Bitcoin investment for the elderly.

[Liocen]

Imagine I am a person from the seventies. I know nothing about current technology and Bitcoin.
Hearing the talk of Bitcoin around, I felt that I also need to invest here.
Now what advice would you give me? Which advice will have the highest chances of profiting from investment if I follow it?

In my case, questions are very important for beginners. You should provide your best opinion here. So that the opinions are useful for those who want to start investing in Bitcoin.

[DubemIfedigbo001]

The normals bro, invest as much as you're willing to lose. You may not be working in your seventies, so I'll not be talking about income here but retirement benefits. You could carve out money you'll not be needing in like 5 years time or more and invest into Bitcoin. I may not recommend holding for a very long term since you're old and  age is a factor to consider when holding Bitcoin.

5 years is long-term and your investments is likely to be profitable by then and you can choose to sell off or keep holding.

[TokenTikas]

Imagine I am a person from the seventies. I know nothing about current technology and Bitcoin.
Hearing the talk of Bitcoin around, I felt that I also need to invest here.
Now what advice would you give me? Which advice will have the highest chances of profiting from investment if I follow it?

Great post bro, and realize that about the seventies. As a person from that decade, it is natural that I would understand less about bitcoin. However, you must first slowly understand how it works to invest in bitcoin. But now, everyone will be very interested in learning about bitcoin.

However, if he wants to invest personally, I would start with a small amount. Many will say that this investment is for the long term, but I would say that it never needs to be. If it is too much, it can be done for a maximum of five years. It would be good if he could do something like this and use the money for himself during his retirement.

[Donk1]

To put it short, Bitcoin is decentralized no government or authorities are in control of it unlike fiat currency. In Bitcoin you can either invest in long term goals or short term gains. Don't wait for the right time because there is no right time in investing in Bitcoin Learn to apply the DCA strategy dollar cost average.dont forget Bitcoin isn't a get rich scheme. Do not practice FOMO fear of missing out while others got rich because it can lead you down the drain. Don't invest more than you can afford to loss that is why You have to take your time to study and build your investment psychology. Have patience build your emotion, be ready for risk and losses. Don't play with your seed phrase or your private key. Be alert for scammers they are everywhere. Don't trust anyone As the main goal in crypto is to stay safe.

[CryptopreneurBrainboss]

Imagine I am a person from the seventies. I know nothing about current technology and Bitcoin.
Hearing the talk of Bitcoin around, I felt that I also need to invest here.
Now what advice would you give me? Which advice will have the highest chances of profiting from investment if I follow it?

My advice would be for him or her to invest their pension money in Bitcoin instead of using it to invest in other businesses in the country because of the state of how investment is in the country are poor. Bitcoin gives him a higher chance of making better return so he doesn't need to be scared or worried about all the negatives comments Bitcoin is recieving. The growth of Bitcoin so far should be a valid reason why Bitcoin should be the best place for them to invest, this will be my only words and it's left for them to decide.

[CryptSafe]

Bitcoin investment is a smart one to say, and as a matter of fact one can invest in Bitcoin and take control of it without any third-party getting involved in it. So far, advising an elderly person to invest in bitcoin is not bad but it would be better you should let them know the in and out of bitcoin and how it works, telling them about the volatility is very important so that they know in time if anything goes wrong becasue elderly people are prone to bp and such situation of loss always have a big side effect on them so it is good to prepere their mind before you tell them about the investment.

It is true that longterm holding has the potentials to generate good profit for them but let them know to not put in all their funds if they have no much sources of income, because if anything happens it would affect them so they should invest wih the money they would not have to get bothered about if anything goes wrong.

[DaNNy001]

Im not the type that would convince someone to do something thats beneficial to them, the only thing I would say to you for someone who is at that age is to have an investment because you are probably retired and no longer working, so you need something that can pay the bills...it would be your choice to either start up a long or short term investment...for most people that are retired they see no point in making an investment because they are old

[DiMarxist]

For elderlies to invest in bitcoin is always a thug of war because they want Sharp Sharp money and not long term investment. They would like to feed on that investment too which is not part of the plan on bitcoin investment. I dey talk this one from experience. Person called me say she want to invest in bitcoin and I told that di only way for her to make profit from the investment na long term. And she talk am say, she no dey do another thing so na di investment she go rely on. Nai tell say she no go fit do like dat.
Op since you dey interested to invest. Meet your trusted child and invest with him. Your children will use that to build the empire. I am saying because I don't know if you will enjoy your investment again or not. It is probability.

[Obim34]

My advice would be for him or her to invest their pension money in Bitcoin instead of using it to invest in other businesses in the country because of the state of how investment is in the country are poor. Bitcoin gives him a higher chance of making better return so he doesn't need to be scared or worried about all the negatives comments Bitcoin is recieving. The growth of Bitcoin so far should be a valid reason why Bitcoin should be the best place for them to invest, this will be my only words and it's left for them to decide.

What about those not receiving pension?

First directive is about the source of income, and financial hold of the individual. We are both in a country were we've seen people depending on pension to survive, also those who uses pension to start up or restructure business.

With two set of individuals, the first person can't take from pension to invest in Bitcoin, there needs to be establishment to cover up needs and household expenditures for the time before whatever was investment begins to make reasonable profits.

Any 70 years old, investing in Bitcoin should have their wallet backed up properly and also place it under inheritance.

[CryptopreneurBrainboss]

What about those not receiving pension?

Here's where my response was focused

Which advice will have the highest chances of profiting from investment if I follow it?

before you seek this type of advice you should already have the funds for the investment. If you don't have the capital yet then that should be your focus and not talking about what you want to invest into. I can't tell people where to get the money for investing, that's their responsibility but what I can do is to tell them how to invest the money they already have and for the pensioners that usually buy into the investment plans of the government, there's something better and that's investing into Bitcoin. With Bitcoin, they hodl the power to decide their future with just having patience with the market.

[Miles2006]

Imagine I am a person from the seventies. I know nothing about current technology and Bitcoin.
Hearing the talk of Bitcoin around, I felt that I also need to invest here.
Now what advice would you give me? Which advice will have the highest chances of profiting from investment if I follow it?

In my case, questions are very important for beginners. You should provide your best opinion here. So that the opinions are useful for those who want to start investing in Bitcoin.

Bitcoin investment is not a get rich quick investment where you get fast profit, bitcoin is a digital currency but investing doesn’t entail trade, as an elderly person you’ll have to understand the years range you’ll be holding before reaching the target. In some situations the money is not enough to cover up buying consistent which might tempt such person to sell everything either in loss more especially when you can’t predict the price, secondly your cashflow should be in order before investing probably a good management can help give a good return at due times, lastly invest without pressure as an elderly man, there’s no point running after market trends instead buy using the amount available either big or small.

[adultcrypto]

The normals bro, invest as much as you're willing to lose. You may not be working in your seventies, so I'll not be talking about income here but retirement benefits. You could carve out money you'll not be needing in like 5 years time or more and invest into Bitcoin. I may not recommend holding for a very long term since you're old and  age is a factor to consider when holding Bitcoin.

5 years is long-term and your investments is likely to be profitable by then and you can choose to sell off or keep holding.

Omor you see that line wey I make bold, e no dey correct abeg, na gambling get that scope. Why I go know say I go lose money and you dey tell me to still invest and even get mind call am investment? Risk wey dey untop bitcoin no reach where we go talk say person go lose him money kpata kpata, the price fit drop and you lose small if you no fit wait but that one no mean say all your owo don vamus. Me and u know say na only time e go take bitcoin to bounce back when e go down, so we should tell people wey wan invest to only put money wey them fit leave for bitcoin for as long as e go take to see better profit. Any body wey me dey tell about bitcoin, I dey tell am to buy and keep am for 10 years, say by then the investment go give am better gain.

[DubemIfedigbo001]

The normals bro, invest as much as you're willing to lose. You may not be working in your seventies, so I'll not be talking about income here but retirement benefits. You could carve out money you'll not be needing in like 5 years time or more and invest into Bitcoin. I may not recommend holding for a very long term since you're old and  age is a factor to consider when holding Bitcoin.

5 years is long-term and your investments is likely to be profitable by then and you can choose to sell off or keep holding.

Omor you see that line wey I make bold, e no dey correct abeg, na gambling get that scope. Why I go know say I go lose money and you dey tell me to still invest and even get mind call am investment? Risk wey dey untop bitcoin no reach where we go talk say person go lose him money kpata kpata, the price fit drop and you lose small if you no fit wait but that one no mean say all your owo don vamus. Me and u know say na only time e go take bitcoin to bounce back when e go down, so we should tell people wey wan invest to only put money wey them fit leave for bitcoin for as long as e go take to see better profit. Any body wey me dey tell about bitcoin, I dey tell am to buy and keep am for 10 years, say by then the investment go give am better gain.

You suppose dey aware say Bitcoin no get guarantee, although the risk dey very small, but nobody get any guarantee for their investment. I go still advise you make you no dey give people assurance for their Bitcoin investment. If the investment no go well, them go dey on your neck. Allow people to decide what they do, just introduce them to Bitcoin, and reason them wetin dey obtainable, but never give them any guarantee.

These old people suppose take as minimal risks as possible, that's why they should buy Bitcoin only with money they can afford to lose.

[Tungbulu]

One great thing about Bitcoin is that, anyone can invest in it, regardless of your financial status, age, or other qualities that may likely hinder you from investing in other ventures. as long as you have a discretionary income, then you've got all you need to start investing in Bitcoin. I believe before you indicated interest in investing in Bitcoin, you already got a source of income and of course a good cash flow, now all you gotta do is evaluate your situation, from your discretionary income to your overall financial situation, and then your risk tolerance level, evaluating these things will further help you to choose a suitable strategy to employ when accumulating bitcoin because your strategy needs to suit perfectly well with your unique situation.

usually, we advice newcomers to adopt and stick ti the DCA strategy, where you get to invest you discretionary income on a regular interval, could be weekly or monthly, depending on which sits well with your unique situation. let's assume you're 73, i believe you can accumulate for the next 5 to 10 year-ish, which is long enough for anyone to accumulate Bitcoin, and by the end of this period, even if you're unable to reach a state of overaccumulation, you'll at least be very close to it and that is something.

[Gost ms]

Investment is very risky, try to invest what you can afford to lose. As you said, if you are very old, then you may not have any source of income. Maybe you want to invest with your savings or if you get an allowance from the government, you want to invest some amount from there. But you have to remember that investment is for a long term like 7 to 10 years. You have to set a goal first and keep buying continuously until the goal is met. But you should invest with the amount of money that you do not need. Never invest with the amount that you need.

Along with investing, it is very important to create an emergency fund. Because you will need an emergency fund very much to protect your holdings during unexpected financial disasters.

[GIF-JOBS]

Investment is very risky, try to invest what you can afford to lose. As you said, if you are very old, then you may not have any source of income. Maybe you want to invest with your savings or if you get an allowance from the government, you want to invest some amount from there. But you have to remember that investment is for a long term like 7 to 10 years. You have to set a goal first and keep buying continuously until the goal is met. But you should invest with the amount of money that you do not need. Never invest with the amount that you need.

Along with investing, it is very important to create an emergency fund. Because you will need an emergency fund very much to protect your holdings during unexpected financial disasters.

People should invest with money according to their ability to lose, because even if you manage everything correctly, an investment will not guarantee success, every matter involves risk, and decisions must be made through risk management, which will reduce the risk but will never bring guarantee. This is also very applicable to Bitcoin investment, the future of Bitcoin has a very high probability, but there is no guarantee, and considering this, an investor should invest an amount of money that is not important to him.

[AmaGold70]

Imagine I am a person from the seventies. I know nothing about current technology and Bitcoin.
Hearing the talk of Bitcoin around, I felt that I also need to invest here.
Now what advice would you give me? Which advice will have the highest chances of profiting from investment if I follow it?

In my case, questions are very important for beginners. You should provide your best opinion here. So that the opinions are useful for those who want to start investing in Bitcoin.

Being born in the seventies doesn't make you too old yet so my advice for an elderly person that wants to invest in Bitcoin is to think of it as a retirement plan, invest now and hold on the long term goal and by the time you will be due for retirement, your Bitcoin investment would have been matured enough to fund your retirement lifestyle. And I would also advice them to look deep and research more on Bitcoin about the risks  and how it works, the industry is wide and of course the long term goal may be the best way to invest but you have to be on the lookout for the sake of your hard earned money, and I would advice them not to invest if they can't stand the heat of fall in price because Bitcoin investment isn't for the faint hearted.

[sokani]

Investing in Bitcoin no get age limit. Elderly person fit invest and the advice nah the same as e be for young person. Make dem invest the money wey dem no go fit afford to lose. Bitcoin no be scam so definitely their investment go generate good returns after some years. But based on say age no dey their side, e make sense make dem disclose the seed phrase to a trusted family member incase dem kpai, so dat the person go fit spend the bitcoin.

[Agbe]

One thing you need to note is that not everyone from the seventies are outdated so if any elderly person wants to invest there is nothing wrong with an elderly person investing in Bitcoin it's just in this part of the world were people will call themselves elderly and will like to oppose anything that is new and not known in their times as scams or will be advising the younger once to be careful with things that they are known used to so to me it's left for the person involved to allow someone younger and is enlightened about crypto to school him or her so that such a person can start investing.

[Lembo69]

Investing is not about age. You can invest at any age, whether it is 70 or 80, if he does not know about Bitcoin, then how long will it take to learn. If you want to learn, you can learn anything. When you are older, you can focus more on that time because then you will not have any other work pressure. He will start checking his wallet and think about how to maintain his investment. And once he understands and knows about Bitcoin and starts investing, he will only think that he should have invested earlier. But I think investment has nothing to do with age. Because a person can invest at any time. Kiptbazar does not care about age. You can invest in Bitcoin at any age as long as you have interest in investing money and investing.