Quote from: fikrett on Today at 09:09:43 AM

Quote from: mirakal on Today at 08:37:19 AM

Quote from: Y3shot on October 01, 2024, 10:00:43 AM

Quote from: BlockExplorer24 on August 26, 2024, 08:02:36 AM

"Investing in Bitcoin for retirement? Well, that's one way to keep the faith strong! 😅 But tell the pastor that Bitcoin might be a bit too volatile for divine intervention—he might need more than a prayer to retire comfortably! 🙏📉"

Since the pastor is getting retired bitcoin shouldn't be the first plan. He is getting retired and where he normally make money from he won't be getting it again, that source is already close. It will be better for him to think about how to create income first either by doing business that can give him income everyday. If having a steady income is achieved then he can think of investing bitcoin. It does not make any sense that someone is getting retired and he is just making plans to invest bitcoin, the truth is that he is thinking bitcoin can be is next source of income or a career line to depend on.

You might be right, but I didn’t consider that he’s allocating all his money to this. Still, he likely has some funds available while he waits for his Bitcoin investment to start generating returns. Plus, we can assume he’s getting a monthly pension, which I believe was enough to cover his daily needs. However, he really needs to think this through thoroughly because investing in crypto is too risky, and he could lose money with just one mistake. If he doesn’t have a proper understanding of it, it might be smarter to invest in something he knows better.
Of course, we’re still encouraging him to explore this interest since we all know how profitable it can be, despite the risks involved.

Yeah, he should have a backup plan for sure knowing the market and it's secrets that can happen from time to time Grin

Though it's noble to try investing into BTC nontheless.It just should be done responsibly.

We do know the golden rule when it comes to investing on which you shouldnt really be that making use or investing on the amount on which you cant afford to lose. We do know that investing on crypto would really be attached in too much volatileness of your investment on which if you dont really like on losing money or seeing deep reds that might give out that kind of impulsiveness, then it would really be that just right that you shouldnt really be investing all the money that you do have. Making up some diversification as much as you could on which it isnt really just that limited on crypto investment alone but also touch up some traditional
investments on which this would really be able to potentially be able to reach up those goals or targets that you are really that wishing to achieved on. Investing on crypto or Bitcoin with your retirement is really that bit risky. Why? There's no assurance about success or pump up in the future. What if it would go south? and this is really that your last resort on having a comfortable living or life on your old years or senior?
This is why it will always be that recommended on having always that back up plans on which this will really be that recommended because always having back up plans will really be giving out that kind of edge
or advantage in comparing into those people who do have none.