Retirement is a well-deserved rest in old age and you definitely need to prepare for it. Possibilities how to prepare change over the generations, and it is no different for millennials. A survey conducted by Investopedia gives us insight into how this demographic group is preparing for retirement.
Retirement and cryptocurrencies
Preparations for a well-deserved retirement are varied. Some people are saving money on a savings account, others are investing or have insurance for retirement, for example. However, with the rise of cryptocurrencies, another option for preparation is available, namely trading or staking cryptocurrencies.
Investopedia conducted a survey that polled 1,000 people from Generations Z, Millennial, X and Boomer. The questions asked were in the areas of financial literacy, habits, retirement plans, and things that worry them.
It may surprise some to learn that 38% of millennials invest in cryptocurrencies and 25% rely on this type of funding for retirement. Of Gen X and Gen Z, 23% and 28% respectively invest in cryptocurrencies and 17% rely on cryptocurrencies to fund their retirement.
Retirement and information
Another interesting aspect is the search for information. Anyone who invests, whether in cryptocurrencies or elsewhere, knows that there is a lot of information to seek and a constant need to learn.
In the age of the internet, access to information is easy. However, you still need to be careful about how you select the right information. Among Generation Z, a full 39% of investors search for information on YouTube, followed by 30% on TikTok. The good news, however, is that there is still interest in financial literacy.
The opportunity to make money from cryptocurrencies isn’t just provided by trading. There are other tools to multiply your cryptocurrencies. One of these options is staking, where you lock up your coins and let them work for you. This way, you will be actively participating in the security and decentralization of the native network of coins you own. If you are interested in staking, you can try it out with our PlatonCoin (PLTC). More information can be found here.
To make retirement a well-deserved rest, you need to prepare for it properly. Whatever your preparation, be sure to stay properly informed and keep your savings options open. If you would like to start investing, do your own research and find out enough information first and only invest in assets you understand well enough.