'Old age savings is a big risk actually, but there is a lot of potential.'
Financial services firm Charles Schwab reports half of Gen Z and Millennials believe crypto is the best retirement investment.
According to a survey conducted by Charles Schwab, Millennials (those born between the 1980s and 1990s) and Gen Z (between the 1990s and 2010s) want crypto to be part of their *401 (k) sentiment plan.
*Retirement savings and investment plans offered by employers in the United States (US).
Drilling down to the core, 46% of Gen Z and 45% of Millennials 'want' to make crypto a part of their retirement plans while 90% of the combined generation engages in crypto investing.
The survey also found that 31% of Gen Xers and 11% of Boomers (those born between the 1940s and 1970s) also support crypto investments as part of their 401(k) retirement plans.
Even so, the inflation situation is seen as a challenge to the integrity of the economy as outlined by respondents in the survey.
A study conducted by Investopedia found that only 28% of Millennials and 17% of Gen Z in the US are able to support their retirement with crypto.
In the meantime, most financial institutions in the US still do not support crypto for 401(k) investment plans for their services and the only firm that offers such a facility is Rest Super from Australia.
