I don't know how I make decisions as a boy.
My father is a military man. He has served in this military sector for 25 years. His term of service is almost at an end. After two months he was going to retire from the job. He will get retirement pension after his service life in the military sector and he has many plans based on this retirement pension.
His first dream is to build a house with this retirement money. But right now in my country all the materials needed to build a house are very expensive so building a house right now can't be a good decision. And I don't feel safe keeping his pension money in the bank because earlier there was inflation in my country where some banks went bankrupt.
So right now I am not able to give him any proper advice as a boy. But one thing I've been wondering for a few days is if I invest half of my father's retirement allowance in Bitcoin, am I doing something wrong?
I feel like if I invest half the amount in Bitcoin for a year after receiving his retirement allowance, I might be able to hand over more money to my dad at the end of the year.
Hope I get proper advice from you.
First of all, don't invest your money in one bank if you are afraid of banks going bankrupt and losing your money. Deposit your money in several banks and keep it that way. I can say this about buying Bitcoin and waiting. If you have enough time to wait in the long term and enough money in the process, you can invest. Bitcoin has never lost in the long run. Still, the decision should be yours. You should know the risks and act accordingly in the market. Just as banks are likely to fail, so are stock markets. That's why you should learn ways to protect your investment. You need to learn methods such as cold wallet.