my fiat account for doing investment for bitcoin and some business, but not at all because it probably usefull in my retirement later

FiatSpa stock? What products does that company have anyway? It looks like it's really not doing well.

@ontopic Of course, you don't wanna be checking the price of btc every now and then to make sure you still have money when you're retired don't you?

Yes because there are only few stocks that has a value of bitcoin out there and it is easy to have an income from fiat currency.

I would diversify my money into both, fiat and bitcoins, as fiat will survive for sure, but not sure about bitcoins, so it would be weird if I put all my money into bitcoins.

That's right mate... There is no assurance yet that bitcoin would live forever, so it is wiser to put our retirement fund on fiat and invest in bitcoin as an extra income..

Yeah, that's the right thing to do, as the future of bitcoin is unpredictable, but fiat would be there in future too, so its good to have fiat as an retirement account.

yes, totally depending on bitcoin would be not correct, as we want that bitcoin should be more stronger currency in future, but fiat will never disappear.

 :) :D

i have no idea to retire all my fiat to bitcoin,i still worry about bitcoin risk,and other problem is bitcoin not very mass adopted in my town.
but,i really apreciate to you,cash out your fiat retirement account for btc is good way and good story for example,i wish i can do same as you do someday.

If i could cashout my retirament account in to BTC i would do so. BUT there are many goverments that dont allow such operation, mine is one of them. Imagine a money acconut for your winter time, that is blocked by law untill you almost dead... when you do die those money are gone, system takes them. Nonsense right?

Being that bitcoin is still an "experiment" and it's not a good idea to put all your eggs in one basket anyways, I would highly recommend keeping your IRA and not cashing it out for bitcoin.

I hold a few bitcoin as my retirement money. I believe I will retire happily with that in 30 years time.

Yes of course. It is like diversify my options like my investments. Say if Bitcoin fails I need to be prepared...

How about investin into the 600 or so altchains that we have available? If bitcoin ends up dead, then litecoin or other altchain will take over.

I have a diversified altcoin retirement fund, I keep as little money in fiat as I possibly can.

I am not a true believer in anything except the fact that many true believers end up getting burned. Yes, I do plan to keep a fiat retirement account as one component of retirement planning. I also try to accumulate various PMs and other collectibles, I have some real estate besides my main home, have a separate pension on top of 401k's, hold Bitcoin and other alts, as well as stocks and bonds. Heck I even have some US savings bonds. But the main takeaway is any or all of these could be worthless one day, but the chances of them all failing are less than putting all of your money into any one of them exclusively.

it's never a good idea to be am extremist. Always have a backup plan. Fiat will not go away soon, so you should keep some handy at all times.

I'm all for bitcoin and I hope you are right, but believing is something doesn't necessarily make it so.

I don't have a retirement account but I do maintain bank accounts for my salary and other expenditures which I yet cannot make with Bitcoins.

Most of my saving is still in fiat. Bitcoin is just small proportion of my wealth. But I think it will appreciate fast.

That's true, I too keep fiat in my bank account for my daily expenses, we still can't depend on bitcoin, but its good as an extra income...

Planning up for my retirement is too yearly when considering my age I believe. Still it is good to have some bitcoin with the plan of retirement purposes.

Having a fiat retirement account is a good option because most people won't completely believe on the bitcoin because of its decentralized nature.
I truly believe in bitcoin because of its decentralized nature which is the root cause for the growth of bitcoin even in bad market situations.

invest fiat retirement for bitcoin in a city/town that not accept bitcoin at all is risky. we have the same condition. so didn't think to cash out all of my fiat for bitcoin yet

Yes...why won't we?

Fiat is still the most powerful and hence I am saving for my retirement like any other service class people do.

But I am also a believer of bitcoin, hence I am accumulating more and more bitcoin as possible and not selling ti at all. I believe that saving bitcoin now, will add up some more spice in to my retired life.

Why not to have both? If we can take advantage from both of them the why to choose a single one, I would surely plan my retirement with fiat as I have a strong faith that fiat is not going anywhere in future.

Well fiat currently is more safe as retirement option,even knowing bitcoin has several advantages but well who can predict bitcoin value on 2017 or 2040?Because of this you cant and shouldnt make bitcoin the only investment,saving .Protect your interest with both,play the game of buy and sell with profit.

Both are required. Every time depending only on Bitcoin or fiat is not a good option. Keeping both is highly recommended just can earn even if something fails.

Offcourse i got a fiat account. Betting on 1 horse is very dangerous/stupid. I would never do that.
Sure bitcoin will rule the world but if it fails then i got a backup plan.

Yeah i reckon the future looks bleak for  retirement funds, i cant see the youth of today being able to afford anywhere near the retirement lifestyle those retiring to today are enjoying.

i cannot get a work placed pension which i pay quite alot for to be honest but i can retire at 55, i wouldn't be able to save the same amount of money into a private one to give me the same return.

Bitcoin is still too unstable to hold any large value for a high period of time. Obviously, this will change over time as more people use it. For now FIAT is still more reliable.

I will never convert a single penny of my retirement money into anything. It will stay as it is. I am a real Bitcoin believer and I think we will see great things from Bitcoin in the coming years. That's why I am holding a fair amount of coins in cold storage. That will be my bonus retirement money. :)

I'm 99% sure that most of the Bitcoin supporters on this board still do have a fiat retirement account. Even though Bitcoin might very well be the currency of the future, in the event people retire early, or for any other reason, they'll still hold fiat so they can retire comfortably.

I think only a small minority of people on this board do not have a fiat job, or at least want to have a fiat job.

ofc most of us still got a fiat retirement fund, i would be more suprised if someone did not have it :)

I do believe in bitcoin strongly, but I absolutely do have a fiat/investment retirement fund and will continue to do so until I retire regardless of what bitcoin does.

I worked too hard to build up my current retirement fund up to convert it all to bitcoin at this point. The way I see it, if anything, it can be a hedge if bitcoin doesn't go as high as speculated or anticipated by the time I actually do retire.

i think otherwise, we still dont know how long bitcoin can last, if the investment in fiat or gold it will be valuable until your country collapsed, so for long time investment fiat is the best, but if for short term period its better to keep bitcoin

even if i wanted, it's not even possible here to withdraw my current fiat retirement account and convert all that to bitcoin. bitcoin is nice and has a great future ahead of it. but that doesn't mean people will leave fiat behind and go full on bitcoin.

Well described in the growing economy, it is highly impossible to make everything into bitcoin though we clearly know bitcoin is gonna get used a lot in the future than now.

But I think bitcoin will appear more reliable if we know complete knowledge about bitcoin. It is true that the price is fluctuating but it does not mean that it is not reliable a person who is well aware about bitcoin can secure and increase his / her money with bitcoin.

currently no I do not think to that way because i'm still focus on my bitcoin although prices looks unstable but with the growing popularity of bitcoin i hope people in the future will preferring bitcoin than fiat

I still have a 401k and I love that I had to say out loud the other day, "hey my 401k is only down 5% compared to 18% earlier this year!."

The same is here, I am also a strong believer on bitcoin and according to my views the great thing will happen in this year and for that I also have stored a big amount in cold storage of my wallet and counting days  ::).

I have a fiat retirement account but after knowing about the features of bitcoin , now I am more attracted towards bitcoin and so now I am deciding to convert all my amount to bitcoin as it will benefit me more.

i am a believer in bitcoin but i still keep a fiat retirement account because that is a sure thing while bitcoin is not 100% sure.
so i only invest my extra money that i don't need and willing to risk on bitcoin, and keep buying it until the price goes up.

Not only fiat. It can also be kept in some other forms of investment. Only depending upon a single source might lead to some problem. So keeping alternate solution seems good.

Ya it is true fiat retirement will fetch you only small interest percentage but if you keep in metal like gold or in bitcoins or even in real estate you can get good returns if that turns out good. So keep 50% in fiat retirement and balance you can do in any one or keep everything equal so you can get maximum benefit of your retirement.

I don't have it yet. but have plan to make one fiat account.. I think it is improtant for everyone to make a fiat retirement account. because we can't depend on bitcoin only. we still need fiat accounts. fiat money is still our necessary to purchase daily things and for doing shopping.

Im still far away from my retirement so i think fiat will still be on my retirement plan.
Since its mandatory to that in my country i will be using that when i retire.

Unfortunately I have no retirement plan as such but only a little savings plan where I put in 100 bucks a month and earn 7% yearly for it like an endowment plan bt that's it. I am hoping ot offset my limitations of retirement by building up a bit if bitcoin. Still struggling though to get my whole round 1 bitcoin in savings but I am trying.

I think it is very risky for long-term investments in altcoin. altcoin potential is smaller than the bitcoin,
so investing for your pension better choose bitcoin than altcoin

He didn't even mentioned the word altcoin. Not sure where you get that from. But you are indeed right about altcoins. "investing" in altcoins is quite the same as gambling. It's a short term thing with too much risk of ending up with 90% losses overtime.

Majority of my funds for retirement would in fiat for sure, and I will keep few amount in bitcoins, as the future is unpredictable so its better that we have both of them.

Now fiat is more safty, so why people should not keep it? Bitcoin is unpredicteble thing that's why i'm keep holding fiat retirement account.

its always good to have fiat retirement account as if bitcoin disappears in future it is only fiat which can take care of us in the best possible way.

Yes, I have such account. It's long time until retirement and nobody can't now how the things will develope and where Bitcoin will be in 20, 30 years. We still need fiat funds.

I can't see any problem in just keeping it going, people will continue to get old and it's nice to know you will have something if and when you reach that point, no harm though in taking a % of it if you can and putting into bitcoin the best is yet to come.

Never get to invested in one aspect,its best to have assets spread out over your portfolio. Otherwise you take a hit and see 20 years go up in smoke. A lot of the baby boomers watched this happen and the reason it never hit so hard,is real estate went up in value.
So they are able to reverse mortgage their homes and keep it on the low from their kids till they die.
I put into a work pension that I am pretty sure will not be there when I retire and its just the cost of doing business.

yeah, of course i keep that, you have to always be guaranteed that you will have something to live out of if something unexpected happens, and it is a good way to be safe

i think that it is very important thing to do and you should start investing to it from the young age

What's wrong in having an fiat as an retirement account? is there something wrong in it? No doubt I have faith in bitcoin too but I have more faith in fiat as I believe in reality.

I spent some time last night working on a spreadsheet to show some retirement plan/goals for myself and my wife.  This spreadsheet is pretty powerful to show compounding gains and the power of time on an investment.  Please take a look and let me know what you think.  The current version ignores things like promotions and bonuses (and bitcoin going to da moon!), but if there is enough interest that stuff wouldn't be too hard to add.

https://docs.google.com/spreadsheets/d/14ygbY57RZ2oS9YoIo7amecFR7UnSaz9xr5yEvkOozDU/edit?usp=sharing

^^^ This guy  ;D ;D

Correct. It's about having some backup plan. Why would you bet on just 1 horse. Suppose the project fails, then you will live your life poor.
So yes i got 1 retirement accounts. 1 is bigger then the other.

That's true Sir. Saving money is something i learned from being a small child. My parents teached me to have some spare money in case of an emergency.
These day i don't own a lot of bitcoin but i do try to save for a savings accounts.

That's right.. though we are all trusting bitcoin and grabbing the opportunity that it is giving us, we should still make investment in fiat, as we are not so sure about what is the future of bitcoin..

Don't worry about the future bro. People are adopting bitcoin everyday. It's all because business people knows about bitcoin's potential.
They know how long bitcoin will long last and how it works.

Me also same bro. I am believing bitcoin. I don't want fiat retirement fund and all. Thats why I am holding bitcoins.

I think keeping multiple investments is always a good strategy, You of course know about the "not putting your eggs in one basket" so I think it's better to have a wider profile of investments.