Bitcoin as a Retirement Account

[Pab]

Bitcoin is not so much safe,even internet if will be not strengthen will crash after 8 years

and what will happen with btc whan all btc will be mained,bitcoin has to much problem to be safe

[gripflierGO]

Bitcoin is not so much safe,even internet if will be not strengthen will crash after 8 years

and what will happen with btc whan all btc will be mained,bitcoin has to much problem to be safe

Yes and i dont think that its an good idea to have bitcoin as an retirement account. The future of bitcoin is uncertain so i think we should hold bitcoin for few more years and then sell when the right price is available that is the best way to earn profits out of it rather then waiting for next 25 years.

[Dalord1]

i don't really think using bitcoin as a retirement account is the best option because the future of bitcoin is not certain as nobody really the future. Predictions is possible but it is not 100%. It could be profitable at the longrun or not profitable at all. Well, everything has risk, you just have to gauge the risk very well before taking the decision.

[The Sceptical Chymist]

Bitcoin is not so much safe,even internet if will be not strengthen will crash after 8 years

and what will happen with btc whan all btc will be mained,bitcoin has to much problem to be safe

This sounds like something Mushmouth from the Fat Albert show would speak.  Well said and thank you for scunting up the bitcoin forums.  Where's that signature campaign when I need one?

[nerFohanzo]

i don't really think using bitcoin as a retirement account is the best option because the future of bitcoin is not certain as nobody really the future. Predictions is possible but it is not 100%. It could be profitable at the longrun or not profitable at all. Well, everything has risk, you just have to gauge the risk very well before taking the decision.

Nothing is sure with related to investment at present Either you go for gold or real estate no one guarantees you the profits but you can trust bitcoin over the gold or land as the financial gurus have predicted that it is the future currency but you need to follow your heart and your mind to get into a particular decision.

[hunnaryb]

i don't really think using bitcoin as a retirement account is the best option because the future of bitcoin is not certain as nobody really the future. Predictions is possible but it is not 100%. It could be profitable at the longrun or not profitable at all. Well, everything has risk, you just have to gauge the risk very well before taking the decision.

If you hold 60 to 70 BTC then I believe it is enough for you at the time of retirement. You don't need to hold anything else or you don't need to invest anywhere else and this would give you the best return on investments in the future just wait for next 5 to 6 years and you will be the wealthy man.

[Amph]

i don't really think using bitcoin as a retirement account is the best option because the future of bitcoin is not certain as nobody really the future. Predictions is possible but it is not 100%. It could be profitable at the longrun or not profitable at all. Well, everything has risk, you just have to gauge the risk very well before taking the decision.

the future is not certain for any assets, and bitcoin at this point isn't any different, it could go wrong like it could go well, it is just a matter of perspective, and belef

if you really don't see any other better alternatives than using bitcoin as a retirement account, then go for it without thinking, otherwise you can sit on a more traditional method

[Yeezus]

i don't really think using bitcoin as a retirement account is the best option because the future of bitcoin is not certain as nobody really the future. Predictions is possible but it is not 100%. It could be profitable at the longrun or not profitable at all. Well, everything has risk, you just have to gauge the risk very well before taking the decision.

You could argue the same about fiat money. Most people find their money has devalued over time and just look at pensions. Some people pay into them their whole life but when they get to retirement age they can't even afford to live on them because of inflation.

https://en.wikipedia.org/wiki/Pensions_crisis

[stallion]

Are there such things as time locked transactions with a single key?  Do they send the transaction with a date in the future? What happens if you lose the key the coins are destined for before you reach retirement age?

Did you get an answer to this query? I need the same answer.

[retrend]

I work for a firm that sets up corporate pension schemes.

I think telling anyone to invest their pension into bitcoin is beyond risky, as evidenced by how much money people would have lost by doing this since the original post.

I don't think I've processed a risk profile that would come near this amount of risk and it's not really the sort of thing you want to find out at the time you made a huge mistake with.

[manselr]

I work for a firm that sets up corporate pension schemes.

I think telling anyone to invest their pension into bitcoin is beyond risky, as evidenced by how much money people would have lost by doing this since the original post.

I don't think I've processed a risk profile that would come near this amount of risk and it's not really the sort of thing you want to find out at the time you made a huge mistake with.

Obviously BTC should be treated as it is, a highly risky asset at experimental early day status, just like holding an apple stock was considered risky back in 1980, but fortune never benefits the ones that never take risks.
If you want a moderate pension stick to other things, if you want a roller coaster of emotions with a possibility to make it big, bet on Bitcoin and be ready for anything.

[retrend]

It's not exactly retirement planning though is it, it's basically just taking a punt on something with very low odds of long term success.

You don't need bitcoin to do that.

[xavi21]

I don't think its an good idea to have an bitcoin as a retirement account as the future of bitcoin is still blank. We don't know whether it will replace fiat or not but i would prefer to invest in some pension plans which would pay me assured amount of money monthly rather then going for bitcoin retirement account.

[wearepoor]

I don't think its an good idea to have an bitcoin as a retirement account as the future of bitcoin is still blank. We don't know whether it will replace fiat or not but i would prefer to invest in some pension plans which would pay me assured amount of money monthly rather then going for bitcoin retirement account.

Pension plans are not good enough I guess. They don't pay a high rate of returns and you also have to pay the premium monthly or yearly depending upon the plan but If you hold good amount of bitcoin then it can proved to be a good investment option at the retiring age and you can sell bitcoins anytime you wish its not compulsory that you have to wait till you get retired 

[retrend]

Sorry but what you are saying is almost criminally stupid.

[zeraTunerse]

It's not exactly retirement planning though is it, it's basically just taking a punt on something with very low odds of long term success.

You don't need bitcoin to do that.

That is true and I don't think that bitcoin as an retirement account is an great idea as you don't know what is the future of bitcoin whether it will reach to a new level or else it would just disappear so it sounds little bit risk to hold bitcoin as an retirement account.

[bryant.coleman]

Pension plans are not good enough I guess. They don't pay a high rate of returns and you also have to pay the premium monthly or yearly depending upon the plan but If you hold good amount of bitcoin then it can proved to be a good investment option at the retiring age and you can sell bitcoins anytime you wish its not compulsory that you have to wait till you get retired 

Pensioners are getting a raw deal in the recent times, in many parts of the word. Take Greece for example. The government has severely reduced the pension payments, in order to obey the terms of the austerity measures. Imagine someone who has contributed to his pension fund for 30 or 40 years suddenly waking up, to find that 90% of the funds are gone.

[Harry Hood]

The commercial version of a pension is an annuity. They work the same way except the buyer/investor has more options on what their money is invested in, what kind of benefit they get, etc. The problem with annuities is the price/costs are high.

A not-for-profit pension firm offering an annuity at lower cost would be the best option. Maybe bitcoin can serve a good purposes this way funding the charitable causes of the world.

[Amph]

It's not exactly retirement planning though is it, it's basically just taking a punt on something with very low odds of long term success.

You don't need bitcoin to do that.

That is true and I don't think that bitcoin as an retirement account is an great idea as you don't know what is the future of bitcoin whether it will reach to a new level or else it would just disappear so it sounds little bit risk to hold bitcoin as an retirement account.

everything is not certain at this point, bank can fail, your life can fail, your entire country can fail too, so adding a little risk and investing in bitcoin for your retirement, does not sound that off to me

bitcoin is still more of a safe heaven then a secure disaster, it's all about probability not certainties, if something has more chance to grow then you invest in it, nothing more nothing less

[mayflor2]

Putting 1% of your retirement contributions in Bitcoins wouldn't be a bad idea.

Definitely not a bad idea. Even putting 10% of it wouldn't be a bad idea, but investing too much and 'relying' on btc would be a very bad idea. The only thing inevitable in this world is change. Change can be positive and negative so, you just never know.