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Author Topic: Do you still keep a fiat retirement account?  (Read 5886 times)
croato
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November 11, 2015, 01:31:11 AM
 #41

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.
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November 11, 2015, 06:28:54 AM
 #42

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.

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November 11, 2015, 06:41:48 AM
 #43

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


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November 11, 2015, 10:26:22 AM
 #44

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.

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.
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November 11, 2015, 10:28:31 AM
 #45

you all seems to need like money and that is into one or more digital acounts and can be fiat all right
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November 11, 2015, 10:34:53 AM
 #46

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.

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November 11, 2015, 11:23:36 AM
 #47

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.

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November 11, 2015, 01:15:24 PM
 #48

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. Wink

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November 11, 2015, 01:19:45 PM
 #49

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

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November 11, 2015, 03:43:29 PM
 #50

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

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Possum577
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November 11, 2015, 04:03:38 PM
 #51

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.

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.

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November 11, 2015, 04:05:08 PM
 #52

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

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.

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November 11, 2015, 04:18:37 PM
 #53

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.

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November 11, 2015, 04:24:56 PM
 #54

Yes.. diversity is key.
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February 18, 2016, 08:42:54 PM
 #55

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?
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February 18, 2016, 09:44:20 PM
 #56

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

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February 18, 2016, 11:51:57 PM
 #57

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.  


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.
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.

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February 18, 2016, 11:56:39 PM
 #58

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.
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February 19, 2016, 12:57:47 AM
 #59

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.

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February 19, 2016, 12:59:34 AM
 #60

I own no retirement accounts, the only savings I have are bitcoin. sad..  Cry
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