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0 sats \ 3 replies \ @stack_harder 22 Nov \ on: Would you advise your Mom to buy BTC instead a property? bitcoin
This is a tricky one, because on the one hand, as a bitcoiner i would say fuck yes, on the other hand, your mum isn't a bitcoiner and if she isn't into btc or maybe doesn't want to learn about it etc, then the slightest dip in price could cause her to be very sad, upset, and it could damage your relationship. Her friends would probably think you were a lunatic drug dealer for even suggesting something like that, older generation and all.
You could try a compromise, for example, figure out how much she needs to live comfortably per month, say 1000 USD, sell the house then allocate the equivalent of 5 years of that amount from the sale for her to just live on (i don't know if you would have to move the money to a Venezualan bank etc) and then put the rest in bitcoin and manage it for her.
Then after 5 years of gains, she could start living off that.
or something like that
I was thinking about the same strategy, I need to run some numbers with her.
One of the problems is to estimate future expenses with the hiper inflation in Venezuela and we can not estimate future expenses for an elderly woman.
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very true, a health crisis can pop off any time at that age.
that being said, you wouldn't be converting all to Bolívars, right? like you could have the btc stack and the other pension funding stack in dollars just to be converted when needed, once of a few times per month depending on inflation.
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the slightest dip in price could cause her to be very sad, upset, and it could damage your relationship.
Think about that bit a lot when people ask for financial advice. (Thankfully bitcoin did its thing after one such advice materialized: #755878)
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