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Author Topic: Dad's retirement money is invested in Bitcoin!  (Read 1285 times)
jeraldskie11
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July 26, 2023, 11:05:15 AM
 #201


So right now I am not able to give him any proper advice as a boy. But one thing I've been wondering for a few days is if I invest half of my father's retirement allowance in Bitcoin, am I doing something wrong?
I feel like if I invest half the amount in Bitcoin for a year after receiving his retirement allowance, I might be able to hand over more money to my dad at the end of the year.  
Hope I get proper advice from you.
but this is not your money so who are you to decide? and also does your father really understand crypto? because this is His money and if there is someone who must be making it to invest is Him.
at least you don't wanna be blame once market turns other ways.

Though If this is my money and being in your father shoe? I will definitely invest in Bitcoin not only half of it but instead majority of the funds, because we are now heading to Halving season and the possibility of Bull coming next year is indeed to be happen.

This is something I agree with. Making a decision for the sake of other people's money is not a good idea. You can make suggestions on what he should do with his money, but the final decision must be made by him. If something goes wrong with the money, at least you're not to blame and your conscience is clear, even if he won't blame you. However, I hope he chooses to invest in Bitcoin since I believe it will burst at the right time with very little risk if you buy now.
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July 26, 2023, 11:33:42 AM
 #202

I don't know how I make decisions as a boy.  
My father is a military man. He has served in this military sector for 25 years. His term of service is almost at an end. After two months he was going to retire from the job. He will get retirement pension after his service life in the military sector and he has many plans based on this retirement pension.  
His first dream is to build a house with this retirement money. But right now in my country all the materials needed to build a house are very expensive so building a house right now can't be a good decision. And I don't feel safe keeping his pension money in the bank because earlier there was inflation in my country where some banks went bankrupt.
So right now I am not able to give him any proper advice as a boy. But one thing I've been wondering for a few days is if I invest half of my father's retirement allowance in Bitcoin, am I doing something wrong?
I feel like if I invest half the amount in Bitcoin for a year after receiving his retirement allowance, I might be able to hand over more money to my dad at the end of the year.  
Hope I get proper advice from you.
I think you're not wrong in trying to make more money for your Dad, but the thing is you should risk investing your Dad's money without his decision, first he needs to be aware of your decision and also know the risk one benefits of investing in cryptocurrencies before he gives his decision to make such investment, the volatility of bitcoin makes it difficult for it's price to be predictable so if your idea of investing in it is for a short term goal, then you should take such risk to avoid regretting, in a case where you're thinking of a long term investment and your Dad would be willing to wait for a long time before using his money then it's a good idea to buy and hold bitcoin currently and wait for the next bull run by 2024, I hope you're aware of the next bitcoin halving so now it the actual time to buy and hodl btc and prepare for the next halving where you can get ×10 of your dad's pension and sell when the price of bitcoin goes high.
 Or if you're scared of taking the risk of investing your Dad's money in btc due to it volatility, there are other commodities you could invest on, like Gold, though the price doesn't appreciate very high like btc, but it's price doesn't depreciate and it appreciate gradually over time.
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July 26, 2023, 11:50:41 AM
 #203


 I think you're not wrong in trying to make more money for your Dad, ...
 

If you want the best for your father, you really want to take care or give the best to your parents, why not invest your own money and give them those profits? You are investing other people's money, which means you are doing it for yourself, not for them because of the risk they will bear, not you. I don't know how old the OP is and can make money, but the idea of investing with other people's money is a bad idea, let alone whether the money matters to them or not. If you can't make money yet, you are not qualified to teach anyone how to make money. Do not use the excuse of wanting to be good for your father, but use their money for their own purposes.

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July 26, 2023, 01:08:58 PM
 #204

I suggest you first, first you should give your father all the idea about Bitcoin. Teach your dad that investing in bitcoins is not only profitable, it has the potential to lose. If your father is interested in investing in Bitcoin after getting all the ideas about Bitcoin, then you will invest in Bitcoin. If your father doesn't want to invest in Bitcoin, don't force him to invest. You said your father has many dreams so as a son it is your responsibility to fulfill your father's dreams. So you will work with your father's pension money as your father wants. Your father brought you up very hard. So you will take care of your father in his last years.

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July 26, 2023, 01:16:17 PM
 #205


 I think you're not wrong in trying to make more money for your Dad, ...
 
I don't know how old the OP is and can make money, but the idea of investing with other people's money is a bad idea, let alone whether the money matters to them or not. If you can't make money yet, you are not qualified to teach anyone how to make money.
I totally agree with you on this very statement of yours about it not been a good idea about investing with other peoples money, not especially to mention a retirement benefit of an old man who ought to have start enjoying the fruit of his labour, living a good life, eating whatever he wants to and enjoying his last days, as in this mortar world nobody lives forever. However, it's left for his father to decide, as I'm sure he should be retired by now since O.P said he had just only 2 months.

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