Surely there's a lot more! According to an analysis by 'Northwestern Mutual', Americans currently need 1.46 million dollars to retire in peace. Gone are the days before the clown flu when this figure was well under a million dollars, so you didn't have to be a millionaire to enjoy a well-earned retirement. Thanks be to the bigwigs at the Federal Reserve and the debt holders in Washington! We have them to thank for the fact that we are able to perform defiantly and with motivation right into old age and contribute to the well-being of society and prosperity. Anyone who does not manage to achieve a decent level of prosperity under these conditions is simply lazy, stupid or a saboteur in the common good socialist cause. https://m.stacker.news/25159
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That's it? Buy 1 bitcoin now at 67k and you can retire in 10 years. Of course in 10 years you will probably need 4M.
Buy one bitcoin now and wait for the market to adjust to it's true value, which might be $1.5M.
Yes, but by the time that occurs you probably can't retire on 1.5M
Not even sure how you retire on 1.5M now.
By the time that occurs the market value will be higher than $1.5M. This is confusing.
I gotcha you are talking about current market value being potentially 1.5M thus increasing with the rate of devaluation of the USD.
Yeah, but I thought it was funny not to clarify.
Exactly. It's not happening in New York.
Depends crucially at what age you propose to retire at, and what condition you're in when you arrive there. These are other parameters to manipulate.
Good point.
Every day 1 million dollars is worth less, that's a fact, I don't know how old you are but I can't imagine at my age (27) how much I would need in the US to retire in 40 years, I guess at least 3-4 million dollars, fiat is not worth even the paper on which it is printed.
I've got a few more years under my belt than you and I'm about to bite the dust. they can all kiss my ass. I've spent years here in Europe promoting Bitcoin to my friends and colleagues at work etc. trying to explain exactly this problem to them and have reaped nothing but scorn and derision.
I understand you perfectly, I think that most Bitcoiners have gone through the same thing and will continue to go through it, I have recommended it to family, friends and acquaintances, and only 2 people have listened to me, my mother and my best friend, I have reaped some success, there is no need to give up.
I like answering questions from nocoiners and convince them on freedom tech. I want some gratitude from all these hours of podcasts listening and studying btc😀
Have you had any success in your efforts?
People are generally receptive, but not to a point where they would commit to open an account and buy… it implies some conviction at this point. They were more willing when I proposed sending them some btc for cash as a tryout. It’s just easy to install an app and receive a notification!
I have plans to open a consulting btc business and create some easy recipes for businesses and nocoiners, but I feel this would be still a pretty slow adoption still where I am.
I can add my wife and sister that list. And my sister has become the maxi of maxis
All is not lost then ;)
Let's hope that in our retirement one Bitcoin will be enough to be calm, for sure it will be.
1 will be more than enough, Gordon!
I’ve stopped promoting bitcoin. It’s their loss.
I’ve stopped arguing with bitcoin FUD such as it’s a scam created by NSA. These are hopeless and lost causes.
What matters most is the rate at which it is increasing and I think last 5 years were eyes opening for a lot of ppl.
Think so? The germans still are saving cash and bank deposits only
Yeah, I remember my mother’s advice when I first made some cash: “use a gic to not lose money”
In hindsight, that opened my eyes to how illiterate financially this generation is.
Do you have that data?
I want to know the specifics. How long are they saying an average retirement is? What spending will I be allowed per month? ...living in what zip code?
All these details are important.
I'm also doing the math in my head about this...
I think they take the average household costs of an American retired household as a starting point and then apply the typical CPI inflation rate of the last few years.
I've always considered retirement to be some confusing fiat scheme they try to pull on all of us... such an opaque process with too many overly-complicated terms and processes. Especially 401(K)s...
What I'd REALLY like to know is how much bitcoin I'd need to retire in a sunny place for the last 40 years of my life starting in 2033.
I'm so sorry, but my cristal balls seem to be retired.... but I guess with one coin You could be doing quite well
Let me give you some sats to re-charge that 🔮 of yours 😉
I'm pretty sure just one bitcoin will be PLENTY by 2030... plenty...
Hahaha. Thank You, but don't forget that my wife is spanish. these women jealously guard the treasures
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Good for American. Here in India we only need hardly $100 k to retire.
India is still very cheap in terms of living. An Indian with 1000k in his Bank account earns roughly 5k monthly and it's more than enough here as of now.
If you want to criticize me for presenting an idea with Fiat, you can. But nothing is guaranteed with anything.
Fiat may drown, so is anything.
Give it 10 years and India will be passing europe
IMO, India has already passed ahead most of Europe. We're developing at an insane speed.
It's possible. Unstoppable people!
Thanks for the praise. 'Unstopabble People' is a real phrase to describe the energy.
I had a business partner from India. Oh boy, the business spirit was incredible. High values, family etc....
https://m.stacker.news/25203
Never forget how to fix this!
I have a friend that bought a house and the first meal he had in it was avocado toast 😂
Hahaha. Now I need a good german Bratwurst!
What a scumbag
Between that and the fancy coffee that us youths order!
Lol.
Retirement should be "how to spend time without spending money" 😂
What is retirement? It will double in the next 5 years probably.
Interesting.
I read this yesterday breaking down how much BTC you should have by age group.
https://medium.com/coinmonks/how-much-bitcoin-should-you-have-by-this-stage-in-your-life-d7db66bece38
I would wonder how much BTC would you need to retire comfortably. $1.46 million is a lot of cash
Difficult to estimate. If You retire after five more halvings You could be king with one btc I suppose
1.5m to retire and most of people don't have $10k in savings. How does it correlate
Lol with that 1.5 million in my country Panama we retire like 20 people with that amount of money
I could live my entire life off that
NGU is not only for ₿
Soooo if you're under 1.5 bar what's your choices? I guess for those retiring now, you can hope the government subsidize you a little longer with those entitlements or move down South and try to stretch your dollars in central and South America?
The other generations sorry but flat wages means your 1.5 million (relative purchasing power) goal even with yolo'ing to the S&P aint gonna happen
There are a lot of factors here like how old are you when you retire, what’s the inflation rate, what % of your nest egg can stay invested. And most importantly how much Bitcoin do you have?
ALL OF THEM?!