Iadegbola34
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March 22, 2023, 09:13:05 PM |
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How much money is enough money to you? 100k$? 1m$? 10m? You probably won't be able to come up with a decisive answer to that because human wants are insatiable. If you're sure having 100BTC will be enough for you to retire, given the knowledge you have about potential buying opportunities when you were stacking up on BTC, the natural greed instinct in you will not make you overlook a very big buying opportunity. Hence, you may really not be able to retire. You'd always come back.
Let's say your average price of getting 100BTC is 40,000 and the price goes as high as 70000. You might be satisfied at that point but would you be able to overlook if Bitcoin goes back to 20k? Knowing that the last time you you bought at that price, you're in massive profits now.
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TimeTeller
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March 22, 2023, 09:27:20 PM |
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There's no concrete answer to this, because well, bitcoin's price changes over time and there's no way of telling whether it would rise up in value in the future or it will plummet to its death. But the latter is a little unbelievable if I do say so myself. In my opinion, instead of wracking your brains trying to collect as much bitcoins for your retirement when there's no assuring whether bitcoin would still even be relevant by the time you officially retire, you might wanna look into other retirement plans, a 401k looks nice nowadays and is something my friends and I will always recommend since it always ensures that you have pocket money for when you can't work anymore!
Yes, he can look at other investment options not only with BTC or ETH. Much better if you have tangible assets such as real-estate, precious gems, and others that you have physical ownership. Or just like you said, invest in a 401k retirement plan or whatever is equivalent in your country. You can never be sure with crypto market, so with your tangible assets, at least you have a fallback if anything goes wrong with this market.
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JoyMarsha
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March 22, 2023, 10:02:56 PM |
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Your stated objective is to retire in 2032 with 10 Bitcoin and 100 Ethereum. If I can get 1 or 2 BTC before that time, I'll be fine.
It is never necessary for someone to have a defined objective to amass 10 BTC and 100 Eth before retiring by 2032 because of the volatility of the cryptocurrency market. Depending on the quantity and value of Bitcoin in my portfolio, I can retire at any time. I can choose to retire happily if I should have 1-3 BTC before 2032 and the price of bitcoin increased more than I anticipated over the next bull run.
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ChiBitCTy
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March 22, 2023, 10:07:00 PM |
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Please only listen to people who are actually licensed and trained to give this kind of information, and I can tell you that 90% of the people replying in this thread have absolutely NO CLUE what they are talking about.
As a financial advisor I would be happy to discuss this with you personally if you truly care and want to truly learn. There are so many factors at play here and absolutely no one knows if bitcoin and ethereum with be worth 1 dollar or a million dollars down the road.
Always remember, ones portfolio must be diverse. You must have traditional assets as the backbone of your portfolio first, then you bring in more risky assets , such as bitcoin.
People should stop trying to give advice that are not qualified to do so. SMH
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Ndabagi01
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March 22, 2023, 10:29:21 PM |
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10BTC and 100ETH is a good starting point for a retirement fund. In my place, that is a very high price that, even at its current value, can provide you with a comfortable life. Looking ahead to 2032, when we all hope prices have risen further than they are now, it will be an excellent retirement plan. Although market volatility should be taken into account, you may not be able to exit the market at its ATH in 2032.
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Yatsan
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March 22, 2023, 10:35:35 PM |
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As much as possible and as much as you can. For sure the bigger the better BUT nothing will give you an assured profit. Take note that the market price of Bitcoin is volatile and that means funds of yours won't be having assurance to generate profit in the future. If we would base on charts, indeed the market value of it is growing in a long run but what would give us certainty that it will be continuous? Anything could happen in a long time frame and that simply means that risk will always be there. Using this technology as your retirement plan won't be advisable. Retirement funds should bee in a place wherein no risk is present because you'd be needing it in times of emergency. Let us be not delusional; not because this technology has potential you'd already risk everything into it.
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n0ne
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March 22, 2023, 11:35:35 PM |
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10BTC and 100ETH is a good starting point for a retirement fund. In my place, that is a very high price that, even at its current value, can provide you with a comfortable life. Looking ahead to 2032, when we all hope prices have risen further than they are now, it will be an excellent retirement plan. Although market volatility should be taken into account, you may not be able to exit the market at its ATH in 2032.
This looks to be fair amount for the retirement. In the past it looked like an easy investment based on its current price. Even after this we'll get more opportunities in the ten years time. We need to have perfect plans and start saving, so that we can buy the mentioned number of Bitcoin and ethereum at the best price. If not, atleast we should start DCA technique by now onwards which helps to accumulate the number at an average price.
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bosede1
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March 23, 2023, 02:47:20 AM |
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That question will be answered on an individual level, this is because by that 10 years what are your goals what do you plan to have achieved? Also, the exchange rate after selling the bitcoin matters, for me to retire in the next ten years I think 1 BTC will do to have a quiet and peaceful life forever.
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barto123
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March 23, 2023, 05:28:16 AM |
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over the last couple years i've told people hodl at least 0.1 BTC as long as you can - it may change your life one day.
hyperbitcoinization could send the price to $100m per coin (in today's buying power)
even if BTC has market share with XMR and possibly a few others, how much money do you need?
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Plaguedeath
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March 23, 2023, 05:35:19 AM |
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Why we should stop to accumulate more when we still have a chance to accumulate more even though we're already old enough? I'm not retired yet, but I believe many retirees are have a lot spare time where they doesn't know what they need to do. They're happy in the beginning, they will chill and enjoy their life, but after few months or years, they will say their life were boring and they need to do something to kill their boredom.
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Crypt0Gore
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March 23, 2023, 05:44:21 AM |
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If you plan to retire in 10 years then it shouldn't stop your buying power, right? You should be buying a good amount of Bitcoin every year, let's say you are able to afford 0.1 BTC per year from your salary or business, in 10 years time that's 1 BTC, how incredible is that? Right now, 0.1BTC is 2744$, this is very achievable every year for the working-class, if we have to break this amount further down, this is 228$ per month.
I believe this strategy is far more going to be effective, instead of buying 0.1 BTC like some recommend and sit on that for the next 10 years, not good enough to me, use the next 10 years to secretly accumulate Bitcoin 👍
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fauzan Ichsan
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March 23, 2023, 05:47:05 AM |
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10BTC and 100ETH is a good starting point for a retirement fund. In my place, that is a very high price that, even at its current value, can provide you with a comfortable life. Looking ahead to 2032, when we all hope prices have risen further than they are now, it will be an excellent retirement plan. Although market volatility should be taken into account, you may not be able to exit the market at its ATH in 2032.
This looks to be fair amount for the retirement. In the past it looked like an easy investment based on its current price. Even after this we'll get more opportunities in the ten years time. We need to have perfect plans and start saving, so that we can buy the mentioned number of Bitcoin and ethereum at the best price. If not, atleast we should start DCA technique by now onwards which helps to accumulate the number at an average price. very fantastic value for preparing for retirement, if only in the early years it was created already knew bitcoin, maybe it's not difficult to collect 10BTC and 100ETH, but for now the nominal is extraordinary, at least collect little by little for the future. it should be at a time like this, where in my opinion the price is still worth buying and hopefully soon the bullish season will come so we can hold it more calmly because of floating plus
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adzino
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March 23, 2023, 06:24:10 AM |
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Hey guys,
so I have been buying BTC (and admittedly ETH) since October/November 2020. I have been sticking to that strategy and even put larger amounts when there was a steep decline in a short period of time, everything on my cold wallet, nothing left on exchanges.
With prices starting to slowly rise again (not sure if I really like that, always have the feeling to never have enough), what would you think is enough to retire in 2032? I know that nobody can tell that with certainity, but would love to hear your estimates:
I think 10 BTC and 100 ETH would set you up for good, so once that is reached, I would stop accumulating, what is your plan?
Depends on where you live and where you are willing to live. Yeah, 10 BTC and 100 ETH at current price is actually good enough and you will be able to retire in some countries like situated in South America. You can own a house and a car, and lead a decent life. This is based on current price. If the price in next 10 years goes up more, you can literally own a mansions and lead a luxurious life in those countries. So yeah, you are doing the right thing saving bitcoins now. But like you said, no one can exactly predict what the price is going to be in next 10 years. Chances are that the price is going to be higher, but there is also a chance that the price will be much lower than it is today.
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worle1bm
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March 23, 2023, 06:51:07 AM |
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This is really big investment at this time also for many of us as there can be lot of people who are holding small units of btc with them and not have acquired full Bitcoin and you are talking about 10 btc along with 100 ETH for retirement plan.The main goal for me is to have sufficient funds to enjoy my life in late fifties and from speculation one btc would also be very expensive at that time.
But inflation is also going up so will depend on how much worth 10BTC would be at that time so you can afford to live a comfortable life but you can always prepare yourself for upcoming times and yes btc is great choice.
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crypticj
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March 23, 2023, 07:23:54 AM |
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Don't think about how many bitcoins you need. You can never get enough BTC ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) So I think it's best for you to just keep accumulating and not think about it. Eventually, you will realize that you have enough.
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Tony116
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March 23, 2023, 07:43:05 AM |
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Don't think about how many bitcoins you need. You can never get enough BTC ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) So I think it's best for you to just keep accumulating and not think about it. Eventually, you will realize that you have enough. Bitcoin is an asset that will have a higher value if held for a long time, so accumulate as much as possible. But giving specific goals is the right thing to do because we will rely on them to make more effort. But when it comes to money, I think human greed will never be enough, when we achieve that goal we will set higher goals. I don't know where OP comes from and what his income level is, but his goal for me is too high to achieve. That would be a huge amount in a 3rd world country, with that money you could also retire early without having to wait another 10-20 years.
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Cookdata
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March 23, 2023, 07:57:24 AM |
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Hey guys,
so I have been buying BTC (and admittedly ETH) since October/November 2020. I have been sticking to that strategy and even put larger amounts when there was a steep decline in a short period of time, everything on my cold wallet, nothing left on exchanges.
With prices starting to slowly rise again (not sure if I really like that, always have the feeling to never have enough), what would you think is enough to retire in 2032? I know that nobody can tell that with certainity, but would love to hear your estimates:
I think 10 BTC and 100 ETH would set you up for good, so once that is reached, I would stop accumulating, what is your plan?
What exactly do you mean by retirement? Do you mean I should sell all of my bitcoins after holding them for ten years? I think this is arbitrary; 100 bitcoins may be sufficient for you, but trust me when I tell it is average money to another person, and why would you retire from Bitcoin in 10 years? Is owning a bitcoin for life and selling it whenever you feel like it now a profession from which one must retire? That's something I'm not sure about. Have you also had the thought of it crashing back to your initial investments or the price that you bought? "What if" you bought the bitcoin at an average price of $30,000 and then in the next 5 years and the price surged to $300k and then another 5 years it came down again due to unforeseen circumstances like we did have so many instances of exchange insolvencies and Luna moments, how do you retire from this kind of situations? These are the things you should consider when you talk about retirement.
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Inwestour
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March 23, 2023, 10:59:28 AM |
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It is extremely risky to bag hold altcoins in general, it is even riskier if the altcoin is centralized, flawed and most importantly has an unlimited supply such as ethereum. In 10 years, it may not even be around let alone be worth higher than this. Not to mention that the past 5 years that ETH has been dumping consistently (from 0.15 to 0.06) has proven that it has no long term potential.
As for bitcoin, the way I wouldn't rely completely on bitcoin for retirement. In 10 years with the way inflation is going and if the adoption is slow and price doesn't go that high you may not have enough bitcoin to retire comfortably. In most countries the cost of living is already huge and is increasing fast. It is best to diversify into other assets and I mean real assets not altcoins.
Can you clarify what real assets are, it's real estate and precious metals? 10 years may not be enough for bitcoin to reach very high values, but there are those among us who will retire in 20 or 30 years, in which case the chances are much greater. But even so, I agree with you that it would be good to diversify your investments in order to reduce risks.
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hZti
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March 23, 2023, 11:05:19 AM |
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Bitcoin is an asset that will have a higher value if held for a long time, so accumulate as much as possible.
Thta is simply not true at this moment and this bear market is the best reason why. If OP retires and in this moment the bear market is going on, then he will need to wait for a few years until he can sell his bitcoins for profit. How can he however live in those years? If he sells in bear market he will have a loss and will not have enough bitcoin to retire. If the does not sell he needs to work again. Also OP can get sick at some point where the prices are low. How can he get his money then. In General you should have more then one asset class. It is easy as that.
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Grim_Fandango
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March 23, 2023, 11:15:46 AM |
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With prices starting to slowly rise again (not sure if I really like that, always have the feeling to never have enough), what would you think is enough to retire in 2032? I know that nobody can tell that with certainity, but would love to hear your estimates:
I think that depends very much on the country where you plan to live as it is a big difference if you live in Norway or if you live in Phillippines. But generally speaking, I think that having 1 Bitcoin in 2032 will be enough to retire as I think by then price might be over 1 million dollars and for me that would be enough to retire.
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