I have taken all the advise on board and here's my plan...
Create 10x Bitcoin address's on an offline computer using downloaded version of bitaddress.org. Create 10x Bitcoin address's with Electrum on offline computer. Put all 20x keys in KeePass using encryption and 30 character password. Then encrypt KeePass file with TrueCrypt and different 30 character password. Copy to file to several USB sticks, and bury the USB sticks in waterproof boxes in family members gardens.
Can then pay a little into each wallets for the next 20 years and there's a pension plan
sounds good to me, but might i suggest to use VeraCrypt instead of TrueCrypt. TrueCrypt had some problems and development has stopped. VeraCrypt is the successor.Create 10x Bitcoin address's on an offline computer using downloaded version of bitaddress.org. Create 10x Bitcoin address's with Electrum on offline computer. Put all 20x keys in KeePass using encryption and 30 character password. Then encrypt KeePass file with TrueCrypt and different 30 character password. Copy to file to several USB sticks, and bury the USB sticks in waterproof boxes in family members gardens.
Can then pay a little into each wallets for the next 20 years and there's a pension plan
oh and make sure to include a version of the used software on the usb as well. maybe a newer software will not support you old data anymore (which i consider unlikely) and you will have a hard time finding an older version.
the method he is suggesting is only a paranoid version of a safe way of making a cold storage.
and as for what you said, these applications that stop being backward compatible will always have a little line of code to enable old users still be able to enter their old version and use it.
and also on top of that, you can always find the old version either on the distributors site or if it is open source on the source code history to compile yourself or somewhere on the internet.
so let him be paranoid. b etter safe then sorry. also it is really not trouble to include the software on the stick too. one again better safe then sorry and at least it safes you the trouble of searching for it and puts your mind at ease.