Bitcoin as a Retirement Account

[stephanirain]

I think not all people who had just retired will be interested in investing bitcoin because they may lose interest working to make money because they will now rely on their children who have jobs. But it will still be a good idea because it will help them to earn huge money for extra income.

[nidacoinlove]

I think not all people who had just retired will be interested in investing bitcoin because they may lose interest working to make money because they will now rely on their children who have jobs. But it will still be a good idea because it will help them to earn huge money for extra income.

Bitcoin payment is not feasible for many of the companies, till we don't switch to the crypto payment system solely this practice can not be continued. Also it is about the interest of the individual, what if someone don't like crypto to be paid as a pension funds.
Relying on parents when you are a student and on children when you are retired is basically a cultural issue. In western world there is no concept of relying on your children or any of your relatives. It happens mostly in Asian world and unfortunately things are changing there too.

[xitrum]

Should not, because their prices are constantly fluctuating, until you retired perhaps the BTC is just a pile of debris, no longer worth to sell so you will lose everything.

For the short term I admit that it will be risky due to fluctuations, but for the long term, I don't think so. the development of bitcoin shows a positive thing many people around the world are interested in using bitcoin and that is the key to the future growth of bitcoin prices that will make you profitable..

This is true but you did not think about one thing. How old are people that get their pension? Retired people are over 65. Most of them are very conservative, and it will be almost not possible to convince them dealing with BTC, not fiat.

that wrong opinion i think.althoug more 65 years old, they still can use bitcoin as retirement asset.if not for them, it can used for their children or grandchild

If bitcoin is really a money of the future then I believe today's bitcoin holders will become the wealthy of society at the time. I believe we will have more time to save for retirement later

[andrey111]

Every month, your employer transfers Bitcoins into a time-locked address that can't be transferred out before you reach retirement age.  You have the key to the address.  You can verify the transfer on the blockchain.

No middle-men.  No funny business.  No brokers with pyramid/eyeball shaped logos.  No "oops we went bankrupt and lost your retirement."  No bail-ins.  No raising the age of retirement.

Just Bitcoin.

I do not know if this is possible for now. Maybe in the near future when bitcoin will be accepted by the government and to incorporate it with the likes of this idea. As we all know that bitcoin is not that established right now and there could be some technical problems may arise like losing private keys or compromising the digital wallet account.

Its a great idea but its bit risky. There's huge chances of losing private key. For old people its hard to remember their private key also they can lose the backup they can forgot where they place there private key's backup.

Now almost all pensioners receive a pension on a bank card - they do not forget the code from the card ...
I think if it made at least one government, the citizens would simply breathe a sigh of relief. When the country's inflation and money depreciate at an incredible rate, this is the best solution to the problem of pension funds.

[Glok17]

I think that it is a far too long to predict such things but that may actually work, if you can ignore crypto news and don't let yourself check your wallets for several decades...

[fordsons]

Should not, because their prices are constantly fluctuating, until you retired perhaps the BTC is just a pile of debris, no longer worth to sell so you will lose everything.

For the short term I admit that it will be risky due to fluctuations, but for the long term, I don't think so. the development of bitcoin shows a positive thing many people around the world are interested in using bitcoin and that is the key to the future growth of bitcoin prices that will make you profitable..

This is true but you did not think about one thing. How old are people that get their pension? Retired people are over 65. Most of them are very conservative, and it will be almost not possible to convince them dealing with BTC, not fiat.

that wrong opinion i think.althoug more 65 years old, they still can use bitcoin as retirement asset.if not for them, it can used for their children or grandchild

I appreciate your post and its a great idea but when you look government policy your ideas become dull. No good response from the governments.

Fluctuation is not a problem and I don’t think it will affect the future of all investors. Those who have invested in bitcoin for long term do not afraid of the current situation of the market. Volatility and fluctuation is the nature of bitcoin but due to this we cannot leave bitcoin, because I my view it will help us in our future. Just hold and wait for some more time. You will see the results.

[patarfweefwee]

I don't know about the company themselves putting aside money for you. But if that is how it works then I'm up for it. But it would be better if like the money you're willing to put away will be matched by the company so there is a sort of co payment on a retirement fund. Then put a minimum tine when you can withdraw it like 5-8 years of service.

[bonammeo]

This is a crazy thought at the moment! Older people find it difficult to access the internet. Thus, bitcoin used in retirement could be a thing of the future, when anyone in the world can access the internet.

[Bezobraznike]

This is a crazy thought at the moment! Older people find it difficult to access the internet. Thus, bitcoin used in retirement could be a thing of the future, when anyone in the world can access the internet.

   You want to say that I`m crazy cause I believe that my current investment will be my pension? That I believe
more in that than in my government retirement program? I am paying for that from my salary too, from the same
salary I`m investing money in crypto-currencies. I believe that crypto-currencies will be my pension more than my
other investments.
   It`s my plan, you can call me crazy, many thinks I am. Bitcoin now is double from the price I bought first time.
I still don`t laugh, but in 10 years I think I will be the one who is laughing, others will regret cause they didn`t
believe.

[Zadeket]

A similar situation unfolds with the usual Pension Funds. The market of crypto-currency is very unpredictable and it is impossible to guarantee that at the time of retirement bitcoin will rise in price.

I think retirement by managing a bitcoin account will add value because bitcoin itself is an investment, certainly not all pension funds are in a bitcoin account. There must be  put in a bank account for everyday life, and in the case of Bitcoin experiencing a decline in value.

[EdenHazard]

Not many company pay their employee with bitcoin. But i think its good if emplayee paid with bitcoin because its more safe to keep bitcoin as pension funds because bitcoin is investment itself.

It would be great if every company that will pay its employee with bitcoin they must hold an education about bitcoin privously. This education is very important for those who have never heard of bitcoin, or for those who only know cursory bitcoin. Agreed bitcoin is an investment place so everyone can save their money in bitcoin compared to just holding the money in a bank, but all we know bitcoin is very different from other investment places, cause investment in bitcoin is high risks but high profit.