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Author Topic: 20-Year-Old Americans Put Their Retirement Savings in Bitcoin Despite Risks  (Read 1387 times)
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July 31, 2017, 08:31:38 AM
 #1

Thousands of American investors as young as 20 years old are investing their hard-earned money in Bitcoin despite the high risks.

Duke University finance professor, Campbell Harvey, has warned that the kind of price volatility facing cryptocurrencies is very brutal due partly to the reason that they are not collateralized.

Harvey says:

"I'm worried that people will put too much of their retirement in an asset like this. It's a very small piece of the market right now and it's extremely volatile. To put this into your savings, you need to be willing to lose everything. If you put your retirement savings into the stock market, there is almost no chance that you're going to lose everything."

Currently, platforms like Bitcoin IRA enables their investors the tax advantages of an individual retirement account (IRA) and the return of a high-risk, high-reward alternative asset class.

Similar to traditional IRAs in terms of its mode of operations, but instead of being financed by cash, gold and bonds, it is bankrolled by Bitcoin.

Investing in a Bitcoin retirement portfolio both offers great risks and high rewards.

According to pioneer investor Roy Trimboli, his 10-Bitcoin investment in has already increased by around 300 percent in just one year.

Such results are not exclusive to IRAs and various investors have been enjoying high profits, albeit the accompanying risks, in various cryptocurrency options, including ICOs, Bitcoin and altcoin trading.

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July 31, 2017, 08:36:06 AM
 #2

Oh, really? Twenty year old young men already thinking about savings for retirement? They must the earliest birds. Where do these people get their savings when they are still a year older than a teenager?

Anyway, long preparation must be good. Here in my place, at 25 years old some are still in college trying to secure a diploma.


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July 31, 2017, 08:49:41 AM
 #3

this is great new for americans, when they reach the age of retirement, they can just relax and not live below their means, if they will just keep on doing this things, their country will be great again for sure, young people thinking of retiring, means they know how to take care of their finances or they are financially literate.
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July 31, 2017, 10:37:16 AM
 #4

Oh, really? Twenty year old young men already thinking about savings for retirement? They must the earliest birds. Where do these people get their savings when they are still a year older than a teenager?

Anyway, long preparation must be good. Here in my place, at 25 years old some are still in college trying to secure a diploma.

As long as they are guided by someone old enough (like parents), I think the kids will be OK. There are also kids nowadays that really go investing to stocks. I was around in mid 20's when I started to invest on stocks because of my father. So I have no doubt that they are into bitcoin, although some of them really need to understand how the market works.

this is great new for americans, when they reach the age of retirement, they can just relax and not live below their means, if they will just keep on doing this things, their country will be great again for sure, young people thinking of retiring, means they know how to take care of their finances or they are financially literate.

Yes great news indeed. And imagine when they reach like mid 30's to early 40's most of them will be multi-millionaires.

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July 31, 2017, 10:40:20 AM
 #5

The forum is super strict about copying other peoples work and that seems to be a news article so I would recommend you put that in quotations and provide a link to the article or where ever you found this.

Gold seems to be no longer a good investment option with Bitcoin here. It is good to see a lot of young investors and it really is a sign that Bitcoin is growing. Respect to them. Seems like a lot of people are jumping on the bandwagon now.


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July 31, 2017, 10:44:00 AM
 #6

Retirement for 20 years old people.  Huh
You should have just pasted the link to make it more original instead of like stealing it from a blog then pasting it here.  Cheesy
Now it looked fake even if it was supposed to be true. If it is.

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July 31, 2017, 10:49:06 AM
 #7

The younger ones can take a lot more risks than those who are in their 50s or 60s as they have more time to recover if something fails. With regard to bitcoin, I choose to only invest something that I can afford to lose. I try as much to diversify whatever I can, whenever I can. This might not yield me the most profits, but this strategy also protects me from being wiped out if something really bad comes up.
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July 31, 2017, 10:49:32 AM
 #8

I mean why not?

As long as they are investing moderately, i.e. not investing everything that they can currently afford to invest and getting themselves into debt by investing into bitcoin then i don't see any problem. Bitcoin can be a crucial part of a healthy retirement portfolio because of its ability to store value in the long term due to a hard coded cap of 21 million bitcoins. Yeah, it is risky in the short term but most bitcoin holders would agree that long term wise there is really no reason to worry about bitcoin not going up.

One of the biggest advantages of having bitcoin in an retirement savings is that you can actually hold it in your wallet. Nobody is managing anything for you, you can dump it whenever you want if you feel like it.

Of course you should try to avoid making bitcoin your only resort. Shit happens, and it happens fast. Diversify for your retirement. Hedge against your bets with other assets, don't blindly trust whatever you're told to do.

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July 31, 2017, 10:57:58 AM
 #9

It's easy to invest your retirement savings in a risky asset like crypto currencies when you are young. How much can that be when they are only 20 years old? And in case that they lose everything (the worst case that can happen), they have a lot of time to earn new money and to invest in stocks or in other markets. But when Bitcoin sky-rockets, even a small investment will pay out much when they are old.
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July 31, 2017, 11:17:10 AM
 #10

it's too early for them to think of their retirement, if it is true twenty years should just work to gain more knowledge and degrees where are they getting their savings at that age, they are still in the process of getting into the companies rank and files.

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July 31, 2017, 11:33:12 AM
 #11

I`m not investing my savings because of retirement.I will die before i reach 50,
so i don`t care about retirement and pensions.
Young americans having savings?This is a joke.They have only student debts. Grin
The risks involved with bitcoin price volatility will be reduced as along as bitcoin det more and more adopted.


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July 31, 2017, 11:45:09 AM
 #12

Well if they want to take a the risk it's up to them. Just because the price is volatile doens't mean it isn't profitable, especially if you're in for the long run. It's nothing I would personally pull out but I give them credit for the faith and courage they have to make such a decision and perhaps they might be rewarded in the future.
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July 31, 2017, 11:55:59 AM
 #13

Is that article written this year? If there are people still optimistic about BTC and they are willing to put their life savings on the line, it could mean BTC still has a lot of potential going up as all that fiat comes in.


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July 31, 2017, 01:53:36 PM
 #14

I think at the age of 20 he has thought the future for him is very good .. rarely do we meet young people who think of the future. They only think to have fun. He who invests bitcoin at a young age .. will be rich in the future .. he does not need to work just to earn money. Just save money in bitcoin wallet.

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July 31, 2017, 02:09:17 PM
 #15

I think this is a good thing. I wish more people thought about retirement when they were in their 20s. I think they should not only put money on Bitcoin. They should diversify, put a small percentage in altcoins as well. Yes, putting money in cryptocurrency is high risk but the rewards CAN be high as well. I think its a risk worth taking.
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July 31, 2017, 02:58:22 PM
 #16

this is great new for americans, when they reach the age of retirement, they can just relax and not live below their means, if they will just keep on doing this things, their country will be great again for sure, young people thinking of retiring, means they know how to take care of their finances or they are financially literate.
Thats really interesting.Just twenty years old americans trusting fully bitcoins.It seems that being younger generation,its easy for them to understand the concept in which bitcoin works.Otherwise,no one would dare to save all of their hard earned money in bitcoins.It seems that they are going to have a great future.
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July 31, 2017, 10:47:18 PM
 #17

If a twenty year old put their money into bitcoin as part of retirement fund so be it,even i do really think that it is too early to do that kind of savings at a very early age and there is nothing wrong in doing so at the early part of his career and everyone things that the price could multiply from the current valuation in due time and hence there is nothing wrong in it.



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avikz
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July 31, 2017, 11:15:58 PM
 #18

It's strange to know that a 20 years old is already planning for retirement!! However, I believe that fellow has saved his pocket money and invested in bitcoin. That's a welcoming step because there is a chance to get bigger return if you invest in your early days. I am glad to know that the fellow is thinking of saving money instead of clubbing and partying.

I too wished the same but I started with bitcoin at a very later stage when the price was standing at 450 USD. If I had started early, I could have become a millionaire by now. But I am glad that I have started with bitcoin and saving a good amount of money every month.

.FORTUNE.JACK.
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Pfizer
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July 31, 2017, 11:20:34 PM
 #19

I wonder how much a 20 year old guy will invest in cryptocurrency market. The money he saved for buying a new bike maybe... Putting all the retirement fund into bitcoin is more than being risky. You can lose all, yet if you're lucky, you can find yourself in the best position by multiplying your fund by 10 times.
unamis76
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July 31, 2017, 11:22:17 PM
 #20

Well, whoever has been doing this is pretty well right now I guess Cheesy But yes, it's risky to bet it all indeed. But not more risky than betting it all on the stock market, in my book...

People just need to do informed choices, and unfortunately some don't, that's what's a shame...

As for folks finding it strange for 20-something year olds worrying about retirement, good that you guys live somewhere where 20 years olds don't need to worry if they'll have money when they retire or not Wink
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