Musing About Concepts: Is a Smart Contract Within a Contract, Smart?

Say someone has an IRA (Individual Retirement Account) set up as a smart contract.

Where he/she or their employer or both deposit a certain amount of money into it every month, the contract is set to pay out on their 65th birthday, or on proof of death.

But due to unforeseen circumstances, they need money now and would like to break/sell the smart contract.

If we make a new contract that changes the ownership, then the old owner would have to hand over the seed phrase to their wallet to the new owner, but the old one would still be able to access it.

However, we could code the wallets in such a way that, in addition to the access seed phrase, the owner of any given wallet could set up an added security inside the wallet with their own seed phrase, and could change it at will.

In this way, the only manner to get money out would be if you know the inside security codes.

There are some additional concerns.

What if the first party changes jobs and money stops coming in?

We could add some kind of insurance for such an eventuality.

Or both parties could agree that only the sum in the contract at the moment of sale would become available at the stipulated time.

In the case of the currency in the account being Bitcoin, for instance, this might grow to be more valuable over time, which would turn this into a kind of futures contract, like in the stock market.

Food for thought? Let me know what you think!