And I will introduce the DCA method of investment for him since he depends on the monthly stipend of the church. My problem here is, the time he is planning for his retirement investment is too close. It is just few months to his retirement and that is when he is serious about it. What was his plan for all these years in active service?
If he is going to retire in a few months then what is the point of DCAing because the monthly income he gets would be stopped right ?
How would he keep buying bitcoin after his income has stopped ?
In this case, it is not really a good idea to invest in bitcoin because he cannot invest for a long term.
He would need an investment which is liquid and easy to access and with bitcoin he would have to go through the hassle of exchanging to fiat and then get it to his bank account in case of an urgent need.
It would be better for him to invest in a fixed deposit and get an assured return on his capital.
His capital amount would be safe and he would be getting fixed monthly/quarterly returns as well.