He wants to Invest in Bitcoin for His Retirement.

[Findingnemo]

He is investing for retirement while retiring, Ironic though.

No matter if he invest on Bitcoin or anything else it is not really what he wants because it looks like he needs something for his monthly bills when he no longer recieve his salary for that he should have invested a lot earlier whether in Bitcoin or anything now he can enjoy it's benefit but now it's too late so he can only do one thing which is find another gig that let seniors to work as well.

Investing comes with the right investment and great timing. With this, the pastor is in the right track investing in bitcoin but the timing isn’t right as he should have invested 5-10 years ago so he can be enjoying his profits at this moment. Also, one should only invest after knowing the nature of investment well, but it seems this pastor is not knowledgeable enough concerning bitcoin and how volatility works in it. Even if the timing is right, the fact that he lacks the knowledge and understanding about bitcoin, he will still be at loss in the end.

If had invested a couple hundreds of dollars in Bitcoin before 10 months then he could be a millionaire now but it won't fit with every investment but now he is not really looking for any investment he just scared when realised he is not going to get his paycheck anymore so he just looking for a quick rich scheme and it's always bad thing to assume.

He could lack knowledge and still could have made it but he lacks time which can't be bought with anything at all.

[glendall]

Bitcoin is not the final choice for retirees, especially if a retiree does not have monthly input, unless he has a business you can invite him to invest, remember BTC is not a get-rich-quick business because if you want to make a profit you have to invest long term, if only short term It will just waste time without getting maximum benefits

[South Park]

A Senior Pastor (The Most Reverend in the Province) in my Church called me last week Sunday to see him after the Sunday service which I did. When I met him, he told me that he wanted to see me for a very long time. People have told him that I am good with bitcoin investment andalso teaching people in it. Thathe has three children and all have graduated from University but because of the way things are in the country, they have not secured jobs. And any moment from now he will retired. So he wants to invest online business if I know any. And I told him that I know of only one which is investing in bitcoin.

And I told him the two types of investment. Short term and long term and I suggested long investment for him but he said he likes the short term investment because he can feed from it and I told him that, he can't invest in bitcoin and still feed from it. He can't feed from it because if he does then he will be at the losing side so the best option is the long term investment.

And he said I should managed the investment for him and I told him that he should used one of his trusted children but I can only be a mentor, guidance and adviser to him and not to manage the investment for him. And I will introduce the DCA method of investment for him since he depends on the monthly stipend of the church. My problem here is, the time he is planning for his retirement investment is too close. It is just few months to his retirement and that is when he is serious about it. What was his plan for all these years in active service?

As it is, we have scheduled another meeting this Sunday again after the Sunday service. And if he is serious I will invest for him but I prefer the long term but as a age man, really he needs an investment that can brings feed to his table daily and that is why he was insisting on the short term investment buy that cannot do him anything base on the volatile nature of Bitcoin.

Your input can help this man through me.

The situation is complex but at the same time things are very clear, examples like the one you are giving are extremely common where I live, in which a person only thinks about their retirement once it is very close, just one question, are you a money manager? If you are not then you cannot manage the money of this person whether they want to invest short or long term, as it is likely illegal for you to do so, then you can only offer guidance, but even then if the pastor prefers the short term investment route then you need to be very clear about the risks he will take and how you want nothing to do with it.

[Rabata]

An investor has to worry most when it comes to investing in retirement assets. Generally a person loses his money but he can recover it through his work but when a person invests his retirement money it may not be possible to recover his loss. For those who are willing to take the risk or are able to take the risk through their control, the investment can definitely be profitable. Investing in Bitcoin is definitely profitable in terms of investment. But the investor needs to keep the money invested for a long period of time. If an investor can keep a part of his retirement money in Bitcoin for a long time then I am sure he will be profitable. Investing in Bitcoin is definitely less risky than other platforms.

[Agbe]

An investor has to worry most when it comes to investing in retirement assets. Generally a person loses his money but he can recover it through his work but when a person invests his retirement money it may not be possible to recover his loss. For those who are willing to take the risk or are able to take the risk through their control, the investment can definitely be profitable. Investing in Bitcoin is definitely profitable in terms of investment. But the investor needs to keep the money invested for a long period of time. If an investor can keep a part of his retirement money in Bitcoin for a long time then I am sure he will be profitable. Investing in Bitcoin is definitely less risky than other platforms.

I don't know if you really understand cryptocurrency (bitcoin) investment. Let me show you some of the examples. If some invest in bitcoin when the price is $73k and after the investment, the price comes down to $50k which he had lost 23% and at that time, he has to be patient and wait till the next bull market and when the price as surpass his or her previous investment capital then he can sell to get his profit and that can take some years but if because of fear of losing all to the bear market and he or she sell all at the losing price then the person lose all. And if the person is investing for a long term then he lose nothing but gain all. Nobody lose in bitcoin investment if the person understand what he or she is doing. Unless there is an emergency for the person to withdraw them at the bear market. Even the short term investment, people are making profit. What you have to do is calculative investment. And we advise people to invest for long term because of the profit and the miscalculative investment can lead to massive lose of the investor. Like example, if f some invest when bitcoin price reduced to $50k and he sell it at the rate of $68k, does he lose or gain? And is that a short term or a long term? Guy you have to understand what is bitcoin investment.

[Dread Pirate Roberts]

It sounds like you're in a tough spot trying to guide the pastor. I totally get his urgency, especially with retirement looming. It’s great that you’re offering to mentor him, but it’s also important to set realistic expectations. Short-term investments in Bitcoin can be risky, and he might not see the returns he needs right away. Maybe you could suggest a mixed approach? He could allocate a small portion for short-term trading while keeping the bulk in a long-term strategy. This way, he has a chance for some immediate returns without jeopardizing his future. It’s all about balancing risk and reward!

[Furious 7]

Honestly, it would be very difficult let alone giving the option to do it the DCA way.
When talking about pension funds then we definitely know how old he is at this time without us needing to guess he must have entered a fairly old age range and I think we are not wise if we advise those who have entered the retirement period to invest in DCA especially the focus is for the long term because even though we do not know about age and death but actually it is appropriate for those who are of retirement age it would be much better if they enjoy the results of what they have got from their previous jobs rather than still having to mess around with starting something new.
Investment is important but given the age factor we must realize that it is not the right choice to provide a long-term investment option let alone do it with DCA because it is certainly a much longer option than they imagine.

[Zoomic]

The old man needs a more stable source of income where he can feed from too since he specifically stated that he needs an investment that he can withdraw from regularly to settle personal needs. This is an old man who is willing to put in his all in bitcoin hoping to get a stable source of income within a short period. He is not investing what he can afford to lose and may not be able to bear it if things do not go as he expects them to be.

Kindly decline the offer of introducing bitcoin to him, recommend other less risky investments with stable returns or refer him to a financial consultant where he would get professional advice on very good retirement plans. You would be saving yourself some future stress if you let him understand why bitcoin might not be a better option for him.

[GiftedMAN]

Kindly decline the offer of introducing bitcoin to him, recommend other less risky investments with stable returns or refer him to a financial consultant where he would get professional advice on very good retirement plans. You would be saving yourself some future stress if you let me understand why bitcoin might not be a better option for him.

I agree with you. The old man has already stated what he wants to do with the money in terms of the kind of investment he is interested in investing I think the best thing is to advise him to try another business or investment that can be giving him weekly or monthly returns.

Bitcoin investment can not give him what he is looking for because it is not an investment where you expect to get returns on regular basis so I urge the Op to discourage the man from investing in Bitcoin because he will regret it when he doesn't get back the profits that he wants.

[GeorgeJohn]

Bitcoin is not to be introduced to someone who can not be the risk, if its a young man that's not up sixty years I will acknowledge the fact that you should show him the strategy it can apply to invest in bitcoin. But since its advanced and it has retired I think that best to do is establish a car wash business that he can handle properly not to venture into bitcoin investment that has consistent regulation in price, but any youth that can bear loss for investing in bitcoin can be embrace to invest in bitcoin because of its risks that's attached to the investment.

[Nrcewker]

Tell him it will take time to show results. You can’t get the profits or money instantly after investing. Quick money means it will come with huge risk. If the man is willing to take huge risk now at the point of retirement, then definitely he should try short-term investment. But if he wants low risk and low reward for a longer period of time, then investing for the long term will be the ideal deal. Say him to DCA at least for 4 consecutive years. At the end of 4 years, I am sure he will have enough money to live his ideal retirement life.

[Dr.Bitcoin_Strange]

If he is looking for an investment where he can feed from then he should open a retail trade and employe someone that can be doing the sales, while he will stand as the manager, even if he must invest some his retirement fund into Bitcoin, I suggest you advice him to start a retail trade that can be earning him profit consecutively. That's only when he can be able to hold his Bitcoin for a long time. Like you already said, if he only rely on the Bitcoin, you might end up to sell the Bitcoin during price dip.

[Gladitorcomeback]

If he is looking for an investment where he can feed from then he should open a retail trade and employe someone that can be doing the sales, while he will stand as the manager, even if he must invest some his retirement fund into Bitcoin, I suggest you advice him to start a retail trade that can be earning him profit consecutively. That's only when he can be able to hold his Bitcoin for a long time. Like you already said, if he only rely on the Bitcoin, you might end up to sell the Bitcoin during price dip.

I agree with that. If he has enough money that he can use to start a small retail business or any other business that can earn him regular revenues then it is better for him and his family. If he has some savings apart from the monthly stipends he gets from the church, he can invest a quarter of his savings in Bitcoin for long term and use the remaining funds to set up a small business, and he doesn't even need to hire an employee to take care of the business because he has children who can take care of that when they don't have any jobs.

Since the pastor and his children do not know about Bitcoin and cryptocurrencies, it wouldn't be a good idea to make them start making investments for the short term because that would require them to understand the market and become regular traders so that they can buy and sell Bitcoin or other cryptocurrencies for small profits.

A simple long-term investment should be good because they can sell their assets at a later time when the market is higher than where it is right now and meanwhile, they can earn their kitchen income from the small business they will start.

[Reatim]

And I told him the two types of investment. Short term and long term and I suggested long investment for him but he said he likes the short term investment because he can feed from it and I told him that, he can't invest in bitcoin and still feed from it. He can't feed from it because if he does then he will be at the losing side so the best option is the long term investment.

It seems like he wants to earn from crypto for his daily needs. In that case, long-term investment wouldn’t help him. Trading is the most obvious choice. It would depend on his skills and how good he is with technology. Even at an old age, I still believe anyone can learn trading given that they have some basic technology literacy skills already. Otherwise, you’d have to start at 0.

And he said I should managed the investment for him and I told him that he should used one of his trusted children but I can only be a mentor, guidance and adviser to him and not to manage the investment for him.

It’s good that you declined. Not only will it give you extra responsibility, it is just unwise as if something goes wrong surely the blame will be passed on to you. You can just teach onenof his children who I am sure are more fit to be trading than him.

What was his plan for all these years in active service?

Unfortunately he might have thought his children would be the one to keep his daily needs. But since they are all struggling he has no choice but to be the one to find work again. My suggestion would be to have one of his children learn about crypto and trading instead of him. He can still invest long-term but he will only be losing money if he were to do short term.

[LDL]

Bitcoin Vs RWA, Comparing the two certainly makes it easier to figure out how reasonable it would be for an old man to invest in Bitcoin. Let's think about how reasonable it is for a retired officer to invest in virtual currency. It seems more reasonable to me if he invests in land, gold or real estate instead of Bitcoin. Investing in real world assets is not as risky as Bitcoin but the profits are not as high as Bitcoin but the investment is not at all risky.  So it is very difficult to give any honest advice on investing in Bitcoin to retired executives. Keeping them in gold, real estate, or fixed deposits in banks will not reduce any security in providing financial security in their later life.

[Fiatless]

If he is looking for an investment where he can feed from then he should open a retail trade and employe someone that can be doing the sales, while he will stand as the manager, even if he must invest some his retirement fund into Bitcoin, I suggest you advice him to start a retail trade that can be earning him profit consecutively. That's only when he can be able to hold his Bitcoin for a long time. Like you already said, if he only rely on the Bitcoin, you might end up to sell the Bitcoin during price dip.

It will be risky for a retiree to invest all his retirement benefits in Bitcoin. He can take this step if he has another reliable source of income after retirement. But if he doesn't, I suggest he divide these funds into long-term and short-term investments. He should consider taking a part-time job or establishing a business that will generate daily or monthly income to enable him to take care of his daily needs. Investing in Bitcoin should be a long-term plan where he would be willing to hodl for a minimum of four years. He should also make provisions for emergency funds, to cushion the effect of emergencies.    

[legendbtc]

No matter what his purpose of investing in bitcoin is, you need to make sure that as long as he can keep it for the long term and invest with money he can afford to lose, you can start teaching him. In addition, helping others is a good thing but you also need to consider before giving advice to someone, especially investment advice related to money. If your advice is not suitable for them, not only will they lose money, but you will also be implicated. It will be difficult for you to avoid getting a bad reputation or being criticized by them if their investment fails.

Bitcoin is worth investing in and you have made a profit but that doesn't mean everyone will make a profit by investing. So please consider before giving advice to anyone, especially public figures.

[Nothingtodo]

Investing in Bitcoin with retirement pension money is risky but encouraging everyone to invest in Bitcoin in old age is a really commendable initiative. But if there is another source of work and if he owns enough money, investing his pension money on bitcoins should not be risky as he will get huge profit returns at some point. But investing on Bitcoin gives the highest profit, on the other hand when the price of Bitcoin falls, investing on Bitcoin has the potential to face huge losses.

[avp2306]

If he is looking for an investment where he can feed from then he should open a retail trade and employe someone that can be doing the sales, while he will stand as the manager, even if he must invest some his retirement fund into Bitcoin, I suggest you advice him to start a retail trade that can be earning him profit consecutively. That's only when he can be able to hold his Bitcoin for a long time. Like you already said, if he only rely on the Bitcoin, you might end up to sell the Bitcoin during price dip.

It will be risky for a retiree to invest all his retirement benefits in Bitcoin. He can take this step if he has another reliable source of income after retirement. But if he doesn't, I suggest he divide these funds into long-term and short-term investments. He should consider taking a part-time job or establishing a business that will generate daily or monthly income to enable him to take care of his daily needs. Investing in Bitcoin should be a long-term plan where he would be willing to hodl for a minimum of four years. He should also make provisions for emergency funds, to cushion the effect of emergencies.    

What I think which is more better for that person stated by OP is to enjoy his retirement money used on things  that can make him satisfy and don't participate on any risky investment like bitcoin. If he really want to invest then he should think about other business that he can control. Like to create to a mini grocery in his place or invest his money on apartments or commercial space centers. With those kind of business I mentioned he could able to get passive income.

To risky to rush everything and if he lose for sure it might cost a lot for the person especially the money used came from his retirement plans.

If he's young and use his salary maybe its good to do that, we assume that investor is old so much better for him to stay away on bitcoin and choose the best for his welfare.

[HelliumZ]

If he is looking for an investment where he can feed from then he should open a retail trade and employe someone that can be doing the sales, while he will stand as the manager, even if he must invest some his retirement fund into Bitcoin, I suggest you advice him to start a retail trade that can be earning him profit consecutively. That's only when he can be able to hold his Bitcoin for a long time. Like you already said, if he only rely on the Bitcoin, you might end up to sell the Bitcoin during price dip.

Retail trade or employee someone, Can't support in any way for a retirement officer to train employees yes but it is reasonable for him to do retail trading if he can master the details of trading beforehand. But another thing is that if bitcoin is not legalized in his country then he cannot do all these activities even as a retired officer in this case he has to maintain his privacy. I think he is interested enough to invest in bitcoin because bitcoin is legalized in his country.  However, I don't understand how logical it would be to trade or train someone on Bitcoin at his age.