Bitcoin self-custody retirement wallet account

[Charles-Tim]

I made a topic recently about bitcoin retirement account, to just know what we think about it, if good or not. This type of service is provided by some custodial providers like Bitira, Coinira, Regal Assets and Daim. But, according to many bitcointalk members, most commented that one of the purposes of bitcoin is to have privacy. I was thinking fiats are already non-privacy currency that using the service could be fine, but later I realized people can have their salary and use a noncustodail wallet for this purpose which I believe will solve the issue of privacy which is what best to go for.

But, there is one more question to ask, if noncustodail wallet is used which is the best because of privacy, what about the issue of price downturn? Is it good to have bitcoin noncustodail retirement wallet at all? If yes, what percentage of monthly income should be saved?

Also, how can hire(s) be able to access the funds if anything just happend like death?

[JeromeTash]

But, there is one more question to ask, if noncustodail wallet is used which is the best because of privacy, what about the issue of price downturn? Is it good to have bitcoin noncustodail retirement wallet at all? If yes, what percentage of monthly income should be saved?

I wouldn't worry about price down turn because most of the time we only look at the negative side of things but much as there is a downward movement of bitcoin price, we also have a positive price movement sometimes.
I think the percentage should just depend on how much one can really afford to save

Also, how can hire(s) be able to access the funds if anything just happend like death?

There is an option of timelocking bitcoin transactions from an address though It won't be very accurate since no one surely knows when they will die.

I also read about an idea of a dead man's switch where a message contain instructions and information such how to access the private keys containing funds is sent to heirs in case there is no activity in the savings address. Maybe you could read further about it.
- https://hedgetrade.com/how-does-a-dead-mans-switch-work-in-crypto

[OgNasty]

Whatever amount you could afford to lose would be the best answer.

[OcTradism]

Do you meant about something like that? A company in Japan wants to start paying employees in Bitcoin. It is from GMO, a Japanese company, and the story is from 2017, 3 years ago.

It is not about retirement bitcoin but the idea of GMO can be applied, the additional 10% of salary (if bitcoin is chosen as a salary payment method) will be automatically sent to retirement account of employees. It can not be done for all employees and for the ones accept it, companies must teach them non-custodial wallets and practical steps to use, backup, recovery.

Beginning in 2018, GMO Internet Group will give employees the option to receive payments from 10,000 yen (about $88) to 100,000 yen (about $881). Employees will also get an additional 10% of the salary they choose to receive in bitcoin as an incentive.

[joniboini]

Also, how can hire(s) be able to access the funds if anything just happend like death?

Death man switch has been discussed deeply in the past, I think this topic is one of the best discussion about it. Check them out. Another topic that you probably interested in: Dead man's switch: better approach proposal.