Do you have a retirement plan in place yet? Where would you like to put your money to work? A recent study found that 50% of Gen Zs want crypto investments in their 401(k). Participants in the study were US 401(k) participants who contributed to their individual 401(k).
As Gen Z reevaluates traditional retirement practices, 401(k)s are no longer the only form of retirement saving. At the moment, there are investment fund providers offering 401(k) investors crypto investments, but we should keep in mind that cryptocurrencies are still in their infancy as an asset class, and we do not know how they will perform in the future.
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Risk tolerance and appetite with crypto investments.
Considering the current market conditions, Gen Zs should determine how much they are willing to risk. It may be helpful to read, learn, and understand the different risk-reward profiles, cryptocurrencies, and strategies to diversify investment portfolios, stocks, or bonds to determine their risk appetite.
You should carefully consider whether cryptocurrencies fit into your retirement plan before investing.
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A different kind of retirement
There may be a change in the traditional path of working full-time for 40+ years, then retiring to a life of leisure at 65. There are new forms of work that are more flexible and can take many forms.
People are choosing to work longer as they live longer. You can supplement your retirement savings plan by working to earn income without investing your money in speculative assets. Many 60-somethings skills are still in demand and they are still at it.
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[Editor’s Note: Please do your own research before investing. The views and opinions expressed in this article are those of the author and do not necessarily reflect the views or positions of Continuum]