Crypto in your 401(k)? Certainly not!’ say retirement savers

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Cryptocurrency ranks as the least preferred retirement savings option among 401(k) plan participants, according to a survey from digital 401(k) plan provider Ubiquity Retirement + Savings released Thursday.

Only 3.5% of the 558 plan participants included crypto among their top three retirement savings options, with more (7.3%) in favor of gold.

The vast majority of participants (84.3%) preferred 401(k) plans as a way to save for retirement, followed by stock and bond investments (40.8%), savings accounts (36 .8%), real estate (33.2%) and current accounts. (15.7%).

“With the ongoing turmoil in the crypto space and huge amounts of volatility, I am not surprised to see 401(k) plan participants turning away from crypto as an asset class for savings. -retirement,” Chad Parks, founder and CEO of Ubiquity, said in a press release.

The survey also found that 61.9% of plan sponsors and 57.4% of financial advisors are concerned about the impact a recession could have on 401(k) plan performance in 2023. regarding inflation and low investment returns are also important for both groups.

The survey interviewed 1,100 plan participants, plan sponsors, financial advisors and individual entrepreneurs in the fourth quarter of 2022. Of the 1,100 respondents, 558 were plan participants.

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