Bitcoin investment for the elderly.

[osasshem]

If we are looking the age of 70-80 years, there won't be any more income flow, but rather, retirement benefits (if any). At this age, investment is no much a priority, cause age is far spent, and when it comes to investing in crypto currencies, Bitcoin is one and of which is best for the long term.

Also, such aged person, might not have the fluency is going through the market patterns on how to go around it, in terms of taking profits and buying at the deep.

The bottom line for this, should be for his/her children's benefits in life, cause for him, I don't think money is much important compared to family at this point. So, whatever he does related for money, is no more for him, but for his family.

IMO

[Makus]

Even if people use bitcoin as their retirement fund na still one of the best decision  be that because bitcoin in just how many year back don move with a significant increase, so just imagine person wey put em money for there dey hope for am to increase and the example wey op give na person wey dey em 70s. That kind person no get much problem again besides if em plan well at that age na em children don supposed  to dey support am while if em make that bitcoin investment  move so, na added advantage to am but most people at that age for this country dey see all this digital things as scam, they prefer to keep their money for bank wey dem go fit access easily.

[fredericktaylor]

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.

It is true that a person does not have the opportunity to earn after the age of 70, only retirement profits are available. Since there is no opportunity to earn a certain income, the extra money can be invested in Bitcoin, excluding the necessary money. If you invest the money that you will not have to face financial problems if you lose it and be patient, you can expect results in the future. Newbies need to understand that investing in Bitcoin with patience, the right approach, and a long-term plan can yield good long-term results.

[PremiumcryptoHub]

It is normal that people in the seventies did not have the technology and infrastructure needed to invest in Bitcoin and learn about it so I guess they may not have imagined this invented currency in the past but now they can invest in it if they have pension money. Look investing can be done by young people and people in their seventies today, however they need to understand, Even setting aside money for daily expenses. If you want to invest after hearing Bitcoin discussions from others, first consider that it is not a get-rich-quick scheme. There may be no limit to investment, but we still need to maintain financial liquidity. The country's investment situation is bad, so my advice is to invest in Bitcoin.

[Jubilee58]

At this age of seventies one can still invest in bitcoin and still make some profit from it.But in this case investing for a long period of time may not be advisable. As a novis at the age of seventies leaving your investment for a period of ten to twenty years may not be conducive for you unless otherwise the bitcoin investment is for your children or grand children, in this case long time investment is okay .

[Makus]

At this age of seventies one can still invest in bitcoin and still make some profit from it.But in this case investing for a long period of time may not be advisable. As a novis at the age of seventies leaving your investment for a period of ten to twenty years may not be conducive for you unless otherwise the bitcoin investment is for your children or grand children, in this case long time investment is okay .

Yes dem go fit still invest in bitcoin because bitcoin na for everybody, no be for just some selected persons but the problem is that all these are old people dem no like all this digital world things them, dem Prefer to dey see their money in fait make e dey readily accessible and na there the problem dey. Well i no too blame them because  no be everybody go like bitcoin and it's  unfortunate they are among the persons that do not get to use the wolrd most precious coin even while they're still on earth.

[WhoYouCantKill]

When it is a beginner without a background, my best advice would be: purchase just that which you can afford to hold in the long-term, and be able to keep complete charge over it through protecting your own wallet without leaving it on exchanges.
Bitcoin's worth goes up and down very often, but based on history, those that patiently hold through the swings do well. Therefore the best chance of profiting is from safely holding and thinking for years, instead of days.

[Odogwu-Blockchain]

Older person had already known what investment is, even if they doesn't have any investment somewhere, they had had experiences, learnt from own and others mistakes, heard stories, similar occurrence about investment and failure happening around them to the point they get used to negative news as it does nothing to them anymore, it's become part of leaving.

These oldies view of money is different from yours, they are deep thinkers and so would take more time for them to execute any investment policy and how it works.

Everyone dream is financial freedom where you no longer work for money but money works for you, that's the advise you can give an older person into Bitcoin, at his retirement age, he could be sitting, sleeping while money doing the work for him, that's a weird world to this old gen, they love to be part of it.

[Y3shot]

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.

Since you are just getting to know about bitcoin,  I will advice you to take your understand it first. First thing you need to know about is that bitcoin doesn't make one to become rich, bitcoin is longterm investment and it is volatile.  If you want to invest bitcoin you need to understand that you can not rely on bitcoin investment.

As a beginner you don't need a big amount to start investing in bitcoin,  you can always start small.  You also need to understand the volatility of bitcoin,  the price of bitcoin drops , it should be a problem to you , just be patient because the price will definitely come up again.  Volatility is always a problem for beginners because they misunderstand. It is a problem for bigenners I buying and hodling. As a beginner you also need to understand that their is no late time in investing bitcoin.

[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.

Since you are just getting to know about bitcoin,  I will advice you to take your understand it first. First thing you need to know about is that bitcoin doesn't make one to become rich, bitcoin is longterm investment and it is volatile.  If you want to invest bitcoin you need to understand that you can not rely on bitcoin investment.

As a beginner you don't need a big amount to start investing in bitcoin,  you can always start small.  You also need to understand the volatility of bitcoin,  the price of bitcoin drops , it should be a problem to you , just be patient because the price will definitely come up again.  Volatility is always a problem for beginners because they misunderstand. It is a problem for bigenners I buying and hodling. As a beginner you also need to understand that their is no late time in investing bitcoin.

Is this advice applicable to people of all ages? Actually, I mean, how would you advise those of us who are young (20-40) and those who are over 50 to save money in Bitcoin since they are not as familiar with technology as the younger generation.

[Y3shot]

Is this advice applicable to people of all ages? Actually, I mean, how would you advise those of us who are young (20-40) and those who are over 50 to save money in Bitcoin since they are not as familiar with technology as the younger generation.

Yes, the advice is applicable to anyone, and when it comes to Bitcoin, it doesn't discriminate based on age or background. Everyone can invest in Bitcoin; there is nothing too difficult for those who are not familiar with technology to invest in Bitcoin.

The main thing is to have a good non-custodial wallet and to understand security and privacy (handling of the seed phrase). With this, you are good to hold Bitcoin. You don't need to do anything technical while you invest in Bitcoin. Anybody can invest in Bitcoin; the most important thing is to ensure you have a source of income that you don't need to rely on for your Bitcoin investment.

[MarissaLopez]

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.

My candid advice would be first, being informed about Bitcoin basically cryptocurrency and it's benefits along side it's negative impacts since you're a beginner and novice in the crypto community, the little chances you have you should invest wisely more especially it should be a gradual process since you're just starting to know more of Bitcoin so you would shy away from loses. And mostly hold for long term.

[Iamgoat]

It is true that a person does not have the opportunity to earn after the age of 70, only retirement profits are available. Since there is no opportunity to earn a certain income, the extra money can be invested in Bitcoin, excluding the necessary money. If you invest the money that you will not have to face financial problems if you lose it and be patient, you can expect results in the future. Newbies need to understand that investing in Bitcoin with patience, the right approach, and a long-term plan can yield good long-term results.

I do not understand what you mean by a person does not have the opportunity to earn after the age of 70? Do you mean if someone is 70, he does not have the opportunity to become successful in life again even when he used to be rich in is early days? I do not really belong to such school of thought. You can be 70 and still leverage the opportunities in the bitcoin by investing in the coin if you can. There should not be any barrier whatsoever in terms of age, social status or financial status. If we want to rest our case on this issue of being 70, I will bring President Tinubu as an example of an individual who became the president of the Republic of Nigeria one of the most powerful and populous country in Africa. So does this mean, since President Tinubu is over 70, he cannot invest his assets in bitcoin or he should just leave it because of the age barrier?

[Somto9Light]

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?

If you're interested to go into bitcoin investment of course you're free to start regardless your age I'm sure that if you start now maybe before you will get to the age of 75 you much have reach your investment goal of getting to the stage of overaccumulation that's depending on how consistent you're towards your accumulating journey. Since you're not getting younger all you have to be doing is to keep buying aggressively to enable you meet up your target. that's if you have enough discretionary income to be doing that but if your discretionary income is not enough for you to be buying aggressively then you can only buy little by little using the DCA method.

[Drank Hunter27]

If an old person comes to me to know about Bitcoin, such as: What is investment and how to profit from Bitcoin, etc., then I will first tell him the basic concepts about Bitcoin and then show him some videos. After that, if he is willing to invest, then I will ask him to invest. Because if I encourage him to invest, if at some point the price of Bitcoin drops a lot, then he can blame me completely.

If he is motivated to invest and does not know how to invest, then I will help him to invest.

[Tungbulu]

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?

If you're interested to go into bitcoin investment of course you're free to start regardless your age I'm sure that if you start now maybe before you will get to the age of 75 you much have reach your investment goal of getting to the stage of overaccumulation that's depending on how consistent you're towards your accumulating journey. Since you're not getting younger all you have to be doing is to keep buying aggressively to enable you meet up your target. that's if you have enough discretionary income to be doing that but if your discretionary income is not enough for you to be buying aggressively then you can only buy little by little using the DCA method.

5 years is quite a long but certainly not always guaranteed to reach a state of overaccumulation, except of course the investor decides to front load his investment, but it's enough time for sure to reach/attain a sizable amount of Bitcoin. And that's why it's always advised for investors to have in mind or target at least 5 to 10 years, if they're set to attain a state of overaccumulation.

[Anayochukwu]

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.

Person wey from the seventies no too dey old na and investing in Bitcoin go be like preparing themselves for old age,  my advice for them go be way make Dem being dey serious how Dem wan be for old age. I know say everybody wan rest from hustling for old age, no body go like to dey struggle from now till old age so I go tell them to being to dey invest for Bitcoin because na the only sure odd wey Dem get to a better retirement lifestyle. And Bitcoin na something wey you go like hold for long if you really want make profit so if Dem start now to invest e go make sense for Dem on the long run.

[Smartvirus]

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.

I wouldn’t be pro-Bitcoin on this one, I understand that the every Bitcoin enthusiast would want your proceed on investing but, if you look at this part of the continent or the country itself way we from, Omo, that 70s way you don reach, you don peak finish. If you Dey think investments in cryptocurrencies, make you better Dey prepare say, no be for your own enjoyment but, your wards and left behind. In a short time, you fit Dey struggle with memory loss and other threats to health.
If e no too sure for you, you fit still rest.

[Kagaru]

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.

I agree with you on the basis that age is not a hindrance as far as it concerns learning or investing in something new. The biggest problem is that lots of elderly individuals feel more safe with the things they are familiar with and they readily perceive new things as dangerous. They can also enjoy the benefits of Bitcoin, just like younger generation, provided they are open minded and willing to learn and are so guided by someone they trust. The most important thing is knowing the risks and not necessarily throwing your hat in the ring.

[MainIbem]

Nice topic OP, on a norms bitcoin could serve a safe heaven to people after retirement whereby they relax and enjoy what they've been saving for years through Bitcoin. Now for someone who's already retired and at that age the OP mentioned, saving his or her pension in Bitcoin for his kids or grandkids is not a bad idea, according to your statement, the person isn't used to modern tech but heard about Bitcoin and bought the idea of it, he or she should seek help from his children on how to go about it, then advise then concerning saving with it and learn about it if they've not started investing in Bitcoin too, atleast before such person kicks the bucket they would've had enough savings in Bitcoin to will to their kids or grandchildren if they could save their pension for about 5 years or more.