Saving up money for harsher times has been a go-to solution for many generations now. Especially in this day and age with low to negative interest rates and very volatile stock markets. But as it turns out, saving too much money is not always the best course of action. Since there are very few viable investment opportunities left, looking closer at Bitcoin for a retirement fund may not be such a bad idea. Building A Retirement Fund Is Not Easy
Most people assume that slowly building up a retirement fund will be enough to cover all costs and allows for living a comfortable life. But in most cases, that is not entirely accurate, as elder people often complain they can barely make ends meet . Saving up money for a rainy day is a traditional strategy to have some financial breathing room, and for most, it works just fine. That being said, the situation may come to change very soon.
This situation is only made more difficult since no one knows how much they “need” to retire comfortably. The more, the better is always the case, but there has to be a “perfect spot” for people on the brink of retiring. Putting together a retirement savings portfolio needs to support a 4% annual withdrawal, according to some financial experts.
Truth be told, the rate of 4% may not be sufficient for most people, and a 6% threshold is more realistic. To put this in perspective, that would require a lot of money to be saved up throughout one’s life. Market volatility presents very few viable investment options these days. Stocks are no longer a haven, and gold will not appreciate much over time to make sure enough money can be saved.
Moreover, there is a problem with the “saving up money” […]
