And I told him the two types of investment. Short term and long term and I suggested long investment for him but he said he likes the short term investment because he can feed from it and I told him that, he can't invest in bitcoin and still feed from it. He can't feed from it because if he does then he will be at the losing side so the best option is the long term investment.
It seems like he wants to earn from crypto for his daily needs. In that case, long-term investment wouldn’t help him. Trading is the most obvious choice. It would depend on his skills and how good he is with technology. Even at an old age, I still believe anyone can learn trading given that they have some basic technology literacy skills already. Otherwise, you’d have to start at 0.
And he said I should managed the investment for him and I told him that he should used one of his trusted children but I can only be a mentor, guidance and adviser to him and not to manage the investment for him.
It’s good that you declined. Not only will it give you extra responsibility, it is just unwise as if something goes wrong surely the blame will be passed on to you. You can just teach onenof his children who I am sure are more fit to be trading than him.
What was his plan for all these years in active service?
Unfortunately he might have thought his children would be the one to keep his daily needs. But since they are all struggling he has no choice but to be the one to find work again. My suggestion would be to have one of his children learn about crypto and trading instead of him. He can still invest long-term but he will only be losing money if he were to do short term.