Would you stake your retirement on crypto? That could become a reality with 401(k) plans permitting cryptocurrency investment, but is it a sound investment strategy?
against the Department of Labor and Secretary of Labor Marty Walsh in the United States District Court for the District of Columbia, seeking the withdrawal of a compliance assistance release.
According to Kline, part of the “retirement crisis we have in this country [the U.S.] is due to a lack of participation in 401s.” He added that such moves could be a way to get newer generations engaged through their employer-sponsored plans and help Americans retire while testifying to the resilience and relevancy of crypto assets. Kline added:
According to Melker, even a small allocation in these assets potentially offers “idiosyncratic risk and the opportunity to invest in an asset [that] can go up when everything else is dropping.” Melker added that crypto markets crashing ahead of retirement might not be the biggest concern, saying: According to Strachman, an individual’s level of exposure to crypto assets should depend on several factors, including age, income, other assets and more. To him, it’s “all about investor education,” as there “needs to be significant information, content and educational programs available to investors, regardless of the size of their assets.”
Speaking to Cointelegraph, Perfumo noted that retirement is often associated with low risk, but “This heuristic misses the market,” as $1 compounding over 30 years at an 8% rate will grow to surpass $10, while that same $1 compound over 30 years at a 6% rate grows to $5.74.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin in 401(k) plans is a terrible ideaOPINION: “Our retirement system is wobbly enough; let’s not turn 401(k) plans into casinos,” columnist Alicia H. Munnell writes.
Read more »
Bermuda Could Emerge as a Crypto Hub, Minister of Economy SaysCrypto's ongoing decline could actually aid Bermuda's goal to become a global hub of the digital asset sector.
Read more »
How to Make Money From the Crypto BacklashIt’s a cycle: A crypto price bubble draws in a new wave of speculators making bad bets, then the market falls, as does sentiment. Criticism of crypto is healthy, but be wary of plain doom and gloom, writes davidzmorris.
Read more »
American Fast Food Chain Chipotle Embraces Crypto Payments in the USThe signature Mexican-style restaurant chain Chipotle said all American customers can now settle their burrito bills in digital currencies.
Read more »
Layoffs Spread Across the Blockchain Industry as Bear Market Cycle Impacts Crypto Firms – Bitcoin NewsDuring the past few months, the bear market cycle is starting to take its toll on the crypto industry’s workforce.
Read more »
Forces Opposed To Crypto In D.C. About To Make A Big Move?A faction of Washington, D.C. regulators is apparently considering a move to tighten the vice on digital assets that could – if implemented – perversely incentivize unregulated crypto activity in the U.S.
Read more »