The original post: /r/bitcoin by /u/Eierjupp on 2024-12-09 11:00:31.

Two years ago, my parents (66 & 68) had to sell their house and have been living off the proceeds ever since. A year ago, I discovered Bitcoin, and I realized that they were sitting on a large sum of money with little to no interest, while also spending more than they should. It became clear to me that their money wouldn’t last, especially considering they could easily live another 20 years. I calculated they would run out of funds in about 9 years if they kept spending this way.

So, I decided to gently orange-pill my dad over time. Finally, in August of this year, he decided to buy 0.35 BTC with 10% of his Fiat. Now, he’s so glad he did. He fully understands Bitcoin, keeps up with the news and fundamentals, and is determined to hold it for at least 10 years. Bitcoin is now his last financial reserve in case of an emergency. Since then, I’ve been able to sleep peacefully, knowing my parents will be financially secure for the long term. The peace of mind I have is truly priceless.

So this is a call to action: Those difficult conversations with your loved ones are worth it. You don’t need to convince everyone, but there are people in your life who will be forever grateful for your guidance.

Edit 1: For all the people saying that it is / was to much of a risk for my parents. i (29) promised my dad that i would pay for every loss if he holds his BTC atleast for 5 years or if he has to sell it in a emergency. I offered him to sign a contract about it as well but he always declined. But i 100% would keep my word.

Edit 2: The 9 years of funds are a worst case calculation, meaning the one volatile income stream that they have dries up and they dont cut their cost, which could be easily done in a not life changing way and im on it. Meaning: If all goes to plan, their fiat will be enough for the next 10 years even after the purchase of btc. So holding the BTC for 10 years is definitley possible.