How many Bitcoins needed to retire in 5-6 years?

[JayJuanGee]

I think the problem with the OP's question is that it is unlikely that the price of bitcoin will be stable over the next 6 years, although probably will be more stable then it is now. The same applies with adoption of bitcoin.

Even if you could calculate the future inflation rate, and how long you will live, you can likely not calculate the bitcoin price.

There is also the question of is the OP going to convert his bitoin into fiat when he retires, or will he convert it as he needs the fiat, or will he spend his bitcoin on goods and services?

I doubt that any of the questions that you raise are very complicated or insurrmountable, and each of us need to come to our own calculations regarding probabilities and also to make adjustments along the way, if it appears that there are better storage of value vehicles.  Even in retirement, you are NOT necessarily locked into a storage of value vehicle, unless you choose to lock yourself into such a vehicle (which may or may NOT be to your advantage).  

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[azguard]

I will retire yes, but only when i reach 100 btc then i will retire and sell it all my asset.

Meaning i will sell all 100 btc and the rest of coins that i have.

[oda.krell]

In your opinion how many Bitcoins would someone need today in order to retire by August 03 2019 or Aug 03 2020?

For each thread of this kind that pops up on this forum, 1 coin more than before.

[Schickeria]

In your opinion how many Bitcoins would someone need today in order to retire by August 03 2019 or Aug 03 2020?

For each thread of this kind that pops up on this forum, 1 coin more than before.

In few years there will be more 21,000,000 of this threads :-(

[atleticofa]

Just 10 Bitcoin.

[JayJuanGee]

I will retire yes, but only when i reach 100 btc then i will retire and sell it all my asset.

Meaning i will sell all 100 btc and the rest of coins that i have.

When will you arrive at 100BTC, and what will the price be?

At this time, 100BTC is worth about $58,000.  That does NOT seem to be enough to live a very comfortable retirement in most parts of the world... unless you assume that BTC prices are going to considerably appreciate and that you are keeping your money in BTC (or that you have some other asset that you expect to appreciate)..

However, you already stated that you are selling all of your crypto, once you get to 100BTC...  There seems to be some missing assumptions and/or logic in what you are saying.  Can you explain your plan a little better?

[FUR11]

Just 10 Bitcoin.

10? Phew... okay, I mean it's as good a bet as all the others. If you asked people a couple of years ago if they could imagine a $580 Bitcoin, they'd have you institutionalized. But in order to really retire, I think we're more in the 50 BTC realms, at least...

[DannyElfman]

Just 10 Bitcoin.

10? Phew... okay, I mean it's as good a bet as all the others. If you asked people a couple of years ago if they could imagine a $580 Bitcoin, they'd have you institutionalized. But in order to really retire, I think we're more in the 50 BTC realms, at least...

With logarithmic growth everything is possible, but in 5 years 10 bitcoins maybe way too little, yes. This also depends hugely on the amount of money needed to retire!

[Capt Drake]

Every investment will collapse. Your gold will be confiscated. Your land will be heavily taxed. Hyper-inflation will make your fiat worthless. Nothing is safe, until Bitcoin. Save what you can, never spend more than you need. Retire now and live as cheaply as you can and enjoy life.

Problem for most is, that they can't retire with the amount they have now.

instead of retiring, people are downshifting these days, and I think that this is healthier and better for most people on non-physical jobs. Studies on college professors had shown that those who got part time positions in the same school after semi-retirement were much happier (happier even than before down-shifting).

Yes, I have to agree with that.

My life goal is to not HAVE to work, but be ABLE to work and not needing the income of it.

Dependency on anything is a B I T C H

Couldn't agree more with you guys... :/

[Carra23]

I will need at least 20-30 million to retire, otherwise it will not be a fun enough retirement. Considering the number I hold, Bitcoin has to go through massive bubbles to achieve this

Right now just look it as disposable extra money which is a bonus to my normal income.

[JayJuanGee]

Just 10 Bitcoin.

10? Phew... okay, I mean it's as good a bet as all the others. If you asked people a couple of years ago if they could imagine a $580 Bitcoin, they'd have you institutionalized. But in order to really retire, I think we're more in the 50 BTC realms, at least...

With logarithmic growth everything is possible, but in 5 years 10 bitcoins maybe way too little, yes. This also depends hugely on the amount of money needed to retire!

OP already set forth his parameters.... and there has been discussion of various other possible amounts throughout this thread.

[JayJuanGee]

I will need at least 20-30 million to retire, otherwise it will not be a fun enough retirement. Considering the number I hold, Bitcoin has to go through massive bubbles to achieve this

Right now just look it as disposable extra money which is a bonus to my normal income.

Either you must be a kid - who has NO real idea or experience(s) regarding the life-draining aspects of working (of course there will be some variation in the degree to which work is life-draining), or on the other hand, currently, you may just be a work-a-holic who thinks that a person gets meaning through work?  On the other hand (am I running out of hands?), you have a real high standard of living (and you believe that you need to continue to maintain such).  There are a lot of ways to retire on much less than some abstract $20-30 million - just consider that $1 million can generate about $4k per month gross in interest (or appreciation), and $10 million can generate 10X that.  Most people can figure out a way to live fairly comfortable between $1 and $10 million, and certainly, there may be reasons that a person has preferences to have a monthly income higher than $40k - but to me, as I already explained, it seems a bit pie in the sky or maybe motivated by other unstated reasons to feel that you need to acquire more than $10million.

[azguard]

I will retire yes, but only when i reach 100 btc then i will retire and sell it all my asset.

Meaning i will sell all 100 btc and the rest of coins that i have.

When will you arrive at 100BTC, and what will the price be?

At this time, 100BTC is worth about $58,000.  That does NOT seem to be enough to live a very comfortable retirement in most parts of the world... unless you assume that BTC prices are going to considerably appreciate and that you are keeping your money in BTC (or that you have some other asset that you expect to appreciate)..

However, you already stated that you are selling all of your crypto, once you get to 100BTC...  There seems to be some missing assumptions and/or logic in what you are saying.  Can you explain your plan a little better?

I dont have 100BTC yet. But yes i will sell them all when i reach this amount. I will probably hold them for a while untill price goes to my side of story.

Also this wont happen soon so price can be much higher then now also it can be backfire down.

Never the less i will retire when i have 100 btc how much other coin i will have that is not mater my goal is 100 BTC then am out.

[JayJuanGee]

I will retire yes, but only when i reach 100 btc then i will retire and sell it all my asset.

Meaning i will sell all 100 btc and the rest of coins that i have.

When will you arrive at 100BTC, and what will the price be?

At this time, 100BTC is worth about $58,000.  That does NOT seem to be enough to live a very comfortable retirement in most parts of the world... unless you assume that BTC prices are going to considerably appreciate and that you are keeping your money in BTC (or that you have some other asset that you expect to appreciate)..

However, you already stated that you are selling all of your crypto, once you get to 100BTC...  There seems to be some missing assumptions and/or logic in what you are saying.  Can you explain your plan a little better?

I dont have 100BTC yet. But yes i will sell them all when i reach this amount. I will probably hold them for a while untill price goes to my side of story.

Also this wont happen soon so price can be much higher then now also it can be backfire down.

Never the less i will retire when i have 100 btc how much other coin i will have that is not mater my goal is 100 BTC then am out.

This plan makes LITTLE to NO sense; however, even a plan that makes little to NO sense could work out b/c your plan seems to indicate that you are prioritizing the acquisition of BTC rather than other assets - and if the price of BTC appreciates considerably, then your plan may work out just fine.

Let's say, for the sake of argument, that BTC prices goes up in value by 30% for each year for the next 6 years:

Year 1 (2015)  = $780
Year 2 (2016)  = $1,014
Year 3 (2017)  = $1,318.20
Year 4 (2018)  = $1,713.66
Year 5 (2019)  = $2,227.76
Year 6 (2020)  = $2,896.09

Then your 100 BTC would be worth $289,608.54, and in my thinking that would NOT be a decent retirement amount but you could live probably live off of it for more than 20 years, if you continue to let it grow and drew it down by $30k per year. 


On the other hand, if BTC prices go up in value by 50% for each year for the next 6 years:

Year 1 (2015)  = $900
Year 2 (2016)  = $1,350
Year 3 (2017)  = $2,025
Year 4 (2018)  = $3,037.50
Year 5 (2019)  = $4,556.25
Year 6 (2020)  = $6,834.38

Then your 100 BTC would be worth $683,437.50, and in my thinking that would NOT be a decent retirement amount but you could live probably live off of it for more than 30 years, if you continue to let it grow and drew it down by $50k per year.   

Anyhow, my point is that your ability to live off of 100BTC will depend on a few factors, including how much and how quickly the price of BTC appreciates, if at all.
 

[mladen00]

I hope 1BTC will be enough.

[azguard]

I will retire yes, but only when i reach 100 btc then i will retire and sell it all my asset.

Meaning i will sell all 100 btc and the rest of coins that i have.

When will you arrive at 100BTC, and what will the price be?

At this time, 100BTC is worth about $58,000.  That does NOT seem to be enough to live a very comfortable retirement in most parts of the world... unless you assume that BTC prices are going to considerably appreciate and that you are keeping your money in BTC (or that you have some other asset that you expect to appreciate)..

However, you already stated that you are selling all of your crypto, once you get to 100BTC...  There seems to be some missing assumptions and/or logic in what you are saying.  Can you explain your plan a little better?

I dont have 100BTC yet. But yes i will sell them all when i reach this amount. I will probably hold them for a while untill price goes to my side of story.

Also this wont happen soon so price can be much higher then now also it can be backfire down.

Never the less i will retire when i have 100 btc how much other coin i will have that is not mater my goal is 100 BTC then am out.

This plan makes LITTLE to NO sense; however, even a plan that makes little to NO sense could work out b/c your plan seems to indicate that you are prioritizing the acquisition of BTC rather than other assets - and if the price of BTC appreciates considerably, then your plan may work out just fine.

Let's say, for the sake of argument, that BTC prices goes up in value by 30% for each year for the next 6 years:

Year 1 (2015)  = $780
Year 2 (2016)  = $1,014
Year 3 (2017)  = $1,318.20
Year 4 (2018)  = $1,713.66
Year 5 (2019)  = $2,227.76
Year 6 (2020)  = $2,896.09

Then your 100 BTC would be worth $289,608.54, and in my thinking that would NOT be a decent retirement amount but you could live probably live off of it for more than 20 years, if you continue to let it grow and drew it down by $30k per year. 


On the other hand, if BTC prices go up in value by 50% for each year for the next 6 years:

Year 1 (2015)  = $900
Year 2 (2016)  = $1,350
Year 3 (2017)  = $2,025
Year 4 (2018)  = $3,037.50
Year 5 (2019)  = $4,556.25
Year 6 (2020)  = $6,834.38

Then your 100 BTC would be worth $683,437.50, and in my thinking that would NOT be a decent retirement amount but you could live probably live off of it for more than 30 years, if you continue to let it grow and drew it down by $50k per year.   

Anyhow, my point is that your ability to live off of 100BTC will depend on a few factors, including how much and how quickly the price of BTC appreciates, if at all.

Man this is cool and with that amount of money in ether case is more then ok i can buy several real estates and live on rents.
Think that this idea is good not greedy but ok live on rent and that ok.

[JayJuanGee]

I will retire yes, but only when i reach 100 btc then i will retire and sell it all my asset.

Meaning i will sell all 100 btc and the rest of coins that i have.

When will you arrive at 100BTC, and what will the price be?

At this time, 100BTC is worth about $58,000.  That does NOT seem to be enough to live a very comfortable retirement in most parts of the world... unless you assume that BTC prices are going to considerably appreciate and that you are keeping your money in BTC (or that you have some other asset that you expect to appreciate)..

However, you already stated that you are selling all of your crypto, once you get to 100BTC...  There seems to be some missing assumptions and/or logic in what you are saying.  Can you explain your plan a little better?

I dont have 100BTC yet. But yes i will sell them all when i reach this amount. I will probably hold them for a while untill price goes to my side of story.

Also this wont happen soon so price can be much higher then now also it can be backfire down.

Never the less i will retire when i have 100 btc how much other coin i will have that is not mater my goal is 100 BTC then am out.

This plan makes LITTLE to NO sense; however, even a plan that makes little to NO sense could work out b/c your plan seems to indicate that you are prioritizing the acquisition of BTC rather than other assets - and if the price of BTC appreciates considerably, then your plan may work out just fine.

Let's say, for the sake of argument, that BTC prices goes up in value by 30% for each year for the next 6 years:

Year 1 (2015)  = $780
Year 2 (2016)  = $1,014
Year 3 (2017)  = $1,318.20
Year 4 (2018)  = $1,713.66
Year 5 (2019)  = $2,227.76
Year 6 (2020)  = $2,896.09

Then your 100 BTC would be worth $289,608.54, and in my thinking that would NOT be a decent retirement amount but you could live probably live off of it for more than 20 years, if you continue to let it grow and drew it down by $30k per year. 


On the other hand, if BTC prices go up in value by 50% for each year for the next 6 years:

Year 1 (2015)  = $900
Year 2 (2016)  = $1,350
Year 3 (2017)  = $2,025
Year 4 (2018)  = $3,037.50
Year 5 (2019)  = $4,556.25
Year 6 (2020)  = $6,834.38

Then your 100 BTC would be worth $683,437.50, and in my thinking that would NOT be a decent retirement amount but you could live probably live off of it for more than 30 years, if you continue to let it grow and drew it down by $50k per year.   

Anyhow, my point is that your ability to live off of 100BTC will depend on a few factors, including how much and how quickly the price of BTC appreciates, if at all.

Man this is cool and with that amount of money in ether case is more then ok i can buy several real estates and live on rents.
Think that this idea is good not greedy but ok live on rent and that ok.

Well, if you are satisfied with either one of those scenarios, then you would just need to plan to continue to acquire your 100BTC, and thereafter hope and pray that BTC prices appreciate to those levels, which I believe a lot of people in this forum would consider either scenario to be very conservative estimates.  On the other hand, if BTC prices appreciate greater than the amounts described above, then you will need to accumulate your BTC earlier b/c you may NOT be able to afford to buy enough to accumulate to 100BTC.  On the other hand (I am running out of hands), if BTC depreciates in value, then you can accumulate a lot, but they will NOT be worth much... hehehehe 

[cbeast]

In 5-6 years one BTC will buy you this.

[JayJuanGee]

In 5-6 years one BTC will buy you this.

Accordingly, you are suggesting some major transfer of wealth to us BTC "early" adopters.  Additionally, you are suggesting that there are going to be another at least 50K millionaires who will have come through the ranks of bitcoin investments... and probably at least 1,000 billionaires (those holding more than 1k coins).... .  Seems a bit pie in the sky in my thinking, especially to be achieved within a 5-6 year time-frame - but may be more reasonably achievable in the 20 to 30 year time frame...

[Carra23]

I will need at least 20-30 million to retire, otherwise it will not be a fun enough retirement. Considering the number I hold, Bitcoin has to go through massive bubbles to achieve this

Right now just look it as disposable extra money which is a bonus to my normal income.

Either you must be a kid - who has NO real idea or experience(s) regarding the life-draining aspects of working (of course there will be some variation in the degree to which work is life-draining), or on the other hand, currently, you may just be a work-a-holic who thinks that a person gets meaning through work?  On the other hand (am I running out of hands?), you have a real high standard of living (and you believe that you need to continue to maintain such).  There are a lot of ways to retire on much less than some abstract $20-30 million - just consider that $1 million can generate about $4k per month gross in interest (or appreciation), and $10 million can generate 10X that.  Most people can figure out a way to live fairly comfortable between $1 and $10 million, and certainly, there may be reasons that a person has preferences to have a monthly income higher than $40k - but to me, as I already explained, it seems a bit pie in the sky or maybe motivated by other unstated reasons to feel that you need to acquire more than $10million.

I am not really an workaholic, but I do somewhat like the work. I know once I give up work there is no turning back. The point is if I take the step it has to be really worthwhile, and enough reserves so that I don't have to think about working again.