Thinking of putting all your eggs in one basket? Think again! Your idea is to invest in bitcoins and not have a plan B! Since you are planning to invest in bitcoin as a retirement plan, it will be wise to do thorough research. As per the de.the-bitcoinrevolution.com, you can grab insane wins and it takes just a few minutes of work each day.
The question is – Can you become rich by investing in bitcoins? Let’s find out through this informative post that talks about bitcoin investment as a retirement plan.
Understanding Potential and Actual Growth
Is investment in bitcoin a sustainable goal? You need to think twice before making it a retirement plan. There are risks involved because you may invest in bitcoin but holding on to it for too long may not be beneficial.
Trends keep changing and hence, you can only count on potential growth. Is there actual growth in this? Nobody can put all their eggs in one basket. It is best to invest NOW and sell them at the right time rather than waiting for the value to double 20 years down the line.
Bitcoin has been a trend and it did exceedingly well in the year 2016 and 2017. However, there was a drop in the price by the end of 2017. There are risks involved here and having a Plan B is always a wise decision.
Bitcoin Investment = Gambling
Majority of the investors bought the bitcoin at a lower price and sold it when the value was at its peak. It is more or less close to gambling! You never know whether the price will drop or rise. There are no sure-shot ways to predict that bitcoin value will increase or fall.
As a retirement plan, you need a sustainable plan. You could make money with bitcoin and then buy a property. When there is a property – commercial or residential, you can sell it off at a higher price or give it for rental. Turning it into a holiday home is another grand idea! These days people put up their properties on Airbnb and they are making a lot of money within the comfort of their home.
You could invest in bitcoin now and sell them when the price rises. Don’t use all the riches in a day and save most of it for your future. This way you can deposit the extra money into your retirement savings account. Additionally, you could invest in a property/beach house or put the money in a bank and wait for it to double.
Words from the Wise
You must invest in bitcoins when you are ready for it in every way. You should be financially ready for the rise and fall of the value. Do not invest in bitcoin while you are having debt or do not have enough to support yourself. Invest in bitcoin, make more money by selling them but also save some eggs in the emergency fund. This will secure your future!