Did you hear about the new Netflix doc coming out about Bitcoin blunders? It’s called “Tales From the Crypto-currency” and we’re all on the edge of our seats. 💰🦹 Actually, we made that up…
Thinking about throwing a little crypto coin into your retirement strategy? 🤔 It’s not so cut and dry. Before you take the leap, school yourself with these tidbits.
Here’s Five Fast Facts on crypto and your retirement:
- 📈 Crypto Craze - Crypto really took off during the pandemic when everyone was worried about inflation. Bitcoin hit a peak value over $100K in January ‘25, but the seas got choppy after that. The investment is known for its major mood swings, where values experience wild highs and lows within a super-short timeframe.
- 🚀 To the Moon - Right now, your options for plopping some crypto in your 401k are pretty slim. Back in 2022, the DOL advised investors and financial professionals to proceed with caution. But things could change soon. On April 1st of this year (no fools), the Financial Freedom Act came in hot with a future goal of allowing crypto in employer-sponsored plans.
- 🧐 Vibe Check - Although some crypto investors hit it big and make out like bandits, it’s a pretty risky investment. Its value comes from speculation (AKA thoughts and theories) and other abstract things like scarcity and security. Traditional investments like stocks get their value from concrete things like earnings and dividends.
- ⚖️ Regulators…Mount Up - On top of how risky the investment is itself, crypto doesn’t have a government body regulating it. That means little to no protection if your coins get stolen or caught up in a scam. The future of crypto looks promising and there may be regulatory measures in place down the road. But right now, it feels like the Wild West.
- 👴🏻 Age Old Question - Still thinking about buying some Bitcoin? Consider how close you are to retirement age. The closer you are, the more important it is to protect the nest egg you have and make it go the extra mile. When you’re younger, you have a little more wiggle room to try out a new investment and see how it goes. If it flops, you have more time to recover before retirement.
🔥Bottom line: If you’re in your golden years, crypto could be a gamble depending on your financial situation. Always tap a professional when looking to make a big money decision! Did you know Millennials are getting richer quicker than any other generation? Must be all that avocado toast, huh? Head here to read more!
Do you invest in crypto?
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