Bitcoin and retirement - how do you see your future?

[davinchi]

I don’t see myself relying on bitcoin for my future. I’m just using to kick-start myself, my business and also help my family. Bitcoin is really helping in lots of ways. I don’t plan to be here all my life, there are other better things that I’m hoping for,but till then I will still be working on bitcoin. I’m not trying to say that bitcoin is not reliable, you can be lucky with it. It is something we are not 100% sure of.

I do not think that I will stop doing this in my old age, because then really there will be a lot of time to do crypto

Lol…dayumn! Not only in your country does it happen, it’s happening so many places even in my own country. When people retire from their government work, getting their pension is a war, that’s why it is not something to rely on. Bitcoin is good, but I’m not trying to say that you should rely on it fully, but start working on your future from now.

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[Opnsrc]

I do not see any retirement here.Once you are able to acquire good skills in ether bounty hunting or trading,you can always use those skills even in your old age.There is no physical energy usage so no matter how old you are,you can still work without any problems.

Retirement is even the best time to deal with bitcoin and the cryptocurrencies. You have no need to hurry to your work, you can spend in the crypto all of your free time, and you feel relaxed as you also have a stable income.

[wuvdoll]

I'm always optimistic about the future of bitcoin so I never get bitcoin when the price is under $ 10,000 I always buy and hold because I'm sure that someday I can retire and enjoy the richness of the bitcoin price increase.

I think you are little bit detracted from right path, actually we all must follow that buy low and sell high rule. If you are not following that rule in your investment or trading, you would be getting so big losses. So better is to live with happiness and that comes when you earn money where you have invested or traded. And that comes when you find profits through low buying and high selling.

The thing is that no one actually knows when it is low most of the time and when it is high. Although, there are sometimes, like what we saw in the bull run last year that some things are not warranted, and in that case, one may as well just use wisdom in buying which a lot of newbies did not. As long as you are not joining FOMO, I always believe anyone buying at that time, is buying at a good value, and for those who are actually looking forward to the future rather than the present, that absolutely will never be a problem for them since if it gets lower, they are still buying anyway.

[Mpamaegbu]

Ordinarily, investment in cryptocurrency is a risk on itself. It then obviously explains that whoever is investing in it already knows the risk factor involved. For me, it won't even be a bad idea if the person seeking retirement keeps that little amount aside for altcoins and not bitcoin. Everything kept for future use shouldn't be kept in bitcoin. For instance, if anyone had invested $100 last week on Firstcoin the person would've netted over $1,000 on that alone because Firstcoin just did over a 100%.

[darewaller]

I won’t really try putting my life savings into Bitcoin, no way! It’s a very big risk for anyone that does such a thing and I can’t risk it. I know a friend of mine that did that and ended losing more than 50% of his money. Best thing is to divide the money and make use of about 20 or 30% for Bitcoin investment, save the next 30% while you make use of the remaining percentage to start up an offline business.

That would normally be an insane thing to do and a very risky one for that matter. It is everyone's choice to decide what they want to do with their money anyway, but with the way the market is; there is no point getting greedy as nothing is guaranteed and even though things are looking brighter by the day as we keep forging ahead, at least, it is always better to take calculated risks.

You are right as at least a few percentage of your savings should be enough at least to minimize the risk of any unforeseen stuffs and probably push it into other offline investments to diversify the risk.

[brontosaurus]

I came across a very nice experiment of one of my compatriots. He started to put up around $ 50 a month for pension. I will add that pensions in my country are low.

Description of the experiment:

"What is going on?
One of my many areas of interest are cryptocurrencies. There is a good chance that you have heard about bitcoin. A smaller chance that you know litecoin or dogecoin. If you want to know the technical side or economic cryptocurrency - use google. For the needs of my retirement, it is enough to know that cryptocurrencies act as cash in a modern version. They have their value (they are listed on the stock exchanges, they have their course), they can be safely stored, they can be sent immediately to any distance, practically free of charge and - with a little effort - they are anonymous. And they are today at the initial stage of development. Everyone who touches them is still an early employer, and this means that - with a high probability - a long-term investment in cryptocurrencies will be very profitable. I chose 4 cryptocurrencies for my retirement basket and gave them percentages indicating their presence in the basket. When making my choice, I based my own - already several years - experience in the cryptocurrency industry, the capitalization value of a given cryptocurrency (market cap) and the features that distinguish it from other coins on the market. And so I chose:


How much do I put aside? I did not want to set any fixed amount. Because you know - inflation, fluctuations in financial markets, etc. ... So I decided that the value of a monthly investment will depend on the minimum wage in Poland. In 2017, it is an amount of $ 540. And every month I invest 10% of this amount, that is 50 $. "

He has currently invested $ 1,600, and the rate of return since early 2017 is 1,600% = $ 27k.
It's a great idea, right?

That seems to be a nice idea. Bitcoin is become a store of value and there is best for holding it for long-term. This makes it best for retirement planning. If we a person in his 30s or 40s invest in it he can benefit from it greatly. Bitcoin has great potential and day by day as more people are becoming aware about it they are investing it in. so you can earn a lot in a decade or two. But moreover another sad part is that with a history of merely 9 years incumbent one should not make his retirement plans with crypto this soon.

[Hatuferu]

I won’t really try putting my life savings into Bitcoin, no way! It’s a very big risk for anyone that does such a thing and I can’t risk it. I know a friend of mine that did that and ended losing more than 50% of his money. Best thing is to divide the money and make use of about 20 or 30% for Bitcoin investment, save the next 30% while you make use of the remaining percentage to start up an offline business.

That would normally be an insane thing to do and a very risky one for that matter. It is everyone's choice to decide what they want to do with their money anyway, but with the way the market is; there is no point getting greedy as nothing is guaranteed and even though things are looking brighter by the day as we keep forging ahead, at least, it is always better to take calculated risks.

You are right as at least a few percentage of your savings should be enough at least to minimize the risk of any unforeseen stuffs and probably push it into other offline investments to diversify the risk.

Yes.You need to diversify your investments not just online but also in an offline businesses.Bitcoin is such a risky investment because of its high chance of volatility so do not just depend on bitcoin alone for your retirement benefits,but rather learn to invest also in some good altcoins that will also give you good profits in your pention age.

[Dudeperfect]

For me and other millennials out there have the excess point of strength when it comes to the risk-taking ability that will enable us to take a comparatively higher amount of risk than that of the people who are about to retire in next 10 to 20 years from now. Thus, I am very optimistic about investing in cryptocurrencies because even in the worst case scenario I would be in a position to recover my loss even if I am losing my 100% investment. As we all know that crypto market is still in the basic phase so I do see a huge potential for growth in the coming decade and on the other hand there is an opportunity to expect gains from speculation (but still I believe that we should not give first priority to use it for the speculation purpose in the first place).

[bncbnc]

I won’t really try putting my life savings into Bitcoin, no way! It’s a very big risk for anyone that does such a thing and I can’t risk it. I know a friend of mine that did that and ended losing more than 50% of his money. Best thing is to divide the money and make use of about 20 or 30% for Bitcoin investment, save the next 30% while you make use of the remaining percentage to start up an offline business.

That would normally be an insane thing to do and a very risky one for that matter. It is everyone's choice to decide what they want to do with their money anyway, but with the way the market is; there is no point getting greedy as nothing is guaranteed and even though things are looking brighter by the day as we keep forging ahead, at least, it is always better to take calculated risks.

You are right as at least a few percentage of your savings should be enough at least to minimize the risk of any unforeseen stuffs and probably push it into other offline investments to diversify the risk.

Yes.You need to diversify your investments not just online but also in an offline businesses.Bitcoin is such a risky investment because of its high chance of volatility so do not just depend on bitcoin alone for your retirement benefits,but rather learn to invest also in some good altcoins that will also give you good profits in your pention age.

Yes that is too much important, you cannot put all your money in one place, but should distribute it in different places so as to reduce the risk of losing your money in one time. To me i think that even we can get a good profit from online investment but still we should distribute our money in both online as well as in day business, which are prevent us from a big lost.

[lucyhahaha]

Yep, your idea looks pretty good. We may have a look at the BTC chart and it is obviously that BTC is not going to drop right now. The picture looks like that a new wave is being created. We will be able to assert that it is a retracement when BTC will make a breakout of 10000$ and stay above this level. I am waiting this. Right now BTC looks much better than before.

[Indai24]

Yep, your idea looks pretty good. We may have a look at the BTC chart and it is obviously that BTC is not going to drop right now. The picture looks like that a new wave is being created. We will be able to assert that it is a retracement when BTC will make a breakout of 10000$ and stay above this level. I am waiting this. Right now BTC looks much better than before.

Bitcoin investment and my retirement is a different thing. It's okay to spend money, invest in bitcoin but when it comes to retirement it's a different thing. We all know that bitcoin is like gambling, risk is always there and I don't want my retirement plan to be at risk as well so I would say that it's okay to continue investing in bitcoin while you also have a safe retirement plan.

[CHENIEN]

The comparison of two are far different, because retirement benifits assurance are already there, and the assurance of bitcoin sometimes comes into some forms failure and losses of capital, that's why they are unlike of situations, however bitcoin gives high privileges of income to those lucky and wise persons that knows on how to earn income in such different opportunities given by bitcoin.

[nydiacaskey01]

The Bitcoin that I earn from campaigns, bounties and trading are invested in different ways. 25% goes to my retirement plan, I signed up to this pre-need company where I can save $48 every month for the next 5 years and I earn 10% annually plus a life insurance coverage. You might say 10% interest per year is small compared to what we can earn in trading but what I am after is the life insurance coverage so if anything bad happens, my loved ones will get something and the money invested there will grow unlike in BTC, we are not 100% sure if after 5 years price of BTC is still the same.

$48 is relatively small compared to what I earn in BTC from bounties, trading and campaigns. Other portion of my earnings are invested in stocks, I selected companies that are already established and good for long term investment.

[gogrowglow]

Before you finalize your decision please  acquire more knowledge and skills regarding cryptocurrency because the volatile  price of cryptocurrency, the unpredictability of it might affect hugely  in your investment and  retirement plan.   However, Bitcoin offers  high  income to those lucky and wise persons that knows on how to earn income in such different, innovative and high tech opportunities given by Bitcoin.  If I were you I will separate the investment in Bitcoin from my retirement because the risk is always there and I don't want my retirement plan to be at risk as well so I would say that it's okay to continue investing in bitcoin while you also have a safe retirement plan.

[chrisculanag]

If i have a bunch of bitcoin in my wallet i think my retirement is full of happiness because i want to manage crypto trading and some business . Then find another online income that can help me to earn a lot of money that i need if i retire in my work.

[arthotdog]

Wow amazing strategy,and gives me idea about my last 20 years of being employee.though i am not sure i can maintain that same amount but atleast i can have even small amount every payday.and added into this is my trading income(though sometimes losses)yet enough money for future .

Thanks for this one OP hope instead of some people here giving nagagive feedbacks why not try to look on positive side

[bitcoinisbest]

Retirement is past.. persons who are hoping for that to have money live with closed eyes, want money - work hard, it is a truth of future

Along with hard work you need to be smart so that say if you invest 1 million today and if you want 10 millions after 10 years you need to identify those opportunities which can help your money grow. This potential exists in crypto currencies.

[yudif]

I do not want to retire even if I make a lot of money using crypto or any other method because:

1) We should live a lively life and do work that we enjoy. If money was only thing that mattered in life, billionaires would have taken retirement. but we still have people like Elon Musk who work very hard.

2) If I succeed in getting a lot of wealth, I would like to expand it to passive businesses and use the money earned for social work. There is no value of having surplus of anything if you do not care to share.

[cryptostardom]

This is a nice way to secure your future finances. Saving 10% of income falls in line with the advice given in one of the greatest books about how to get rich titled "the richest man in Babylon". So I think it is very likely that your friend will become rich with this initiative even before pension. But one important thing is that, the author mentioned that one must invest the 10%saved into a safe and lucrative venture to increase returns. So we have seen that crypto investments are lucrative, you must also consider the safety of the investment. One thing you can fo is to deduct 10% of the profit from that to invest into other things like maybe other coins or to start your own enterprise.

[Chrisjay29]

Will bitcoin is a great idea for those people who retired. Because people retired got huge time. But they only spent it in just sitting around in there house. But if they know bitcoin there might be a chances that they can make there money grow more in just sitting in there chair.