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This is an editorial opinion by Robert Hall, content creator and small business owner.
Do you dream of retiring someday? You work all day and work hard to grow your business or to do an excellent job for your employer so that you can get promoted and earn more money. What are we supposed to do with our paychecks after paying the bills, putting food on the table and looking after the kids?
Conventional wisdom tells us that we should save for retirement in order to enjoy our “golden years.” This is not bad advice per se because we can’t keep working forever. Having money to count on after you stop working is wise financial planning. As you know, the entire industry is dedicated to planning for your future self.
Most financial advisors will tell you to invest your money in a 401(k) and allow it to grow over time. This has worked for millions of Americans. For example, the annual return of the S&P 500 index for 10 years was 14.25%. This isn’t bad when you take it at face value, but once you take inflation into account, that number becomes much lower. Instead of reaping the full 14% gain, your inflation-adjusted purchasing power is more like 12% after you factor in the Federal Reserve’s target of 2% inflation each year. If inflation continues the way it has this year for a long time, your retirement savings may seem a lot smaller than you thought. This 2% loss doubles year after year with the same gains you did; Keep that in mind.
this is not true! Why do we suffer because of the monetary policies set by the Federal Reserve? Keep in mind we never voted for any of these jokes, which caused a lot of hardship to us and the rest of the world. The Fed’s policy of printing trillions of dollars and buying government treasuries creates an unsustainable situation that could lead to a monetary collapse of the dollar.
Everyone thinks this can’t happen here, but it can happen. No one is immune to stupidity and arrogance. Jerome Powell and the rest of the Federal Reserve are in bad shape. Do they honestly believe that they can control the economic lives of millions of people? How crazy are you to believe this? Once people lose faith in the dollar, it’s over, folks, and that day is coming sooner than you think. A massive 7% inflation is a good way to scare people away from the dollar. I’m not saying it’s imminent, but the general trend is not good for the United States
So, with all this economic turmoil, how can you effectively save for retirement?
Bitcoin is your new retirement account
Bitcoin is the perfect vehicle for retirement for a variety of reasons. The first is that it is designed to appreciate forever. There are only 21 million coins to ever be produced. This is called inelastic supply. This means that as the demand for bitcoin rises, the price of bitcoin will also rise due to the scarcity of supply. Did you know there was a file Three million coins Lost, so the total supply will be closer to 18 million by the time the last coin was produced in 2140?
The inflexible supply of Bitcoin is exactly what you want to see in the assets of a retirement fund. Investing your retirement savings in Bitcoin will secure your future retirement needs to the extent that you can live comfortably.
Bitcoin is the perfect retirement tool because you are in control of your assets and not the bank or the manager of some assets. Believe it or not, none of these actors have your financial interests at their core. Banks and asset managers make money for their business and themselves. This means that there are a bunch of hidden things expenses That you have to pay them to manage your money. This hides the actual cost of saving your money with a bank, and they will go to great lengths to ensure that you do not fully understand all the fees. These entities want to take your money and be silent.
When you compare this experience to buying and holding bitcoin, the experience couldn’t be more different. The price of Bitcoin is transparent and the fees associated with buying, selling and sending to a file are transparent Unguarded walt is not hidden. This price transparency gives you a better picture of how much you are spending on fees. The cost of holding your bitcoin in the long term is minimal. Buy a cold storage hardware wallet and you are good to go. There is no ongoing cost to storing your Bitcoin fortune. The money you save on fees alone by investing in bitcoin instead of a 401(k) or IRA will add up over the years.
What cannot be underestimated is the fact that you are in control of your wealth and not your retirement manager. The economy isn’t exactly stellar at the moment, and with inflation soaring to 7%, having easy access to your wealth in times of crisis will make all the difference. Can you imagine running a bank in which you cannot withdraw cash? Can you imagine your stock portfolio going to zero? This could happen to all of us. Lebanon A good example of what can happen when a debt bomb goes off and everything becomes unsustainable. You will wish you had Bitcoin! Fortunately for you, it doesn’t have to end up this way if you buy bitcoin now.
Giving up a 401(k) or IRA may seem like a radical idea, but have you ever stopped to think about why you should invest in a 401(k) in the first place? What benefit do you get from it other than having money in retirement? The most obvious reason to have savings for the future is the tax breaks you get from investing your money in the stock market.
get it; It becomes very attractive when you can deduct your retirement contributions from your tax liability. You are forced to do this if you think about it though. The government tells you we will take more of your money if you don’t invest your money in the stock market. Investing in retirement is not a completely free choice.
If there are no tax breaks, will you save for retirement? Would retirement be understandable? That’s for another article, but you’ve got a drift.
Saving for retirement with self-protected bitcoin won’t get any tax write-offs at the end of the year, but you’ll have the security of knowing your wealth is completely safe and appreciative. I am happy to take this swap any day of the week. Who would you rather control your wealth? Big banks or yourself? What do you trust more, bitcoin or stocks? This is the choice we all have to make.
This is a guest post by Robert Hall. The opinions expressed are entirely their own and do not necessarily reflect the opinions of BTC Inc. Or Bitcoin Magazine.
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