| Why employers may not be so quick to jump on the 401(k) bitcoin bandwagon | | |  | WED, APR 27, 2022 | | | | Cryptocurrency — it seems you either love it or hate it. Some investors believe it's a road to riches, with explosive price growth expected in the future. Others are more skeptical, fearful of the volatility the digital coins have experienced of late.
Now, bitcoin enthusiasts will soon be able to test their mettle as Fidelity, the giant asset and retirement plan manager, announced it will allow 401(k) saving plans it administers to hold bitcoin starting later this year. If your company's plan permits it, you could soon invest in bitcoin along with traditional stock and bond fund choices.
The big question, of course, is should you? Fortunately we have it covered to help you decide. You can start with this look at how to determine how much bitcoin you should have in your retirement accounts. Then, consider whether your employer will even offer the option. There are a lot of reasons why it may not, including its fiduciary responsibility to you, the employee.
Either way, it's clear crypto isn't going away. Many workers are asking their employers to get in on the action and we'll likely see more and more plans offer it in the future. Stick with CNBC to help you make sense of it all.
For more stories like this, be sure to visit CNBC's Financial Advisor Hub and CNBC + Acorns Invest in You: Ready. Set. Grow. | |
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