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Professionals predict a coming retirement crisis, and at this time, it’s simply a question of when. Nowadays, it’s more costly than ever before to retire, and the basic fact of the matter is that most Americans simply don’t have enough money saved. That trend doesn’t appear to be getting any better either: whether as a result of bitcoin ira or even the rising costs of just living, progressively more people haven’t increased the amount they’ve saved when compared with last year.

Fortunately, you can beat the challenges facing those saving for retirement today, but first it’s advisable to be aware of the current landscape that creates doing that difficult. Retirement Accounts in Bad Shape – Or Nonexistent

What’s creating the retirement crisis? An alarming quantity of Americans are simply unprepared for that financial realities of retiring. The executive director of Georgetown University’s Center for Retirement Initiatives, Angela Antonelli, told PBS Frontline that “The the truth is since we look at what people have set aside for retirement today they haven’t put a whole lot away for people who are age 65.” According to a report from PBS Newshour, nearly half of retirement aged Americans have lower than $25,000 saved. Worse still, another twenty five percent have less than $1,000 saved.

A Bankrate survey took a look at American financial security and discovered some answers. Reporting that Americans didn’t put money into retirement because incomes when compared with last year either stayed exactly the same or actually dropped, the survey also cited federal data that shows real wages have barely budged in decades – both major contributors towards the retirement crisis.

Touting analysis from the Pew Research Center, the survey proceeded to express that based on the current average hourly wage, purchasing power is the same today which it is at 1978 after adjusting for inflation. This, alongside increasing housing costs and rising prices for consumer goods signifies that more Americans are feeling the pinch.

Greg McBride, chief financial analyst with Bankrate.com, states that “Stagnant income and rising household expenses mean there is little financial wiggle room for many Americans.”

Advantages of Portfolio Diversification – How can people steer clear of the retirement crisis? A bitcoin ira account is just one smart strategy. Diversification, based on Investopedia as “a technique that reduces risk by allocating investments among various financial instruments, industries, and other categories,” the goal of diversification is to maximize return by investing in different areas that could each react differently towards the same event.

Which is, having a diverse portfolio comprised of unrelated investments would offer protection against a volatile market. A dip in the stock exchange, as an example, would expose an investor who had diversified their savings into, say, real estate and cryptocurrency, to less risk than an investor who had only committed to mutual funds stocks, and bonds. Based on research conducted by Ark Invest and Coinbase, “Bitcoin is the only asset that maintains consistently low correlations with every other asset,” rendering it a solid candidate for portfolio diversification.

Cryptocurrency and Retirement – Despite market dips, many experts feel that the long term outlook for crypto is positive. Although it’s now been pushed to early 2019, major players including Starbucks, Microsoft, kuxwkr a few others are working together to produce a major cryptocurrency platform called Bakkt, which experts say is actually a giant vote of confidence in the future of digital currency. “This is huge news,” CEO of BK Capital Management Brian Kelly told CNBC’s Fast Money. Kelly also manages blockchain-focused BKCM Digital Asset Fund.

“They’re speaking about getting this into your 401(K). They’re talking about inside your … Fidelity or TD Ameritrade account, you’re going to be able to purchase a bitcoin ETF, useful reference. It expands the universe,” Kelly said.

Using a move which brings cryptocurrency as far into the mainstream as a Grande Frappuccino, digital coins gain a level of institutional trust they didn’t have before, along with an air of legitimacy among everyday consumers, potentially ultimately causing even more widespread adoption. Will this lead to a steady upward climb for crypto once the correct market corrections settle down, which makes it a safer bet for retirement? Some experts are bullish.

“Traditionally volatility scares most investors regardless of asset class,” Christopher Bates, a former member of the NYSE, told Forbes. “Bakkt will draw resources from reputable companies with knowledge in fields of risk management and technology to make a federally regulated platform. Once investors feel at ease trading in a regulated environment volatility should ease.”