Why you should make Bitcoin your Retirement Plan

[Tonimez]

Bitcoin is not the ONLY good investment at all. There are areas like the real estate and buying of shares, Agriculture and many other areas of interest. However, you are not also sure about anything in any area of investment because your bitcoin can be stolen, your real estate may be razed by fire outbreak and your shares may amount to nothing at the end. Having your bitcoin in your self custodian wallet is beautiful because you own your coins and with a good security procedures, you can be sure that nobody will steal your coins and you can also be sure that based on the bitcoin records, profit is almost assured in the long-term.

Well, for those who do not want to diversify your investment I am not against you. I only feel sorry for you. Sure bitcoin is a good form of investment but I wonder why one will want to stick to it alone. I think we should treat investments like the ways entrepreneurs treat their businesses. Entrepreneurs keeps diversifying their businesses accross various industries, it doesn't mean they haven't succeeded in growing one, it only means they know tomorrow is not certain, so setting different layer of financial security makes you safer.

Talking about uncertainty, what if the government unanimously decides to ban bitcoin around the globe tomorrow. What do you think will be the fate of someone who invested only in bitcoin? You might say it is not possible because even world powers like the US have bitcoin in their reserve but nothing is impossible. That is why it is important to also weigh in on other forms of investment while treating bitcoin with higher priority.

The world has gone past that level of the government unanimously banning bitcoin around the world. The governments are keenly pushing for digital economy and more countries are adopting bitcoin the more. The world is getting wiser than the earlier days when phobia was the order of the day. Even some countries who rejected it earlier are gradually amending the laws to give room to this treasure called bitcoin.

Every investment has its own risk and so is bitcoin. I am not against diversification but diversification should come after achieving your over accumulation stage. You own your funds and by the time you achieve your over accumulation target, you gradually change your investments pattern by either reducing your DCA allocation weekly/monthly or by increasing the time between each DCA days. This will give you the opportunity to diversify into other good areas like real estate.

If you rate the various investments from 17 years ago, will you not see that bitcoin out performed all? This happened when bitcoin was still doubted by many and even many governments was actively fighting it then. Having a limited supply in addition to the growing adoption of bitcoin makes it more trustworthy that bitcoin would still perform better in the future, so this is why it's said that the longer you HODL the better chances you have to make good profit.

[Emjay24]

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Me and you know say this thing wey you talk no fit happen for this country because of how the pension fund is a major cash out for people responsible in it’s administration. And also how will you know how much worth of bitcoin you have when the pension management funds are using your pension contribution to buy bitcoin for you? The corruption will be too much, and I don’t see how possible it will happen. Bitcoin that you can buy and store on your own is the best preferred option.

Let’s assume what you are saying is achievable, do you think the pension management body will give you all the bitcoin they bought in your name when the time comes? As a person aiming to have bitcoin as retirement plan, you should do it with the money that get into your hand and remove your mind from the pension contribution money.

Abeg no blame me for thinking aloud

In a transparent system, employees wey government dey save for suppose fit track their portfolio themselves as well, but me and you know say doz pension fund management dey use dem money do business until when you retire and dey pay you wetin dem think say na your gratuity, I no even know if dem dey actually give people interests on de many years wey dem don use dia money run business. E no get where corruption no dey for person fund, wetin dem dey pay people no really be dem worth of savings.

People on de other hand no go fit save de money if government give am to dem, one or two go still consume am, so de pension funds becomes the lesser of two evils. E still dey very good say you get your own long-term savings as a person shaa, but dis requires great discipline not to touch de BTC for several years, it's achievable though and I dey on dat track already.

[AmaGold70]

Investing in Bitcoin for your retirement is a wise decision to make, the reason being that Bitcoin has grown massively in price , remaining consistent in growth right from the beginning of Bitcoin. Bitcoin should be considered as a retirement asset especially as it has shown consistency reaching all time in every bull season. Many Nigerians are not doing pensionable job, but Bitcoin will enable you to have your retirement benefits even without having a pensionable job. Bitcoin is a digital asset known to reward investors on the long run, so long term investment strategy is the only way you can earn good reward from it.

[fredericktaylor]

Investing in Bitcoin for your retirement is a wise decision to make, the reason being that Bitcoin has grown massively in price , remaining consistent in growth right from the beginning of Bitcoin. Bitcoin should be considered as a retirement asset especially as it has shown consistency reaching all time in every bull season. Many Nigerians are not doing pensionable job, but Bitcoin will enable you to have your retirement benefits even without having a pensionable job. Bitcoin is a digital asset known to reward investors on the long run, so long term investment strategy is the only way you can earn good reward from it.

It is true that by investing in Bitcoin with a long-term plan and waiting patiently for a long time, an investor can get retirement asset from Bitcoin in the future. However, to get retirement asset from Bitcoin, an investor has to buy Bitcoin consistently from the beginning of the investment and use the opportunity with confidence during market volatility. It is not enough to be disappointed quickly. You have to invest more patiently and manage the investment continuously for 10 to 12 years. This will reduce the investment risk and an investor can enjoy retirement benefits from Bitcoin without having to work.

[Fiasem20]

Investing in Bitcoin for your retirement is a wise decision to make, the reason being that Bitcoin has grown massively in price , remaining consistent in growth right from the beginning of Bitcoin. Bitcoin should be considered as a retirement asset especially as it has shown consistency reaching all time in every bull season. Many Nigerians are not doing pensionable job, but Bitcoin will enable you to have your retirement benefits even without having a pensionable job. Bitcoin is a digital asset known to reward investors on the long run, so long term investment strategy is the only way you can earn good reward from it.

Since bitcoin dey reward pipo wey hold am for the long term e go good make you start to dey invest in bitcoin when you still dey work and you get strength to run multiple sources of income,no be say when you don old you go con talk say I thou know.E get one elderly man wey don retire and him say him wan start to invest in bitcoin,I gats tell the man the truth because him dey expect to withdraw the money for the next month,all him mind him dey think say bitcoin na get quick rich scheme.I tell am if him dey look for get quick investment then bitcoin no go give am that him expectation.Now when you never old na the right time to invest in bitcoin because you no go young forever and definitely dem go retire you when you grow old.

[Tonimez]

Investing in Bitcoin for your retirement is a wise decision to make, the reason being that Bitcoin has grown massively in price , remaining consistent in growth right from the beginning of Bitcoin. Bitcoin should be considered as a retirement asset especially as it has shown consistency reaching all time in every bull season. Many Nigerians are not doing pensionable job, but Bitcoin will enable you to have your retirement benefits even without having a pensionable job. Bitcoin is a digital asset known to reward investors on the long run, so long term investment strategy is the only way you can earn good reward from it.

Since bitcoin dey reward pipo wey hold am for the long term e go good make you start to dey invest in bitcoin when you still dey work and you get strength to run multiple sources of income,no be say when you don old you go con talk say I thou know.E get one elderly man wey don retire and him say him wan start to invest in bitcoin,I gats tell the man the truth because him dey expect to withdraw the money for the next month,all him mind him dey think say bitcoin na get quick rich scheme.I tell am if him dey look for get quick investment then bitcoin no go give am that him expectation.Now when you never old na the right time to invest in bitcoin because you no go young forever and definitely dem go retire you when you grow old.

Na true talk be this. Oyinbo dey talk say "make hay while the sun shines" and na the true about workers and their retirement. E get plenty people wey be say they don work for more than 25 years but they never begin dey make any arrangements as per retirement. Na that kind thing dey make person wey don retire to suffer poverty and kpai before few years after retirement.

As a busy worker or even worker wey dey enlighten small, if you dey save small small take dey buy bitcoin when you still dey work, e go save you from many things after retirement. Bitcoin be like wine, the longer you keep am, the better e go become and na the kind investment wey any worker suppose dey do.

Some of our old parents wey been build house back then when them dey work, now people no dey stay for that kind old public compound again and no money to take rebuild am to modern house. Some of them go come sell the house and the buyers go break am down. As they sell am, na so they go keep the money chop am finish and still come face hunger. Make we dey learn from wetin do others because to be fore warned is to be for arm and e better to start (late) than make you no start at all.

[gracreavix]

There's something we can  do instead. We are all talking about Bitcoin retirement. But we can't just put all our eggs in one basket. We are supposed to diversify our investment. There's something I really want to talk about. What if you already have said plans to withdraw after a number of years and you have calculated everything. And that period you want to withdraw the market decides to deep. How will you cope after such thing happens?

[Tonimez]

There's something we can  do instead. We are all talking about Bitcoin retirement. But we can't just put all our eggs in one basket. We are supposed to diversify our investment.

Diversification is not a bad idea neither am I against the idea of diversification. However, you have to set a bitcoin goal. You should have a stage you are looking at, the amount of bitcoin you look at and when you have achieved that, you can minimise the amount you put into your DCA allocation or you can extend the period of time before each DCA days. This will make more funds available for the diversification purpose. Also note that you don't necessarily have to sell your bitcoin to be able to diversify and be careful not to diversify into shitcoins. You have to consciously maintain your portfolio and then rechannel the bulk of your money thenafter into the area of interest for diversification.

There's something I really want to talk about. What if you already have said plans to withdraw after a number of years and you have calculated everything. And that period you want to withdraw the market decides to deep. How will you cope after such thing happens?

From the second chart in the OP you will notice that this fear has been taken care of from records. Yes, if you check the bottom lows of each cycle, it is usually higher than the previous bottom low even though nothing is perfectly fixed. Also when you HODL through many cycles, the bottom lows become even higher than some previous All time highs. Saving up your bitcoin through a 20 years span means saving through about 5 bitcoin cycles. Depending on your invested bitcoin, your average cost per bitcoin will be very lower and you can make the best out of it. Note that you won't just sell off your bitcoin at anytime too because even at retirement you will also humanly seek the best time to sell or better still you apply the Sustainable withdrawal method so that you don't sell off all your bitcoin at once while you're also making profit from your remaining bitcoin stash as your withdrawal is ongoing.

[Halifat]

There's something we can  do instead. We are all talking about Bitcoin retirement. But we can't just put all our eggs in one basket. We are supposed to diversify our investment. There's something I really want to talk about. What if you already have said plans to withdraw after a number of years and you have calculated everything. And that period you want to withdraw the market decides to deep. How will you cope after such thing happens?

You have a very good point here but If really you maintain your consistency in accumulating more and for a very long term definitely you must not be at loss even though it went down. What you said about not putting all the eggs in one basket is a very good idea in case of this kind of situation, there are many ways in making money, which if we divide our investment it will actually helps a lot because we all know that all the investment will not heal at the same time, meaning it will not bring out profit at the same time, definitely it has to be different that is why even the opposite cannot also happen at the same time.

[Alonso_]

Investing in Bitcoin for your retirement is a wise decision to make, the reason being that Bitcoin has grown massively in price , remaining consistent in growth right from the beginning of Bitcoin. Bitcoin should be considered as a retirement asset especially as it has shown consistency reaching all time in every bull season. Many Nigerians are not doing pensionable job, but Bitcoin will enable you to have your retirement benefits even without having a pensionable job. Bitcoin is a digital asset known to reward investors on the long run, so long term investment strategy is the only way you can earn good reward from it.

It is true that by investing in Bitcoin with a long-term plan and waiting patiently for a long time, an investor can get retirement asset from Bitcoin in the future. However, to get retirement asset from Bitcoin, an investor has to buy Bitcoin consistently from the beginning of the investment and use the opportunity with confidence during market volatility. It is not enough to be disappointed quickly. You have to invest more patiently and manage the investment continuously for 10 to 12 years. This will reduce the investment risk and an investor can enjoy retirement benefits from Bitcoin without having to work.

Personally I have seen bitcoin as something that is special to me, and I have been treating bitcoin as a retirement plan investment, considering my age now, and working and keeping some money aside to save money for my bitcoin investments, and I’m also treating my bitcoin investment as a way of saving and also inheritance for my children, as much as we don’t have any set back because of volatility which is very common with buying and investing in bitcoin, there is nothing anyone can do about volatility, I think it’s part of things that makes bitcoin very special and unique, if you are just investing like someone who is saving for the future and having retirement plans at the back of your mind makes much sense to me in a long term investment.