Posted on 01/22/2022 6:18:00 AM PST by DoodleBob
According to a recent survey by Capitalize, an IRA rollover service, 56% of Gen Z adults (18+) and 54% of millennials say they are including cryptocurrency or NFTs as part of their retirement strategy. That’s compared to only 20% of Gen X and 14% of baby boomer survey respondents who said they are investing in crypto to help them save for retirement.
(How reliable is this survey data? Capitalize noted that respondents were gathered through the Amazon Mechanical Turk survey platform, and that their answers were "self-reported and are subject to issues, such as exaggeration, recency bias, and telescoping." For the sake of comparison, a Pipslay survey from May 2021 reported that 49% of millennials and only 13% of Gen Z own cryptocurrencies.)
Beyond retirement strategies, younger people are more likely to be comfortable betting on cryptocurrency in general. In a 2021 study by the personal loan company Stilt, more than 94% of people who own crypto were millennials or members of Gen Z. Moreover, 59% of Gen Z and 46% of millennials believe they can become millionaires by investing in cryptocurrencies, according to a survey by the research company Engine Insights.
Younger people also have a lot more time to wait before they're going to retire. As a result, they presumably can take on more risk with their investment strategies. This may be another reason why crypto is more popular among younger investors' retirement saving plans.
(Excerpt) Read more at money.com ...
“The value of crypto is that its not Federal Reserve notes which lose value over time”
if the dollar is such a worthless currency, then why is all crypto quoted and traded in terms of dollar valuation?
It’s never been easy to save enough to buy a home, but it’s gotten easier with a lot of newer programs/options that can get you in one for little to nothing down anymore. As you mentioned, location can play a big part in that too. You may even have to rent a room out to family or friends, if you’re not married. I still believe it’s one of the best investments you can make, because as stated above, where you live is very likely going to be the biggest expenditure of your entire life, so if you can recoup some of that, including to the point of not having to pay for it practically at all eventually, not much else can compare. Thanks.
https://themortgagereports.com/11306/buy-a-home-with-a-low-downpayment-or-no-downpayment-at-all
“but it’s gotten easier”
not if there are not houses for sale ... a recent report in a local newspaper indicated less than 2,000 dwellings are for sale on the front range of colorado extending from castle rock to fort collins, and 1,000 dwellings just burned to the ground in the Marshall fire a few days ago with practically zero hope of rebuilding any time soon due to a paucity of supply of building materials and labor ... the housing market in colorado is frozen because if you sell there’s nothing to buy as a replacement ... all thanks to Covid Joe ...
For sure, I qualified that by admitting location can play a big part of it. I have a lot of family in Colorado and am well aware of the housing shortages there, it’s been an issue my whole lifetime. You mentioned Fort Collins and my brother used to live just a few miles away from there in Greeley.
It’s hard to get homebuilding resources there, and the building season is short, for starters. People have had to invest a lot into the homes that exist due to the harsh conditions. Then there’s lots of out of state money coming in to invest, or retire, which push prices up even further.
The way to go in a situation like that is to just start small. Get a condo, and maybe not in the trendiest part of town. That’s what my brother did, when he moved to Greeley. It was just part of the price for living generally where he wanted, while still building his future. Thanks.
Its not worthless, it is worth less ~ 10% this year.
It is the legal currency, by law all debts are settled in the currency.
If they changed the law so that contracts or debts could be paid in Gold or Crypto then the dollar would be used much less.
Which is why you will never see that happen.
“If they changed the law so that contracts or debts could be paid in Gold or Crypto then the dollar would be used much less.”
so then, i could walk into any grocery store, hardware store, carwash, or laundromat in the nation and pay in gold or one of a thousand different cryptotrash thingies?
Excellent musical taste, Sir!!
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