while i pay my contributions into my UK pension, i view getting it as a bonus, not a given. let's be honest, in the UK the pension age is already almost 70, the workforce and birthrates are shrinking and who is going to pay for all those future pensioners? the pension system is ponzi-like in nature.
then of course if the gov expects you to work until , say, 70, how many people want to hire over 50s, let alone 60+? how many people are physically or mentally even up to most jobs at that age?
i don't expect the gov to out-right cancel pensions because it would be political suicide, but given the harsh facts, they are going to, at a minimum, fuck around a lot more - whether that means cutting the amounts, raising the age or doing something else shitty.
and this is something that will impact most countries because it seems like they all have birthrate problems.
that's why I see bitcoin as my pension savings, i control it, it can't be devalued, it can't be taken away from me. if more of a circular btc community starts to pop up, then i would just do spend and replace.
where most fiat currencies have a 27 year life span, i feel like, at least in the western world, we;re in a managed decline and i dont see a better or safer way out than btc.
any of you see btc as a possible pension pot?
136 sats \ 9 replies \ @OT 30 Sep
I see it as an amazing savings technology. And savings are what you need when you retire.
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exactly! savings that cant be diluted and actually saved
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What does it mean to retire? When does a man want to do anything other than build and make things happen?
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43 sats \ 4 replies \ @OT 30 Sep
I don't know. I have some friends that retired and didn't like all the free time so they went back to work.
Retirement to me is when you can work on what you want, when you feel like it. You're able to stop doing the "paid" job that you don't like because you have enough savings.
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If that's the case, I'm already retired.
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Enough savings is how much?
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32 sats \ 0 replies \ @OT 30 Sep
How long are you planning to live? What kinda lifestyle are you happy with? Kids?
My family is living a pretty frugal life in a semi rural area. Turns out we don't really need much to live. But as the kids get older I think there's going to be more to spend on. Like if one of my kids wants to be a doctor, we'll have to pay for it.
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Congrats
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i think for most, retirement is the time when you can do the things and build the things you want, that make you happy, but you don't need the month paycheck.
most people are too old and sick to do anything when they actually do retire sadly.
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I think if we learned to live with less, and start stacking sats even in small amounts, many of us could have this when we are still young. I love this way now. And it's not because I have tons of savings or anything. I really have none. I just live super simply.
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Yes. Most pensions are full of bonds. Everybody on a pension needs bitcoin is insulate themselves.
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We have 401ks here in the usa, so its less of a ponzi sceme. But money being inflated is no joke.
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The UK equivalent of a 401k is the self-invested personal pension (SIPP), so they also have that.
This is about the UK equivalent to social security, which in the US is much more of a ponzi simply based on size and scope. The unfunded pension liabilities in the US make everyone else look fiscally responsible and solvent by comparison
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I dont believe in social security,either. Just a big ponzi scheme.
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Some of us have them for now....
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if more of a circular btc community starts to pop up, then i would just do spend and replace.
  1. What are you going to use to replace what you've spent once you've retired? Lol
  2. If? You create the circular economy.
Maybe it's just me, but when I'm old enough to not be too capable of doing basic house chores, I'm putting out an ad for labor paid in Bitcoin. Surely someone would take that offer.
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when i am actually eligible to retire in theory, if we have a proper btc economy, then it will just be spend lol
but for now i mean, i think spend and replace is a good way of spending btc without feeling the pain of reducing the stack
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I've recently started doing some rudimentary bitcoin accounting. My aim is to stack what I estimate to be a day's worth of bitcoin savings everyday, before bitcoin becomes properly valued.
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The money is gone, even before reaching my pension plan. The numbers that Fidelity is showing on my account are just imaginary, made up numbers.
We have increasingly less productive people who will have to support pensioners.
Also, call me crazy but I expect the government will steal from my pension plan, directly or indirectly through inflation.
Therefore, I pay the strictest minimum into my pension plan, and over the max into my bitcoin plan.
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the govs of the world will most definitely find a way to steal it or reduce it and come up with a nice name for what they have done and a chart showing why it's great
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Yeah. They've done it several times already. 😅
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Without a doubt, if I save money, something impossible where I live, but if I did it would be BITCOIN. I HAVE NO DOUBTS ABOUT BITCOIN AS A FUTURE
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All pensions will go to zero against bitcoin over a long enough duration Same goes for stocks bonds and real estate
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Being totally honest, I think the same as you! Bitcoin is the only salvation for ordinary people to secure something for the future, specifically to secure their pension or retirement as we want to call it. Ehem in Spain or the US you can go to a store and buy tenths of gold, 1/4 ounces, 1/2 ounces, even 1 ounce if you are wise and have the purchasing power. IT DOESN'T MATTER if you are an ordinary citizen who in a whole year could only save for a tenth of an ounce, you can still go annually and hoard some energy from the smallest unit to larger amounts. (Currently it is not possible to do that in Latin America, to buy fractions of investment gold at most jewelry and we know that the quality is not the same). And by being able to accumulate do what my grandfather said, he died a long long time ago and his last years were sad, he suffered an accident that left half his body paralyzed on the right side (his right side), and apart from that he was left a little mentally unbalanced. (Obviously when half of my body shut down, half of my brain had to shut down 🧠 surely) I was a kid and I didn't understand many things when that happened, I was only 6 or 7 years old.
To sum up, years later, he had recovered somewhat and had some mobility. He would say things like "Fuck Banks, you have to have the "morocotas" buried in the backyard of the house." To add context, "morocotas" were old coins used in Venezuela many years ago, these were made of gold. I never knew what happened to my grandfather's estate, he died alone and poor, very poor. Due to his illness after the accident he became very very violent, he hit my grandmother and my mother and that made us run away from home when I was 9 years old.
So during his last years he lived alone, and when he said those things about the morocotas everyone said he was crazy.
Today I don't know if he really had something and it's still buried under the house, or if he had it in a bank and after his accident it was confiscated, denying him access to it, which further contributed to his mental deterioration and to his later saying those phrases, which I always remembered all these years without giving them any meaning until these days of the present, or perhaps nothing ever existed. But today I thank him for those words that resonated in my head until today when I discovered the existence of bitcoin and woke up from the illusion of society and the State.
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it's very sad what happened to him, but he was 100% right in his thought process of keeping the gov away from the gold. US isn't the only country that confiscated gold after all. anyone who lived though the economics of Venezuela back then would 100% be dealing with some kind of trauma
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Yes I have a good little sat stash ready for the future to see me out and pass on
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take action as king, not as pleb.
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I have no accounts other than Bitcoin wallets. My investment for the future is my solar panels, Bitcoin miners, and founding a SN territory. I have no desire to ever retire. I live my best life now and I plan to stay busy until I am done with this body.
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This is my current plan, everything else is just one fucking scam.
Bitcoin or death.
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Public pension funds are a ponzi scheme. You will never get back your money. I stopped paying any public pension fund years ago and also I withdraw all the money I had in any pension fund and banks. Fuck'em'all. All goes to Bitcoin.
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in the UK by law you have to pay national insurance, and to qualify for a full pension, you have to have made 35 years of NI payments.
so in this case, i don't pay anything extra, just what i am legally required to which may then result in me getting a pension, if they don't put it up to 100 years old lol
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i am legally required
you are not required... "legally required" is a moronic thing and is valid only when you CONSENT to be a shitizen slave.
Start being a sovereign individual and work for yourself not for the state. Only state slaves are "required" to pay a ponzi scheme.
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i aint trying to do a Wesley Snipes son
In 2008, Snipes was convicted of willfully failing to file tax returns for several years, from 1999 to 2001. He was sentenced to three years in prison and served his time. The legal defense presented by his team involved some sovereign citizen-type arguments, including claims that he was not legally obligated to pay federal income taxes, which is a common position in the sovereign citizen movement. However, the courts rejected these arguments as frivolous, and he was convicted.
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some sovereign citizen-type arguments
That's a bullshit term. Demonstrate that you have no idea what we are talking about. You can't be sovereign and citizen in the same time. is one or another.
I am only showing you the door, I am not forcing you to walk through... If you want to continue being a slave, so be it.
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if i get my bank account frozen for non payment of taxes or if i get into legal trouble, telling the cops and the judge that i am not obligated to pay taxes because i think they are bullshit, will just land me in jail and no amount of quoting Darth will change that fact.
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LOL so your all defense will be "Darth quoting" and not your own knowledge about how things are going in this world. In this case you deserve to be a slave.
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so which country should i move to that will allow me to pay zero tax on anything and will also allow me to do everything i decide i should be able to do to not be a 'slave'?