After looking through many studies showing the state of retirement in America today, there seems to be much room for improvement.
The National Institute on Retirement Security came out with some rather concerning statistics in their report released earlier this year, specifically that two-thirds of working millennials have nothing saved for retirement. Meanwhile, according to a Vanguard retirement study, the average account balance of nearly $104,000 was misleading because of a small number of large accounts skewing the average higher, while the median is much lower, at $26,000. And the 18th annual Transamerica Retirement Survey revealed that while 62% of workers are confident that they will be able to retire with a comfortable lifestyle, as many as 56% believe that they have not yet fully recovered financially from the Great Recession and as many as a third expect that they will see a decrease in their standard of living during retirement.
It’s time to expand the retirement savings toolkit and look at additional options, with a focus on portfolio diversification.
Benefits of Portfolio Diversification
Many experts in the financial sector advocate for portfolio diversification as a means of boosting return on investment while also minimizing risk. “For a variety of reasons, people do not understand the value of having a broadly diversified portfolio,” said Barry Ritholtz. “Perhaps they think it shows a lack of corporate loyalty to their employer…But every worker who gets company stock also gets a salary from that same employer. That is a very intense concentration of financial risk. For those workers, diversifying their company stock into broad indexes is a prudent approach.”Furthermore, decentralized assets such as Bitcoin and gold, which are removed from the stock market or any particular currency, act as a hedge against inflation, as well as any political, social, or economic unrest. And according to research done by Ark Invest and Coinbase, Bitcoin is “the only asset that maintains consistently low correlations with every other asset,” making it a strong choice as an alternative asset in a diversified retirement portfolio.
How Bitcoin IRA Works
BitcoinIRA.com, the world’s first and largest cryptocurrency platform, allows customers to purchase Bitcoin and other cryptocurrencies for their retirement accounts and store them in a BitGo digital wallet, the leader in multi-signature encryption technology. In 2017 alone, the company processed over $300 million in investments. To learn more about how to diversify your retirement portfolio with Bitcoin or other cryptocurrencies, give one of our IRA specialists a call today at 877-936-7175.
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