It is never too late to start planning for retirement. When doing so, most people shy away from risky (read: volatile) investments like Bitcoin, but that may be soon changing. For people planning their financial future, Bitcoin and other cryptocurrencies represent a hedge against the current financial system.
Setting Money Aside for the Future
Almost everyone has heard of the importance of actively saving money for retirement. Many people are maxing out their 401(k) contributions, socking money away in a traditional IRA, or investing in mutual funds.
Most retirement plans subscribe to the “contribute and coast” mentality. However, to keep everything running smoothly and to help ensure maximum earnings, planning your finances needs semi-regular reassessment as the global financial landscape changes. Cryptocurrencies may be one of the biggest financial changes we have seen in the past few decades.
Cryptocurrencies bring an entirely new asset class into the wider market. The absurd price swings that have made Bitcoin notorious can be very attractive for people willing to take investment risks. Some cryptocurrency IRAs have even been approved by the IRS. The big question is whether or not this new, risky investment belongs in retirement accounts. Here are three sound …
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