Robert Gwiazdowski, a lawyer, passionate economist and would-be politician, is quite popular among cryptocurrency fans. Now he has strongly criticized (again!) our national pension system. Maybe his new Twitter post will provoke more people to save for their own retirement and not rely on the Social Security Administration (ZUS)? Is a Bitcoin pension a good idea? "Germans will have to work until the age of 70 or even longer. Otherwise the pension system will collapse," argues the Bundesbank. And we for that on average until 62.5 [years of age] and ours will not collapse. Because after all, the Germans will work for reparations for us. That's how it will be!" - Gwiazdowski mocks himself on Twitter. Retirement in Bitcoins "Maybe patriotically we will die faster!" - replies Gwiazdowski with black humor one of the twitterers. However, if someone does not plan to leave this paddock of tears and despair prematurely, perhaps it is worth starting to save on your own for the autumn of your life? The idea of retirement in Bitcoins is introduced to life by the creator of the Bitfilar blog. How is the future pension in Poland, everyone probably knows well. Small chances for anything reasonable, which would allow to spend old age with dignity. Especially if you were running a business. Looking for an alternative we come across various solutions. The third pillar, the fourth pillar, IKE, investment funds or other financial instruments on which the managers earn money. Or maybe a bank deposit? For 3% a year? Funny, right 🙂 One of my many areas of interest is cryptocurrencies. There is a good chance that you have heard of Bitcoin. (...) For the purposes of my retirement, it's enough to know that cryptocurrencies work like cash in the modern version. They have their own value (they're listed on exchanges, they have their own exchange rate), they can be safely stored, they can be transferred instantly over any distance with virtually no fees, and - with a little effort - they're anonymous. And they are still in the early stages of development. Anyone who touches them is still an early adopter, which means that - in all likelihood - a long-term investment in cryptocurrencies will be very profitable." - explains the idea of his experiment on a living (in addition, his own!) organism the creator of the blog. As he presents on the blog, he chose four cryptocurrencies for his "retirement basket" and gave them percentages indicating their occurrence in the basket. Nearly half (45 percent) of the funds he saves are invested in BTC, 30 percent. - LTC, 15 percent. - DASH and 10 percent. - DOGE. Looking at the development of the market, ETH or other younger cryptocurrencies are missing, but this is an individual decision of the saver. "How much do I put away? I didn't want to set any fixed amount. Well, because you know - inflation, fluctuations in financial markets, etc... So I decided that the value of the monthly investment will depend on the minimum wage in Poland. In 2019 this amount is 2250 PLN. And every month I invest 10% of this amount, i.e. PLN 225". - he further describes. As you can see by the amount, it is not a shocking scale and actually each of us could afford a similar investment (especially people who receive, for example, 500 plus). According to his calculations, which can be followed on the website, our blogger put aside in this way 10 320 PLN. However, after 52 months he already had 60 25 PLN, which translates into 482.6 percent rate of return. So maybe retirement in Bitcoins is not such a crazy idea as you may first think? Of course - if you do decide to take this step - remember to store your cryptocurrencies safely so someone doesn't steal your savings. Gwiazdowski attacks Social Security Robert Gwiazdowski himself, on the other hand, has been attacking Social Security for years. He has become famous for frequently repeating in the media that, as a member of ZUS's supervisory board, he confirms that "there is no money in ZUS." With these words - perhaps shocking for someone who does not understand how the pension system in Poland works - he explained how the current system, which is supposed to provide us with decent pensions in the future, functions. In short - there is little chance that it will provide... Demography is implacable. Fewer and fewer children are born in our country, while statistically we all live longer and longer. What will be the consequences of this phenomenon? They are not difficult to imagine. Fewer and fewer people will be working for more and more pensioners in the future. What will be the further result of this? Politicians are increasingly talking about the need to introduce a citizen's pension. Will this completely solve the problem? Doubtful... Gwiazdowski himself has also already criticized the recent pension reform plans introduced by the United Right government regarding Employee Capital Plans. "Mateusz Morawiecki may miscalculate that three quarters of Poles will remain in the new pension system voluntarily," - he said on Money.co.uk in the autumn of 2017 and added, talking about the minimum pension: "The civic pension is self-implementing. In a dozen years or so, three-quarters of those who will retire
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