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How to start saving for retirement at 45 in Canada

Starting to save for retirement at 45 in Canada is still feasible, but it requires a proactive approach and potentially more aggressive saving and investing strategies compared to starting earlier. Here are steps you can take to begin saving for retirement at this stage:

  1. Assess Your Current Financial Situation: Take stock of your current financial situation, including income, expenses, assets, and liabilities. Understanding where you stand financially will help you determine how much you can afford to save for retirement.
  2. Set Clear Retirement Goals: Determine your retirement goals, including the age at which you’d like to retire and the lifestyle you envision during retirement. Knowing your goals will help you calculate how much you need to save.
  3. Create a Budget: Develop a budget that prioritizes saving for retirement. Allocate a portion of your income specifically for retirement savings. Look for areas where you can cut expenses or increase income to boost your retirement contributions.
  4. Maximize Retirement Accounts: Take advantage of tax-advantaged retirement accounts such as Registered Retirement Savings Plans (RRSPs) and Tax-Free Savings Accounts (TFSAs). Both accounts offer tax benefits that can help your savings grow faster. Consider contributing the maximum allowable amount to these accounts each year.
  5. Catch-Up Contributions: In Canada, individuals aged 50 and over are eligible to make catch-up contributions to their RRSPs. These contributions allow you to contribute more than the regular annual limit, helping you accelerate your retirement savings.
  6. Invest Wisely: Choose investments that align with your risk tolerance, time horizon, and retirement goals. While you may have a shorter time horizon compared to someone starting to save for retirement in their 20s or 30s, you still have time to benefit from long-term investment growth. Consider a diversified portfolio that includes a mix of stocks, bonds, and other assets.
  7. Consider Additional Income Streams: Explore opportunities to increase your income, such as taking on a side job or freelancing. Additional income can provide extra funds that you can allocate towards retirement savings.
  8. Seek Professional Advice: Consider consulting with a financial advisor who can help you develop a personalized retirement savings plan based on your goals, risk tolerance, and financial situation. An advisor can also provide guidance on investment strategies and tax planning.
  9. Stay Flexible: Be prepared to adjust your retirement savings plan as needed. Life circumstances and financial markets can change, so periodically review your plan and make adjustments as necessary.

Starting to save for retirement at 45 may require more aggressive saving and investing strategies, but it’s still possible to build a comfortable retirement nest egg with careful planning and disciplined saving habits.

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Cameron and Tyler Winklevoss, founders of the Gemini

cryptocurrency exchange, are now investors in Real Bedford Football Club.
The brothers invested $4.5 million in Bitcoin in the soccer club as part of a transaction facilitated by Winklevoss Capital, their investment company.

This new partnership puts them alongside cryptocurrency podcaster Peter McCormack, who acquired the club in 2022.

The financial injection of the Winklevoss twins to Real Bedford is committed to several future projects. These include the creation of a new training center, the creation of a soccer academy and increased support for youth and women’s soccer programs.

The Twins became indirectly involved with the club in January 2022 after Gemini became one of their sponsors.

With this latest investment, Real Bedford also plans to establish a Bitcoin treasury.

Real Bedford’s linking up with high-profile American investors echoes a similar trend seen at Wales’ Wrexham AFC, which actors Rob McElhenney and Ryan Reynolds bought in February 2021 for £2 million ($2.5 million ).

Like Reynolds and McElhenney, the Winklevoss twins are aligning their technology investing capabilities with sports, expanding their influence beyond traditional business sectors into regional and community sports initiatives.

But the Winklevoss duo are just the latest in a long line of wealthy investors who see football clubs as a lucrative trophy.

According to a recent S&P Global report, “A few decades ago, sports teams were primarily viewed as risky, vanity assets.”

Today the scenario is different. The rising value of sports broadcasting rights and changes in player salaries have turned sports into an asset class that “combines above-market returns with the defensiveness often seen in sports utility companies.” low growth.”

One team that reportedly intends to sell a minority stake is Portugal’s Sporting Lisbon Football Club.

The current negotiations over the deal follow a debt restructuring at the club, where superstar Cristiano Ronaldo started out.

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Bitcoin Soars to Recover $70,000, AI Predicts Ethereum and Rebel Satoshi Price Rising in Late 2024

Buckle up, cryptocurrency enthusiasts, because the market is taking off! After a brief dip, Bitcoin, the undisputed king of cryptocurrencies, recovered and reclaimed the $71,000 mark. This bullish rise is a welcome sign for investors who were starting to sweat after a period of profit-taking.

But Bitcoin isn’t the only major cryptocurrency it celebrates. Leading altcoin Ethereum and new memecoin Rebel Satoshi are also showing strong signs of life, with experts using artificial intelligence predicting a prosperous end to the year for both.

Bitcoin’s Resilient Recovery

Bitcoin’s recent volatility can be attributed to a classic case of profit-taking after hitting record highs last week.

However, the Federal Reserve’s decision to maintain interest rates and signal possible cuts for the end of 2024 injected a dose of optimism into the market. This and the weakening dollar fueled Bitcoin’s impressive return.

Analysts are cautiously optimistic, but one thing is certain: Bitcoin’s resilience is in sight.

Ethereum Boost After Dencun Update

While Bitcoin is in the spotlight, Ethereum, the innovative altcoin that powers decentralized applications (dApps), is quietly charting its own course. For good reason, Ethereum has consistently been ranked among the best cryptocurrency investments. Its unique blockchain technology allows developers to create secure and transparent applications, fostering a thriving ecosystem.

With the Ethereum Dencun upgrade just completed, experts are predicting even better things for Ethereum in the coming months.

The Dencun update on Ethereum introduces new data storage capabilities aimed at reducing the fee costs of its Layer 2 scaling solutions. The update also implements a fixed limit for validator input to manage the growth of the validator pool and maintain a efficient communication between nodes.

AI predicts a bullish end for Ethereum and Rebel Satoshi

The future of cryptocurrencies may be a murky picture, but artificial intelligence (AI) offers some intriguing insights. AI can predict potential price movements by analyzing large amounts of historical data and market trends. According to recent AI predictions, Ethereum and memecoin sensation Rebel Satoshi could see significant price increases by the end of 2024.

Rebel Satoshi: the renegade memecoin causing a sensation

The memecoin space, once dominated by Dogecoin, has welcomed a passionate new challenger: Rebel Satoshi ($RBLZ).

Inspired by the rebellious spirit of historical figures like Guy Fawkes and Satoshi Nakamoto (the pseudonymous creator of Bitcoin), Rebel Satoshi offers a unique combination of community, utility and investment potential.

Described by some investors as the best memecoin of the moment, Rebel Satoshi has a collection of 9,999 unique NFTs (non-fungible tokens) with exclusive digital art and collectibles. Owning $RBLZ grants users access to a vibrant marketplace, the opportunity to participate in missions and claim rewards, and the ability to stake their tokens for additional benefits.

Enter $RECQ: Feeding the Rebel Spirit

The Rebel Satoshi ecosystem is further driven by a second token, $RECQ, the native transactional token. Think of $RBLZ as the gold standard, the long-term investment that unlocks exclusive membership benefits. $RECQ, on the other hand, is the everyday currency used for purchases in the Rebel Satoshi universe, from arcade games and NFTs to in-game items and merchandise.

The future of cryptocurrencies: a multi-currency universe

The cryptocurrency market is evolving rapidly and it is increasingly clear that there is no “best cryptocurrency”. Instead, a diverse portfolio that includes established players like Bitcoin and Ethereum, along with promising altcoins and innovative memecoins like Rebel Satoshi, could be the key to long-term success.

With the rise of $RECQ fueling the Rebel Satoshi ecosystem and AI predictions predicting a bright future for Ethereum, the cryptocurrency landscape is full of exciting possibilities. As always, do your own research before investing, but one thing is for sure: the future of cryptocurrencies looks optimistic!

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Arizona State Considering Adding Digital Asset Exposure to Retirement Funds

Arizona is evaluating whether to add exposure to digital assets in government pension funds’ investment portfolios.

A new resolution passed by the Arizona state legislature would take a step toward converting pension funds for government and public safety employees into exchange-traded funds (ETFs) based on digital assets.

The proposal comes about a month after the US Securities and Exchange Commission (SEC) approved Bitcoin (BTC) spot ETFs. The agency may also approve additional ETFs for other digital assets like Ethereum (ETH) at some point in the future.

If passed, the resolution calls on the Arizona State Retirement System (ASRS) and Public Safety Personnel Retirement System (PSPRS) to take several actions that could lead to retirement funds gaining exposure to digital assets.

There are three main actions that ASRS and PSPRS must take:

“a) consider the implications of including a digital asset ETF in your investment portfolios.

b) closely monitor the development of Bitcoin ETFs and other digital asset ETFs and consider the implications of including such assets in your investment portfolio after consulting with any company to which the U.S. Securities and Exchange Commission has granted approval to offer a Bitcoin ETF digital assets.

c) present a comprehensive report on the feasibility, risk, and potential benefits of allocating a portion of state retirement system money to digital asset ETFs, including a list of options and recommendations on how the state could safely invest in the class of digital assets for the State. Treasurer, President of the Senate and Speaker of the House of Representatives at least three months before the beginning of the Fifty-seventh Legislature, First Regular Session.”

The Republican-sponsored resolution recently passed the state Senate by a vote of 16 to 13. Only Republicans voted for it, while only Democrats opposed it. The resolution is now being considered by the state House.

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Deribit Exchange Expects Bitcoin to Rise 20% in Next 30 Days, Targeting $80,000

In a major milestone for the cryptocurrency market, Bitcoin (BTC), the largest digital asset, broke its previous records, surpassing the $69,000 mark to set a new all-time high (ATH) of $69,300 on Tuesday.

The achievement marked a historic moment for BTC, which had not reached such levels for more than two years. However, the cryptocurrency’s upward trajectory shows no signs of slowing down, with experts predicting further price gains.

Bitcoin and ETF price in perfect harmony

According to data from Deribit, a crypto futures and options exchange and analysis company, GenesisVol, BTC is expected to see a potential rise of up to 20.8% in the next 30 days.

These projections suggest that, under ideal circumstances, the price of Bitcoin could surpass the $80,000 barrier. Even conservative traders are optimistic and expect BTC to easily surpass $70,000 and reach around $75,000.

Additionally, the recent approval of spot Bitcoin exchange-traded funds (ETFs) has played a key role in Bitcoin’s success, suggesting that the upward trend in BTC prices, coupled with bullish sentiment among options traders and institutional and retail investors, is far from over. .

Bloomberg ETF expert Eric Balchunas emphasized the importance of this development and stated that it represents a pivotal moment for both Bitcoin and ETFs. Balchunas believes the rise from $25,000 to $69,000 was largely due to hopes of ETF approval and subsequent flows.

The expert stated that the synergy between ETFs and Bitcoin has proven to be mutually beneficial as ETFs have increased liquidity, accessibility, convenience and standardization for investors.

Notably, ten-hold Bitcoin ETFs have amassed over $50 billion in assets, with a staggering $8 billion generated from inflows and the remainder attributed to Bitcoin’s rising value.

However, when Bitcoin reached its new peak, increased market volatility caused a surge in liquidations. Journalist Colin Wu reported a sharp 5% drop in the price of Bitcoin in one hour, with Binance recording less than $65,000. During this hour, deals reached a staggering $142 million.

BTC sell signal

Although bullish investors are currently on cloud nine, renowned crypto analyst Ali Martinez sounded the alarm when the TD Sequential indicator recently issued a sell signal on Bitcoin’s daily chart.

The TD Sequential indicator, developed by market expert Tom DeMark, uses price patterns and sequences to identify potential trend changes in various financial markets, including cryptocurrencies.

Martínez emphasized the indicator’s notable track record in predicting Bitcoin price movements since the beginning of the year. The TD Sequential indicator issued a buy signal in early January, just before the price of Bitcoin rose 34%.

On the other hand, a sell signal was given in mid-February, followed by a 4.44% drop in the value of BTC. Therefore, considering the previous sell signals, a possible drop to the $62,000 price level could be underway for the largest cryptocurrency in the market that still holds the $60,000 support, which will be key to BTC’s prospects.