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401(k) Attorney: The average person's goal is to have a secure and reliable retirement plan, and the high short to mid-term volatility of cryptocurrency poses a risk.
BlockBeats News, August 8th. On Thursday, U.S. President Trump signed an executive order allowing alternative assets such as private equity, cryptocurrency, and real estate to enter workplace retirement plans. However, some investor advocacy groups warn that while these new investments may offer attractive returns, they also come with significant risks for long-term retirement savers.
Jerry Schlichter, founding partner of the law firm Schlichter Bogard, which specializes in 401(k) high-fee litigation, stated: "The goal for ordinary people is to have a secure and reliable retirement plan. New areas like cryptocurrency or private equity are full of various risks for investors."
Investment experts typically advise allocating the core of a long-term investment portfolio to diversified assets that can provide stable returns over the long term (at least several decades). Jerry Schlichter pointed out that given the long-term upward trend of the stock market, broad-based stock index funds are a suitable 401(k) investment choice.
The issues with cryptocurrency are clear. While some cryptocurrencies have delivered staggering returns, these assets have been around for too short a time to prove their security. "Cryptocurrency lacks a long-term performance history, and its short- to medium-term performance is highly volatile," Schlichter said. "If you don't understand this investment, you should not rely on it as part of your retirement assets." (CNBC)
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