Cryptocurrency

1 Million dollars was not enough for the rest: it’s time for Plan Bitcoin’?

The traditional means to Save, Invest and even for retirement show in the present and deeper into the future cracks. Negative interest rates threaten to destroy the savings, and it has been reported that even $ 1 Million in retirement will not be sufficient. Could be used Bitcoin as a hedge?

If a Million dollars is not enough

These are worrying times for the future of savings and money mean that people have to look for alternative means. To ensure that your savings grow, survive, and then have a Chance to and not by way of a bad monetary policy will be affected.
To this end, many to what is often called the future of money: Bitcoin.
For the nest egg in retirement of the generation show will not be enough differences that 1 Million dollars in the Bank – which was the gold standard for pension funds, in order to support a Person in their later life.
The advice is of little help, “earn more or spend less”. However, it should be perhaps “buy Bitcoin”.

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Million-Dollar-Poverty

Mark Avallone, President of the “Potomac Wealth Advisors”, has outlined how the value of a 1-Million-Dollar Notgroschens in retirement has changed drastically from boomers to the Millennials.
Avallone explains how the 67-year-old baby Boomer, now with 1 Million dollars in the Bank in retirement, adjusted will generate, under the assumption of a sustainable withdrawal rate of 4 percent inflation, $ 40,000 per year to live on.
With a Million dollars in the Bank, a 42-year-old “Gen Xer is adjusted for” inflation only $ 19,000 per year to earn when he finishes his career. And that’s all.
Even more disturbing is that a 32-year-old Millennial, the plant at the age of 67, to go with $ 1 Million in retirement would be living below the poverty line.

Bitcoin is the answer?

The connection between the dire financial future of the Millennials, and their appreciation for Bitcoin and the development of the financial area, is not too surprising.
For the Millennials, the on your retirement to look, and with negative interest rates, another financial crisis, and the relatively pointless piece of advice “the money is more or less” to spend are faced, Bitcoin is much welcome.
In General, people will be discouraged to invest in Bitcoin for your retirement, because the asset is very volatile and is still relatively untested. Finally, it is only since about ten years on the market.
More still, Bitcoins and downward movement, means that the boom is starting as an investable asset may be over, if he slides in parallel trade, or a slow decline.
“You can jump on the train when he leaves the station, or you can be the Person in the first class, the waiting for things to get underway,” explains Jay Blaskey, a specialist in digital currencies BitIRA.
However, Bitcoin as an Alternative for Millennials, who are waiting for their retirement could be an undeniable reality. The Dollar loses value, interest rates fall, and the only asset that has shown in the past ten years, significant growth, is Bitcoin.
The snow-ball effect, down on Bitcoin, could be quite the booming industry that helps the asset to legitimize yourself in the future as an asset.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.