Cryptocurrencies and other digital assets have quickly become part of the new normal in the financial industry. With a significant portion of the American workforce already nearing retirement, many are rethinking their strategies. California-based Dan Schatt and Domenic Carosa want Crypto to be a stable purchase option that the people can take advantage of.
A Positive View
Numerous Americans think positively of integrating cryptocurrency in their retirement strategies. A recent study by a retirement consulting company showed that more than a third of the 1,004 U.S. workers surveyed hold some form of crypto holdings to help fund their retirement. The research also illustrated that 55% of Gen Z and millennials and around 20% of Gen X and baby boomers have crypto assets as part of their retirement portfolio.
Many people across various generations are betting on crypto. However, the younger generations are keener on the purchase strategy, possibly because their long time horizon before retirement allows them to take on the greater risk associated with crypto purchases.
Some Things to Consider
While crypto buying can be lucrative, the market is highly volatile, and buying in it carries much higher risks than traditional financial instruments. The fact that cryptocurrency is decentralized and relatively inexpensive makes it a viable option for inclusion in a retirement portfolio. After all, many financial planners and advisors recommend buying alternative assets for portfolio diversification. The buyer can hedge his purchases against risks and market volatility.
Dan Schatt and Domenic Carosa believe that people benefit a lot from buying crypto. However, the Earnityleaders advise against going all-in on crypto assets as a retirement fund vehicle. At the most, cryptocurrency should only supplement retirement savings and not be a significant portion of one’s total buying strategy for retirement.
