Dad's retirement money is invested in Bitcoin!

[pawel7777]

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.

So you self-describing yourself as a boy, meaning non-adult male, and somehow he made you responsible for having control over his retirement money? That totally makes sense. I guess if he put all his wealth in the hands of a boy, who seeks financial advice on an anonymous Bitcoin forum, he deserves whatever is coming.

But if that story was true, assuming military retiree is still of relatively young age, he could afford to go more adventurous and risky with his investment, but putting half of it in Bitcoin is still way too high.

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[Oasisman]

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 doubt your father would allow you to do that. Half of his retirement fee which he had worked for it almost half of his lifetime invested into something that he didn't know, I really doubt it would be possible for you to do that. Not unless, if he have exceptional trust on you.
The only risk I've foreseen when you and your father decides to put half of it in Bitcoin is that you will have to wait for Bitcoin to hit your target or pump up before you can decide to withdraw your money without the risks of lossing some of your capital. The question is, are you willing to wait longer than you expected? I mean those materials to build a house will be affected by inflation as years passes by so that means those materials will not going to become any cheaper but it will become more expensive. So, I guess the decision aint with you alone, but it's for your father's, right?

[TimeTeller]

I thought that it's already invested in Bitcoin without his authority and permission. Did your father gave you a go signal that it's okay for you to handle his retirement fund and be invested into somewhere you decide such as Bitcoin?

First things first, you have to make your father give some idea on what Bitcoin is. You may say to him that it's not a guaranteed type of investment because it is volatile.

IMHO, let your father do what he thinks is right for his money. It's his retirement money and not yours, let him enjoy whatever he can do with that. Be it on an investment or not.

That's the better thing to. But you can always educate him about bitcoin or crypto.
Let him decide what needs to be done with his money, after all, it is his money.
He earned such money, so much better if you will leave the decision to your father.
Investing in this market, even if we say only half of it is no guarantee that you can make profits later on.
Though the chance is big if you ask crypto enthusiasts, but it is not your own money.

[Onset]

Oh boy, DON’T you dare to do this with your father’s money! It’ll be the biggest, most hurtful decision of your life yet which may have a very strong impact you still don’t see.

Bitcoin is fun and games until you start becoming greedy and think you know the market better. So you pour money you shouldn’t and next thing you know, the markets are crashing and your money is going away faster than you could’ve anticipated. It’s incredibly hard even for a “veteran” in crypto to resist temptations and greed. It’s even harder when the money you invested is visibly turning into a loss. What do you do then, sell on a loss and destroy your father’s future? Of course not, you think you can do this emotionally.. don’t trust this much in yourself dude, emotions will likely dominate in such events.

Bitcoin is volatile. Governments are hating Bitcoin and it’s showing more prominently than ever before. Nobody knows what the future holds and it’s not worth it to risk destroying your father’s life for greediness.

Your questions prove a thing: you aren’t ready for a big, proper Bitcoin investment yet. At this point, what you’re doing is contemplating gambling your father’s retirement funds.

Be responsible, man! Please!

[mindrust]

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.

That's a big gamble imo. What if bitcoin goes down and recovers after 4-5 years? What's your father going to think about this? Don't even do anything with that money unless you inform your father first anyway. That alone will cause lots of problems even if you make money in the end. Your father will never trust your judgement again. That thought is wrong on so many levels, I would rather forget about it quickly. Focus on your job or school or whatever responsibility you have nowadays. Stop thinking about somebody else's money. Make your own money and invest it in whatever you like.

[Onset]

Your father will never trust your judgement again. That thought is wrong on so many levels, I would rather forget about it quickly.

Isn’t it scary?! The kid’s asking strangers about the best place to risk his father’s funds for retirement. This sounds… terrible and terrifying. Imagine you retire and you find out your kid’s gambled away half of your retirement funds so now you have to work your ass off or live 50% of the life you thought you’ll have after retiring lol..

[bettercrypto]

Even though we know it's good to invest in bitcoin if your father doesn't agree, it's not good either. But, if your father has his blessing, that's good anyway as long as you just hold for a few years the target you want.

      And it is better for him to also understand why bitcoin has become a good thing in terms of investment in this industry as well. At least a child like you shows concern for a parent too somehow. It's a good decision to do that, actually.

[stomachgrowls]

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 doubt your father would allow you to do that. Half of his retirement fee which he had worked for it almost half of his lifetime invested into something that he didn't know, I really doubt it would be possible for you to do that. Not unless, if he have exceptional trust on you.
The only risk I've foreseen when you and your father decides to put half of it in Bitcoin is that you will have to wait for Bitcoin to hit your target or pump up before you can decide to withdraw your money without the risks of lossing some of your capital. The question is, are you willing to wait longer than you expected? I mean those materials to build a house will be affected by inflation as years passes by so that means those materials will not going to become any cheaper but it will become more expensive. So, I guess the decision aint with you alone, but it's for your father's, right?

For sure he wont because its true that he had been working for it for 25 years on which he would really be something assuring on what are those things that he had on his mind. Making up some interference
on his plans would really be possibly be making out some conflict which is something that we must avoid at all cost. Better letting your father decide on what he would gonna do with his retirement funds.
Dont tend to touch up on his plans if you dont like for possible argumentation specially if we do speak or talk about money.

If you are really that indeed bullish about bitcoin then its better to deal on your own rather than on making yourself trying to convince your dad on investing his retirement funds.
On this way, you wouldnt really be making yourself getting stressed on whatever the market would be doing in terms of movement of its prices.Unlike if you do invest your dads retirement
fund and turns out to be negative. Then how you would be making out those explanations?

[panganib999]

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.

Investing your pop's money is a good thing, but I won't really recommend bitcoin considering the flak it's been receiving these past few months, or maybe you can but you'll have to suffer through tons of rejections and stern reprimands from your father, especially since this is his money you're talking about. If in any case he doesn't agree with investing it over to bitcoin, let him know he can invest it on something else, perhaps gold, silver, even some stocks and bonds but those are a little more riskier in my opinion since the economy's a little down nowadays and there's little money to be made in that industry. All in all, your father has a plethora of choices he could choose from, just need ample research so you know what you guys are doing, and of course the cajones to boot since this is going to be a very crucial investment.

[Vaculin]

Your intention is good but I don’t think it’s a good idea to invest in crypto half of his total amount of retirement money. Yes, you can actually invest but only with a small amount so that if your investment does not end up according to your plan, your father will not see it as an issue. Though investing will double or triple his money, but let’s also consider that crypto investment cannot guarantee profits all the time, so invest at your own risk and invest with high caution, especially that is a hard-earned money of your father.

[hatshepsut93]

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?

There's a lot of things that can go wrong.

Bitcoin can crash. No one knows what the price will be tomorrow or in 1 one month, all the "experts" and influencers are just making things up, often because they have an open position and because they don't have any responsibility - their words are "not a financial advice".

You can lose the coins. There are many dangers - malware, theft, errors, scams. If you will be managing your fathers coins, you will hold years of his work in your hands. Think about it carefully.

50% is a very high share for an asset that could be a bubble. Better put a conservative amount like 10-15% into Bitcoin and the rest into a diversified portfolio of safe traditional assets. Bitcoin shouldn't be viewed as an easy way to double your money.

[Captain Corporate]

I couldn't really do this to my dad. I mean its something he worked all his life and if there were anything bad ever happening he would lose it all and all of his life work would be going to waste. Obviously his life spent on earning enough to live and take care of us, so that won't go away, but all that he saved aside would have gone away. Not that he has anything anymore, he is a retired dude in Turkey, they don't make much, its minimum wage and then some, just a bit, so my mom and dad make 2 minimum wage salaries in return of working for over 40 years, 80 years combined, hence they are quite poor obviously. But they do have their own home, and they are 60+ years old, so they don't really need much anyway.

[Rengga Jati]

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?

Well, there are some people who make Bitcoin their retirement asset. However, what needs to be understood is whether there are other urgent needs for your father or your family in the future. Building a house is actually quite important however. but if indeed the pension money is still lacking, it is indeed quite difficult to make it happen. However, if his intention is to invest in Bitcoin for a period of time so that he can at least earn additional profits from his retirement fund then Bitcoin may be an alternative. However, also explain to him about the risks that might occur and how many periods you want. My advice, if you want to invest in Bitcoin, don't use all of your retirement money to invest, it would be better if you manage that money for some things that might be urgent and emergency.

[SOKO-DEKE]

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?

Bitcoin have proven as a good investment according to the history of Bitcoin due to a lot of investors have make good profits from their  Bitcoin investments, but due to the volatility Bitcoin is hard to be predict and that is why we are always advised to invest only what we can afford to lose.so with is reason investing half your father's  retirement money may be risky because it may not be what you can afford to lose.in fact why should you even invest the money that did not belong you in bitcoin
or even convince someone to invest in Bitcoin that you are not guarantee of what will happen in future ? I will say that is a bad idea.my advice to you is to teach your father about bitcoin so it can decide on his own whether is half or quarter of retirement funds he can afford to invest in Bitcoin.

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.

How certain are you that this will be the case for the price of Bitcoin by the conclusion of this year? Op things might not turn out how you had hoped.Only invest what you can afford to lose in order to hold your Bitcoin investment for a long period of time, ideally three to four years, so you can witness a bull run. The price of Bitcoin may even fall below the point at which you decide to withdraw your money from your Bitcoin investment at the end of the year.

[Fatunad]

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?

Well, there are some people who make Bitcoin their retirement asset. However, what needs to be understood is whether there are other urgent needs for your father or your family in the future. Building a house is actually quite important however. but if indeed the pension money is still lacking, it is indeed quite difficult to make it happen. However, if his intention is to invest in Bitcoin for a period of time so that he can at least earn additional profits from his retirement fund then Bitcoin may be an alternative. However, also explain to him about the risks that might occur and how many periods you want. My advice, if you want to invest in Bitcoin, don't use all of your retirement money to invest, it would be better if you manage that money for some things that might be urgent and emergency.

If there would be no other income sources then most likely this would be the case on which it would really be having that heavily relying out of those retirement funds in speaking about daily expenses and needs.
Now that your father doesnt have any work at all then it would really be just that significant or normal that those funds that had been got into would really be used on that way but of course not all of those
money since it would really be that insensible if you do spend it up on a short period of time. Your father would really be definitely be minding about on buying something that he do wants
and its better not to make out some contradiction if you dont really like to have some argumentation about it.

[ChiBitCTy]

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'm a licensed financial advisor, and one of the biggest mistakes I see people make is taking advice from those whom aren't qualified to do so.  If you truly want help with his financial plan, in-box me.

You mention a pension, is it truly a pension ..which is a lifetime payout, typically where you get an automatic increase called COLA, cost of living adjustment, which is set up to help keep up with inflation.  

The short and simple answer is NO, this is likely not a good idea.  However I'd have to know his full financial situation to give proper guidance.

[Yatsan]

I couldn't really do this to my dad. I mean its something he worked all his life and if there were anything bad ever happening he would lose it all and all of his life work would be going to waste. Obviously his life spent on earning enough to live and take care of us, so that won't go away, but all that he saved aside would have gone away. Not that he has anything anymore, he is a retired dude in Turkey, they don't make much, its minimum wage and then some, just a bit, so my mom and dad make 2 minimum wage salaries in return of working for over 40 years, 80 years combined, hence they are quite poor obviously. But they do have their own home, and they are 60+ years old, so they don't really need much anyway.

If he chooses to do so then that would be fine. Personally, I won't be making use of my parents' pension as long as they are alive and for me, it is for them to enjoy and to buy the things they want. We all have short lives and the money they have worked on should be enjoyed by them before that 'time' come. Also with the reason that their children has jobs to suffice themselves. Engaging with investments would be a good idea ofcourse but if it would be too risky for their money, then I won't be suggesting it. I'd rather invest my own 'coz it is me who can manage the risk more and to have other set of plans in a worse case tendency.

[n0ne]

Good decision, but you should understand well as well as make your dad understand the reality of the market. Never assure of big profit out of the investment with deadline. This is wrong, give him the advice to have patience, which is how it is possible to make best profit out of the investment. The retirement fund is the earning for his dad to the rest of his life. The son have taken the right decision. Partial investment is good, and he should plan for his regular pension spending in a much calculated way. In most countries military persons have got more subsidiaries, so leading life out of the pension paid is not a big thing.

[loopes]

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.  

• The first rule of investing is not to stake what you cannot afford to lose. From your thread, your dad and the rest of the family are heavily dependent on the pension, putting that into a volatile asset is a risk, one you have to think long and hard before making.

Totally agree with you, we should not make an investment from money that is not in idle position, i mean if your family are dependent on that pension, that money will be used to cover your family necessary. Except, after you calculate how much you and your family needs, installment (if any), tuition, and emergency fund, then you found a spare money after calculated those things, you have an option to do an investment including invest in bitcoin or gold or etc.

[LogitechMouse]

 
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.  

I don't know if it's just me, but people who served for their own country are highly respectable, so I give respect to your father.

 
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.

It depends on what type of house your father wants. Is it a bungalow? A 2-story building?
Well, I agree with what you said that housing materials are very expensive because of what happened last year, but there's always a way to build a house with the retirement money that your father has. On the other hand, if you have a house to live in then better wait for the prices to go down I guess - if it will goes down. As for putting money in a bank, I don't see any reason for your father to put it there aside from it being an emergency funds.

 
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.

Half of your father's retirement money into Bitcoin? I don't know if you're just insane, or like you said you can't think properly when it comes to investing, but that's too much of a risk for your father to handle. I'd say if you really want your father to invest into Bitcoin, don't invest a huge amount.

It's not your money, but your father's. For sure your father wants to enjoy the money that he got from his retirement, so obviously he will spend some of it to buy anything he wants. Anyway, if I'm your father I will not risk half of my money just to invest into something that's very risky. I'd suggest to let him decide what he wants to do with his money, but on the other hand, ask him some question that is related not only with Bitcoin, but investing in general, but I doubt that your father will risk half of his hard-earned money, and invest it into Bitcoin unless you will force him to do it.