• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Breaking News: BREAKING: Terra Founder Do Kwon's Extradition To The US Approved
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Terra Founder Do Kwon's Extradition To The US Approved

Millennials Are Buying Cryptocurrencies to Save For Retirement

Julio Gil-Pulgar by Julio Gil-Pulgar
6 years ago
in News, Altcoin News, Bitcoin, Bitcoin Investment, News teaser
0

Among millennials, the cryptocurrencies investment trend is gaining momentum for retirement purposes. Moreover, as tech-savvy millennials are shunning traditional banking methods, innovative startups are creating new retirement solutions powered by blockchain and artificial intelligence technologies.


Millennials Are Reshaping the Retirement Planning Industry

Most millennials, people born between 1981 and 1996, are not saving for retirement. For example, in February 2018, the National Institute on Retirement Security released a study, which concluded that “95 percent of millennials are not saving adequately for retirement.” Then there’s the fact that over 66 percent of working millennials have nothing saved for retirement.

Millennials

However, a growing number of millennials are investing in cryptocurrencies. For 21.2 percent of college students, the urge to buy cryptocurrencies even involves using their financial aid money, concluded a survey conducted by The Student Report. Rachel Wolfson writes on Bloomberg:

Interestingly enough though, one of the main reasons millennials are investing in cryptocurrencies is to save for retirement funds.

Indeed, millennials are attracted to technology and cryptocurrencies. According to a survey conducted by CREALOGIX, millennials are increasingly turning to cryptocurrencies, while rejecting traditional methods of banking and payment.

Blockchain and Robot Technology Are Powering New Retirement Tools

Innovative startups are redefining the retirement landscape by using blockchain technology and artificial intelligence to create new retirement savings solutions.

For example, Auctus offers a retirement planning platform that focuses on both traditional assets and cryptocurrency investments by using smart contracts and robo-advisory technology. According to the company website:

The Auctus Platform brings retirement savers from around the world together, providing a trustless marketplace where users can create and exchange tailored retirement apps and services.

Cryptocurrencies, blockchain, and robotic technology

On the other hand, financial experts are already debating the pros and cons of including Bitcoin and other cryptocurrencies in retirement savings instruments, such as 401 (k) plans.

For example, Charles Hodge, Investment Services Consultant at Milliman, concludes, “At this time, Bitcoin and other currencies are not appropriate for retirement sponsors.” Rick Pendykoski, founder of Self-Directed Retirement Plans LLC, believes that Bitcoin should not play a significant role in a retirement plan. However, Pendykoski advises:

Investing in Bitcoin works best if you already have a healthy mix of short-term and long-term assets in your portfolio, and are investing for retirement in an IRA or other tax-advantaged plan.

Investors can already put their Bitcoin, Ethereum, and other cryptocurrencies in an IRA. BitcoinIRA facilitates the transfer of an IRA or 401K fund to a Bitcoin IRA. BitcoinIRA claims to have already processed 300 million USD in the last 12 months.

Raphael Vantroost, CEO of Auctus, believes that cryptocurrencies are encouraging millennials to invest. In this regard, Bloomberg quotes Vantroost, who says:

Bitcoin and cryptocurrencies serve as some of the first investments for many millennials. This could be because the younger generation is tech-savvy, but it could also be due to a lack of alternatives.

Do you think Bitcoin and other cryptocurrencies will become a mainstream retirement investment opportunity? Let us know what you think in the comments below.


Images courtesy of Shutterstock.

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Julio Gil-Pulgar

Julio Gil-Pulgar

Julio has worked for Fortune 100 companies and the United Nations. He has led projects involving IT, operational, and compliance audits, in the U.S. and throughout the world. His expertise is in cryptocurrencies, IT engineering, risk management, and security. Julio is also a tango dance enthusiast.

Related Posts

IBM

Big Blue’s Big Move: IBM Reveals Cutting-Edge Crypto Cold Storage Tech

4 hours ago
Bitcoin

Swiss Pioneers: Lugano City Breaks New Ground, Accepts Bitcoin And USDT For Taxes

1 day ago
Bitcoin

The Bitcoin Boom: 50 Million Addresses Signal 20% Rise In Adoption

2 days ago
Ethereum

Ethereum Metaverse Game Immortalizes Rapper ‘The Notorious B.I.G.’

2 days ago
BlackRock Bitcoin

BlackRock Has Actually Seeded Its Bitcoin Spot ETF, What This Means

2 days ago
Cryptocurrencies

Cryptocurrencies Fund Inflows Skyrocket To $1.76 Billion, Fear/Greed Index At Pinnacle

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
Inmerion
Inmerion

Press Releases

  • Ethereum’s Next Chapter: Exploring Emerging...

    47 mins ago
  • How and where to buy Retik Finance (RETIK)?

    7 hours ago
  • Retik Finance (RETIK) has everything to be the hottest Defi...

    7 hours ago
  • As EOS and Celestia Investors Seek New Ventures, a Budding...

    9 hours ago
  • Missed Out on Dogecoin (DOGE)? Uncover the Must-Watch...

    9 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.