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Cryptoknowmics 2022-06-10 09:00:48

Should You Include Bitcoin In Your Retirement Plan? You May Need to Check!

In the current financial and investment markets, cryptocurrencies continue to advance. As a result, some experts advise that investors include these digital tokens in their 401(k) retirement plan. On the other hand, others question this choice. For example, Fidelity Investments, which manages more than $2.7 trillion in 401(k) plan assets, is the United States’ largest 401(k) plan provider. It recently announced that it would permit its clients to invest a portion of their retirement savings in Bitcoins if their employers agree. Some individuals are uncertain whether Bitcoin is the best cryptocurrency for 401(k) investments. However, others are not sure whether investing in Bitcoin as part of a retirement plan is good. For example, Ronald Roge, chairman, and CEO of R.W. Roge & Company in Naples, Florida, has made it known to Yahoo Money that he would be hesitant to recommend investors to put their bitcoin in a retirement plan. Criticism of Lack of Diversification for Cryptocurrencies As discussed previously, diversifying 401(k) retirement accounts solely with Bitcoin raises many questions about portfolio balance. This is because it’s not the best way to handle a potential market downturn. Possibility of Theft and Fraud In charge of workplace retirement plans, the Department of Labor is also concerned about 401(k) plan investments in bitcoins. As a result, the Department of Labor has advised plan fiduciaries to take extreme caut...

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Should You Include Bitcoin In Your Retirement Plan? You May Need to Check!

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