In this YouTube video, Sharon Epperson discusses the growing popularity of cryptocurrency in 401(k) plans. The iShares Trust has ballooned to over $50 billion, indicating a strong interest in adding crypto to retirement accounts. The Securities and Exchange Commission’s approval of spot Bitcoin in ETFs last year was a crucial development for the industry. While some financial advisers believe that adding cryptocurrency to a 401(k) plan can be a wise move as it is a non-traditional asset class and a hedge against fiat currency, others express concerns about volatility and risk. It is important to consider other strategies to boost retirement savings. Epperson suggests contributing the maximum amount allowed and taking advantage of catch-up contributions for those over 50. Brokerage windows, like Fidelity’s Brokerage Link, offer a wider array of investment options for 401(k) plans. For more tax tips and retirement savings strategies, viewers can sign up for Epperson’s newsletter at CNBC.com/Money101.
