More Than Half of Americans Oppose Cryptocurrency in Retirement Savings: Survey Results

53% of Americans oppose employers offering cryptocurrency as a tool for retirement savings, according to data from the National Institute on Retirement Security. A third of these 53% of respondents are firmly against including cryptocurrency in retirement programs. Only 6% of those surveyed fully support using this asset for building retirement savings.

77% of survey participants consider adding cryptocurrency to corporate retirement programs a risky move, while 46% rate employers’ investments in digital assets as “very risky.” Only one in ten Americans considers investments in cryptocurrencies for future retirement “not too risky,” and only 2% of respondents see no risk in them at all, the research materials note.

61% of respondents are unsure whether they will be able to achieve financial stability in retirement. 68% of those surveyed stated that preparing for old age is becoming increasingly difficult due to high housing rental costs, significant indebtedness, and rising medical expenses. Meanwhile, 77% cite debt burden as the main obstacle to accumulating sufficient funds. 13% admitted that they do not have the opportunity to save for retirement jointly with their employer.

The authors of the study concluded that skepticism regarding the use of cryptocurrency in corporate retirement programs remains prevalent in American society.

On August 7 of last year, U.S. President Donald Trump signed an executive order allowing the use of digital assets in standard 401(k) retirement plans. In March, the U.S. Department of Labor proposed rules regulating the use of cryptocurrencies in 401(k) investment plans. According to the draft rules, employers must consider factors such as fees, liquidity, valuation methodology, and historical asset returns. The final decision on whether to allow or prohibit pension funds from investing in cryptocurrencies formally remains at the state level.