A bitcoin retirement plan with a disturbing length of years.

[tread93]

I have this colleague of mine at workplace who is a bitcoin enthusiast just like me. Often times at work when we're less occupied with our job we kind of spend such moment's  discussing about bitcoin generally. Two days ago he was telling me about his plans to start buying BTC with 20% of his salary every month for the rest of the years he has to retirement that's when he will then take it all. And based on the company total years of service he has 16 years left to his retirement.

With the way he was talking to me about it he appears to know exactly what he's about to do and how its going to end for him. But for me his idea has left some apprehension and questioning in my head due to the length of years (good 16 years) he is going to keep up with. From my angle the years are too much as no one can certainly say for sure about what the future of cryptocurrency and bitcoin holds despite how positive it could be looking today.

In my opinion I wanted to talk to him with a logical conclusion why he should reduce the length of years, not to do it at a stretch of straight 16years he has in mind without applying risk management technique, maybe by splitting those 16years into four interjecting years. As in he should in every 4 years be taking 50% of whatever total amount plus profit  till it gets to the 16years he planned. At least in worst case scenario this method could save him something reliable to fall back onto.

How do you guys think about this idea of mine for my colleague? Can it really be helpful to him in the long run or it may just obstruct his original plan killing the whole idea?  Please all opinions are entertained but whatever your opinion might be, also try to put the length of years involved into consideration.(16 years)

Honestly, when it comes to giving financial advice do so with a 50 lb dumbbell in your hands and act as if you're giving that dumbbell to whoever is getting your advice. But also, I always say don't ever hold back what you need to say, if you absolutely must. I honestly think this guy has a great plan that could pay off very well for him down the line.....

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[KiaKia]

There was a time when 4 years look like an eternity to me, that was when I am young, even for a year to go by looks like it's going to take forever, but when I grow older I realize that years are nothing when you have a dream and you are pursuing that dream, years will flew past you like it's nothing.

If your friend believed in this dream then it's possible that things will go his way, what we most lack is faith is what we do, if your wife or lady get pregnant and give birth to a baby, you have a responsibility and brother, it's going to feel like yesterday when your baby turn 10years old, time can be very deceiving if you don't have faith in yourself.

It's true that in the next 16years anything can happen, but he is alive and that's all that matters right now, if things are going to get ugly for Bitcoin, something new will come up first and we will know what the future of Bitcoin is looking like.

[Blitzboy]

There was a time when 4 years look like an eternity to me, that was when I am young, even for a year to go by looks like it's going to take forever, but when I grow older I realize that years are nothing when you have a dream and you are pursuing that dream, years will flew past you like it's nothing.

If your friend believed in this dream then it's possible that things will go his way, what we most lack is faith is what we do, if your wife or lady get pregnant and give birth to a baby, you have a responsibility and brother, it's going to feel like yesterday when your baby turn 10years old, time can be very deceiving if you don't have faith in yourself.

It's true that in the next 16years anything can happen, but he is alive and that's all that matters right now, if things are going to get ugly for Bitcoin, something new will come up first and we will know what the future of Bitcoin is looking like.

Time, aint it the ultimate illusion? As kids, its slower than a lazy Sunday. Then, boom! We age, and its off like a SpaceX rocket. Dreaming big can make time feel as irrelevant as a flip phone in the iPhone era. Engulfed in a passion project, decades blur into a TikTok video. Yet, your faith-time link, though lyrical, isn't a perfect hit. Faith, crucial as the WiFi password, isnt success's lone key. In the Bitcoin galaxy, faith is paramount but navigating its roller-coaster ride demands savvy.

If something nasty knocked Bitcoin down? A reality check, indeed. Still, blockchain - the decentralization, transparency, immutability - would survive, like memes in the internet age. Lets zoom in on these evergreen aspects, not Bitcoin's swinging fortunes.

[Z390]

I planned to hold Bitcoin this long too, I don't see myself leaving crypto space in the next 20 years because I am already planning a future around crypto, I could end up buying expensive Asic miners soon to start mining Bitcoin, I believe Bitcoin has passed the stage where we can say that it won't like exists in the next 16years, so it's better to follow the same step as your friend..

10years ago, many people don't ever dream that Bitcoin can one day be prices at 30,000$ and the same thing will happen in future where those who look at Bitcoin as overpriced today will regret not buying now when Bitcoin is price at 200,000$, you still think it's impossible? You are not alone, there are many people thinking the same thing.

You will be shocked how much money your friend will be worth in the next 16 years and you will regret not following him all along, you said he invested 20% of his salary? How can that even hurt him if Bitcoin fails?

[JoyMarsha]

Your friend has had his future well planned, and it is destined to pay him big in the future if he should maintain 20% of his salary for 16 years left for retirement.

In 16 years, it's about 4 halving bitcoin. As expected bitcoin increases in every halving, so in 4 halving from today, bitcoin can skyrocket far more in price than we can expect. Although none of us knows the exact price it will be by then. whether it will be above or below $ 2 million.

Your logical idea is quite okay but allow your friend to do what he feels like doing by taking off 20% of his salary every month. Your friend is just trying to build a solid ground for his old age when he will be less agile to work and provide for his family. Let him sacrifice a little now that he has a few more years to work.

[Ale88]

I have this colleague of mine at workplace who is a bitcoin enthusiast just like me. Often times at work when we're less occupied with our job we kind of spend such moment's  discussing about bitcoin generally. Two days ago he was telling me about his plans to start buying BTC with 20% of his salary every month for the rest of the years he has to retirement that's when he will then take it all. And based on the company total years of service he has 16 years left to his retirement.

With the way he was talking to me about it he appears to know exactly what he's about to do and how its going to end for him. But for me his idea has left some apprehension and questioning in my head due to the length of years (good 16 years) he is going to keep up with. From my angle the years are too much as no one can certainly say for sure about what the future of cryptocurrency and bitcoin holds despite how positive it could be looking today.

In my opinion I wanted to talk to him with a logical conclusion why he should reduce the length of years, not to do it at a stretch of straight 16years he has in mind without applying risk management technique, maybe by splitting those 16years into four interjecting years. As in he should in every 4 years be taking 50% of whatever total amount plus profit  till it gets to the 16years he planned. At least in worst case scenario this method could save him something reliable to fall back onto.

How do you guys think about this idea of mine for my colleague? Can it really be helpful to him in the long run or it may just obstruct his original plan killing the whole idea?  Please all opinions are entertained but whatever your opinion might be, also try to put the length of years involved into consideration.(16 years)

Reading your post it looks like your final goal is to change your colleague's mind and, for me, that is a very bad move because we are talking his money. It's totally fine for you telling him about your concerns and what you would/wouldn't do, but don't push it too much because if for any reason he decides to listen to you and at the end you were wrong, well, I wouldn't like to find myself in that situation.

[sokani]

Two days ago he was telling me about his plans to start buying BTC with 20% of his salary every month for the rest of the years he has to retirement that's when he will then take it all. And based on the company total years of service he has 16 years left to his retirement.

First, taking 20% of his salary to buy bitcoin is a good investment plan as the rest of the money can be utilized for other purpose. 16 years is a long period of time and I think it can be achieved if the person actually puts his mind to it. There's only one issue... Buying bitcoin every month for 16 years means yours friend is going to experience 3 bitcoin halvings and personally I wouldn't want to buy bitcoin during the bull season. I don't know how financially disciplined your friend is but during the bull season, I would like to suggest that he sets out an account and be sending the 20% into it and when the market is bearish, he can take advantage of it and invest the savings and continue the process. When the market is bullish again, he does the same thing. It doesn't change the 16 years plan, it will only help him to maximize the seasons and make more profit.

[posi]

I planned to hold Bitcoin this long too, I don't see myself leaving crypto space in the next 20 years because I am already planning a future around crypto, I could end up buying expensive Asic miners soon to start mining Bitcoin, I believe Bitcoin has passed the stage where we can say that it won't like exists in the next 16years, so it's better to follow the same step as your friend..

10years ago, many people don't ever dream that Bitcoin can one day be prices at 30,000$ and the same thing will happen in future where those who look at Bitcoin as overpriced today will regret not buying now when Bitcoin is price at 200,000$, you still think it's impossible? You are not alone, there are many people thinking the same thing.

You will be shocked how much money your friend will be worth in the next 16 years and you will regret not following him all along, you said he invested 20% of his salary? How can that even hurt him if Bitcoin fails?

Those who are profiting from bitcoin will think that they will never leave bitcoin because of the benefits it brings. But it's hard to say we'll continue with it for the next 20 years, life is always full of surprises, and we never know what will happen. 16 years is indeed a very long time, and it is difficult to predict anything. In the future, I believe that if we discover a market with more potential than bitcoin, we will soon abandon bitcoin and run for new things. Humans are like that, always pursuing things that benefit themselves, so there is no need to affirm or declare anything.

[Gozie51]

I want to ask if it's good for somebody to use half of it's saves to invest in bitcoins, will the person make it in bitcoins industry or it's good for someone to start small in bitcoin investment with little capital because of lose that is involve for Bitcoin investment,

It is better to do your bitcoin investment gradually and not to be greedy about it to put as much as half your savings into it.  In the market, no doubt there are ups and downs so you need some reserve to be able to do some other expenses that will come your way while your bitcoin investment is running. Like they say invest with the money you can forego incase it doesn't come back to you in profit. However bitcoin is the most guarantee in the cryptocurrency investment but do it wisely and not greedy, life is a step after another.

[thecodebear]

I have this colleague of mine at workplace who is a bitcoin enthusiast just like me. Often times at work when we're less occupied with our job we kind of spend such moment's  discussing about bitcoin generally. Two days ago he was telling me about his plans to start buying BTC with 20% of his salary every month for the rest of the years he has to retirement that's when he will then take it all. And based on the company total years of service he has 16 years left to his retirement.

With the way he was talking to me about it he appears to know exactly what he's about to do and how its going to end for him. But for me his idea has left some apprehension and questioning in my head due to the length of years (good 16 years) he is going to keep up with. From my angle the years are too much as no one can certainly say for sure about what the future of cryptocurrency and bitcoin holds despite how positive it could be looking today.

In my opinion I wanted to talk to him with a logical conclusion why he should reduce the length of years, not to do it at a stretch of straight 16years he has in mind without applying risk management technique, maybe by splitting those 16years into four interjecting years. As in he should in every 4 years be taking 50% of whatever total amount plus profit  till it gets to the 16years he planned. At least in worst case scenario this method could save him something reliable to fall back onto.

How do you guys think about this idea of mine for my colleague? Can it really be helpful to him in the long run or it may just obstruct his original plan killing the whole idea?  Please all opinions are entertained but whatever your opinion might be, also try to put the length of years involved into consideration.(16 years)

Sounds like he has a solid plan. I don't see anything wrong in the length he is doing it. Bitcoin is hard money, and therefore will hold and appreciate in value over the long term. Buying Bitcoin long term IS his risk management technique. He is basically just saying he's gonna save 20% of his income every year long term into the best and safest wealth growth vehicle in the world. I don't see what could be wrong with that. That is very smart. The only way I could see to improve it would be to tell him to skip every fourth year (the bull run years) and save up that 20% in cash to buy with double his normal amount the following year (the crash year), at least for as long as the bitcoin four year market cycle continues to be significant.

[buwaytress]

When you've got a kid who's 18 and ready to shoot off to college/uni with all kinds of expenses racking up, along with inflation, coupled with parents reaching ripe golden age that also requires increasingly taxing medical expenses -- and you don't come from a welfare state (I'm guessing the way you phrase retirement without a mention of pension means you're not from one), then 16 years is not disturbing, it's probably the least you can do to be responsible.

Personally, I hope I have a long and healthy life to be DCA-ing in 2040 but 20% of salary should set him up for life.

What's disturbing for me is if it's all-in. I'm all for Bitcoin but I'd really recommend setting aside even 10% of his salary for a sizable insurance/pension plan while he's not too old to get one. Too risky to just dump everything into Bitcoin, really.