Can Bitcoin Help You Retire Early?
Until this year, Bitcoin (CRYPTO: BTC) had primarily been perceived as a means for financial speculation and not as part of a responsible retirement strategy. But things are starting to change faster than you might think. In April, Fidelity Investments began rolling out Bitcoin investment options for employer 401(k) plans. And Congress could be getting ready to vote on a potentially groundbreaking piece of legislation called the Retirement Savings Modernization Act that could help to make cryptocurrency a serious retirement option.
So can Bitcoin help you retire early? That depends on many factors, of course, such as how much you need to save, how much risk you are willing to take, and the amount of time you have until retirement.
One reason why Bitcoin is so attractive as a retirement option is that, quite simply, there is no single asset class that has performed as well as Bitcoin over the past decade. If you had invested $1,000 in Bitcoin in 2013, you'd have over $140,000 today. Even if you had invested a similar amount in high-risk tech stocks, there's no way you could have matched Bitcoin's historical returns. So you can see why many people now believe that Bitcoin can turbocharge their retirement earnings.
Source Fool.com
