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Bitcoin as part of retirement savings?
With Social Security replacing a scant 40% of pre-retirement income, retirees and near retirees are constantly on the lookout for “return” and/or the “next big thing.” Is Crypto that thing? Soon investors will be able to add cryptocurrencies to their 401(k) accounts. Fidelity announced this week it will begin allowing investors to put cryptocurrencies such as bitcoin in 401(k) retirement accounts, the first provider to do so. But do cryptocurrencies have a place in retirement savings? That’s the subject of this CNBC piece by Carmen Reinicke. Many financial advisors say it can be part of a well-balanced investment portfolio, and have noted that clients have already been adding it to their investments outside of employer-sponsored retirement savings. Full article here.