I think this says it all and one of the many reasons we are all involved in Crypto. How do you save today and where do you store your savings as this is the main problem. Having a savings plan using a bank account will not set you free from the strangleholds of being poor. I agree is is a start but being able to buy groceries in your retirement is not guaranteed due to the ever rising costs.
Retirement should be the time we all sit back and relax with no financial worries but how many actually will experience this. If you had retired 5 years
ago thinking you had enough what a shock you would be in for today as that pension value would have shrunk by a good 20-30% in real purchase value. How would anyone saving each month using the normal method ever get ahead as this is not going to be easy unless it was big amounts each month.
The obvious choice is to find other methods to get ahead which we all know too well with one of them being Crypto. Timing is everything however and understanding market cycles otherwise you could easily over pay without the knowledge. This is the retail investors problem as they have not taken the time to learn and why they always seem to get burned.
$2000 invested today could easily turn into $20 000 plus in less than 12 months as doing a 10 x on an investment is actually quite common if you invest at the right time in the right project. Having a pension in place along with crypto should never see you worrying about your retirement ever again as that is the extra that is required to cover the shortfall which inflation will do.
The sad reality is that the current crop of pensioners will not be involved in crypto having a back up plan in place. Even in my age group which is over 50 I know there are very few involved as this age group is still set in the old way of thinking. This has to change or we will see poverty in the older age groups come their retirement years. This is not all their fault as what more can anyone do if you don't think outside the box.
I do think investing in Crypto is the answer as it can be used as a pension plan offering a monthly income. From my own experience with what I have in place pension wise my crypto will outperform whatever I have in place making the pension a passive income in comparison. That is quite pathetic and great at the same time as crypto will outperform something you have planned for decades. A decade in crypto will outshine whatever you have set up taking a lifetime of work to achieve which is kind of crazy.
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