He wants to Invest in Bitcoin for His Retirement.

[dunfida]

"Investing in Bitcoin for retirement? Well, that's one way to keep the faith strong! 😅 But tell the pastor that Bitcoin might be a bit too volatile for divine intervention—he might need more than a prayer to retire comfortably! 🙏📉"

Since the pastor is getting retired bitcoin shouldn't be the first plan.  He is getting retired and where he normally make money from he won't be getting it again,  that source is already close. It will be better for him to think about how to create income first either by doing business that can give him income everyday. If having a steady income is achieved then he can think of investing bitcoin.  It does not make any sense that someone is getting retired and he is just making plans to invest bitcoin,  the truth is that he is thinking bitcoin can be is next source of income or a career line to depend on.

You might be right, but I didn’t consider that he’s allocating all his money to this. Still, he likely has some funds available while he waits for his Bitcoin investment to start generating returns. Plus, we can assume he’s getting a monthly pension, which I believe was enough to cover his daily needs. However, he really needs to think this through thoroughly because investing in crypto is too risky, and he could lose money with just one mistake. If he doesn’t have a proper understanding of it, it might be smarter to invest in something he knows better.
Of course, we’re still encouraging him to explore this interest since we all know how profitable it can be, despite the risks involved.

Yeah, he should have a backup plan for sure knowing the market and it's secrets that can happen from time to time
Though it's noble to try investing into BTC nontheless.It just should be done responsibly.

We do know the golden rule when it comes to investing on which you shouldnt really be that making use or investing on the amount on which you cant afford to lose. We do know that investing on crypto would really be attached in too much volatileness of your investment on which if you dont really like on losing money or seeing deep reds that might give out that kind of impulsiveness, then it would really be that just right that you shouldnt really be investing all the money that you do have. Making up some diversification as much as you could on which it isnt really just that limited on crypto investment alone but also touch up some traditional
investments on which this would really be able to potentially be able to reach up those goals or targets that you are really that wishing to achieved on. Investing on crypto or Bitcoin with your retirement is really that bit risky. Why? There's no assurance about success or pump up in the future. What if it would go south? and this is really that your last resort on having a comfortable living or life on your old years or senior?
This is why it will always be that recommended on having always that back up plans on which this will really be that recommended because always having back up plans will really be giving out that kind of edge
or advantage in comparing into those people who do have none.

[Nothingtodo]

After retirement, a person usually has reduced work efficiency to a great extent, so he is not in the mood to work hard, so he has to choose some business where his physical effort will be much less. In this respect if a retired officer is willing enough to invest in Bitcoin and is prepared to take all the risks then he can definitely invest in Bitcoin if his retirement allowance is sufficient.

[Wakate]

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.

What input are you interested to hear from us? You mean we should advise you are your pastor to engage in cryptocurrency business with congregation funds? I will never concur to this and you know that such a fund is of the Lord and you are trying to lure him to invest in cryptocurrency when you don't have a thing to show about it. There are so many risks involved in cryptocurrency and maybe you don't have the idea and what it takes for the church funds to be invested in cryptocurrency when you obvious know that the price of Bitcoin can falls, taking a very long time before it could continue the bull movement. Why will a pastor invest with God's money when their are so many people suffering with food in their tables.

[Orpichukwu]

Since the pastor is getting retired bitcoin shouldn't be the first plan.  He is getting retired and where he normally make money from he won't be getting it again,  that source is already close. It will be better for him to think about how to create income first either by doing business that can give him income everyday. If having a steady income is achieved then he can think of investing bitcoin.  It does not make any sense that someone is getting retired and he is just making plans to invest bitcoin,  the truth is that he is thinking bitcoin can be is next source of income or a career line to depend on.

Now are days churches are more business-minded than how they used to focus on only preaching and doing the work of God, which means that even if the pastor is no longer leading in that church as an active pastor, that does not stop the church from giving him his share of the revenue the church will be getting on a monthly basis. That being said, we can see that he still has a source of income. 
 
If that won't work, he will still have those who will be coming to thank him with gifts and money that will sustain the family (those can also be considered as resources). If he really wants to invest in Bitcoin, he can also still do it and still have some money to set up a little business, which the family can be getting daily income from for their daily expenses.

[red4slash]

After retirement, a person usually has reduced work efficiency to a great extent, so he is not in the mood to work hard, so he has to choose some business where his physical effort will be much less. In this respect if a retired officer is willing enough to invest in Bitcoin and is prepared to take all the risks then he can definitely invest in Bitcoin if his retirement allowance is sufficient.

The problem is in terms of time in the end because even though it is still quite feasible when in bitcoin but we know that in the end the ideal situation to be in bitcoin is long-term so when only expecting investment to get monthly income in bitcoin I think it is not very effective because we must be aware that investing in bitcoin is not as simple as saving money and getting dividends every month.

So there needs to be more understanding of this because as you say they are retired sometimes just trying to maintain productivity at the final level when efficiency in work weakens so in this case they will not be able to be in the long term when in bitcoin. Even if they do see the risk and it's okay to do that, the thinking should be more open when a retiree wants to invest in bitcoin unless their intention is longer term and it doesn't matter even if they don't get results because there are successors who are ready to continue.

[taufik123]

-snip-
Investing on crypto or Bitcoin with your retirement is really that bit risky. Why? There's no assurance about success or pump up in the future. What if it would go south? and this is really that your last resort on having a comfortable living or life on your old years or senior?
This is why it will always be that recommended on having always that back up plans on which this will really be that recommended because always having back up plans will really be giving out that kind of edge
or advantage in comparing into those people who do have none.

Maybe by doing some good management on their retirement money can be a good way out.
For example, only 50% is invested in Bitcoin and the remaining 50% is used to invest elsewhere or build a business that can provide good passive income.

Bitcoin is indeed high risk because of its uncontrollable volition, but it can provide greater profits and see how someone who bought and held Bitcoin a few years ago and then sold it today. It provides tremendous advantages.

[Finestream]

After retirement, a person usually has reduced work efficiency to a great extent, so he is not in the mood to work hard, so he has to choose some business where his physical effort will be much less. In this respect if a retired officer is willing enough to invest in Bitcoin and is prepared to take all the risks then he can definitely invest in Bitcoin if his retirement allowance is sufficient.

Anyone is actually free to invest his retirement funds to any potential investment that he likes, but the question is, would he be willing to risk his hard-earned money and wait for long years before he can make sustainable returns? That would be easy to tell but if you're in actual situation, you will definitely experience hesitation most especially that we are talking here about a high risky and volatile investment, wherein you can lose your money anytime if you end up even with a single wrong decision in your life.

[Miles2006]

Advising at this point is really a big deal firstly he lacks the bitcoin knowledge secondly bitcoin investment is never suitable for retirement benefit although bitcoin investing can stand as an asset when he/she has another source of income but, whereby anyone is viewing bitcoin investment as a retirement business is making a mistake. It would have been more better if he had this investment earlier seeing bitcoin price now shows he can’t invest a quality amount with that mindset.
If the money is huge I will advice another investment plan aside bitcoin, an investment that will earn quick profits like physical properties, bitcoin investment is a long term investment that needs more planning for long that’s why I will suggest something else rather than seeking for quick profit with lose.