By Emily Roberts
For the Financial Independence Hub
Retirement is for winding down, while Bitcoin is ramping up. It might seem like the two things do not have much in common, but on closer inspection, there is definitely room for some crossover.
Recently, CNN reported that Bitcoin was going mainstream, with one of the reasons being popular innovators like Elon Musk making substantial investments. More people are taking part now, using Bitcoin to its fullest potential. When it comes to retirement, it can certainly enrich that stage of life a great deal.
Here some reasons as to why Bitcoin and retirement could well be a perfect match.
A Sense of Freedom
Retirement is for enjoying a sense of freedom, taking your life in whichever direction that suits you when you are free of obligations. Coincidentally, Bitcoin presides over a similar ethos.
In an article by Forbes titled ‘How Bitcoin Fits In A Retirement Portfolio’, they insightfully note that “If you could invest with hindsight, you’d go back in time, put 100% of your money in crypto and hold tight to the roller coaster […] over a long stretch it has, unlike lottery tickets, delivered a positive return, and most of the time goes its own way, oblivious to the stock market.” No doubt many people of retirement age look back on numerous points in their life and wonder: what if?
As Bitcoin is trending up, a decent investment today can turn into a small fortune after a few years. Remember, Bitcoin was under US$5000 last year and is currently priced at US$55000. If a retiree had bought 1 BTC last year, his investment had increased tenfold. Price swings like this have become quite common, just imagine what the value of Bitcoin could be after a decade. All one had to do is buy Bitcoin and hold it.
Many retirees choose to go their own way too and make investments in assets such as property or sell assets and go globetrotting. In any event, there is an organic meeting of minds and moods here. Whether you are young or old, something like Bitcoin could help you double down on charting your own course in your elder years, whenever they might be.
A Protected Investment
Retirees love to live care-free lives, and rightly so: they have earnt it. However, they are also the frequent targets of scams and other malicious activity.
But there’s a way to dabble in Bitcoin safely and securely. Paxful is the provider of one of the top Bitcoin wallet, safeguarding your assets ably without any exceptions. Over 5 million people have used the Paxful wallet to send and receive billions of dollars worth of BTC, establishing it as one of the most trusted places to store your Bitcoin in the world. Under their wing, you have nothing to lose.
If you feel out of your depth with Bitcoin, services like those from Paxful will provide some comfort. They take your interests incredibly seriously and will guide you through the Bitcoin world with great care and sensitivity. It is not always easy to trust in today’s climate, but Paxful works tirelessly hard to earn yours.
Want to Retire Early?
For some people, if they had invested in Bitcoin ten years ago, then they could have been in a position to retire by now. As noted by some experts, if you had replaced that Starbucks coffee with an investment in Bitcoin, you would have had well over $500,000 sitting in your bank or investment portfolio by now.
So, is it too late now? Well it probably is for that sort of return. You should probably still have that cup of coffee, the boat has already sailed. Interestingly though, Bitcoin is still expected to boom in 2021 (in some cases it already has), so its definitely still worth looking into it. Interestingly, this article states that Bitcoin’s long-term price action does make it predictable and so it could be worth having another look.
It doesn’t even have to be for you, it could help with giving you a return on investment that you can leave your family. Bitcoin could assist you with long-term stability in a world full of instability currently.
Emily Roberts is a young writer who is passionate about literature and blog writing.