The percentage was marginally over those who same they might rather use savings and stocks to fulfill the same ends.
According to a recent survey printed by Investopedia, 28% of the U.S. millennials polled said they expect to use cryptocurrency to support themselves in retirement — a figure that was beyond people who aforesaid they'd use savings (25%) and stock investments (27%) to fund their retirement. Meanwhile, two hundredth of gen x and 17 November of gen Z respondents said the same. The survey, conducted within the spirit of financial literacy Month, was administered to 4,000 U.S. adults ages 18 to 76.
In other fields, approximately 50% of respondents of all ages rated their money information in consumption, paying taxes, savings, debt management and insurance management as "advanced." However, only 27% of these surveyed aforesaid that they understood a lot concerning cryptocurrencies, very cheap score among the eight ideas listed within the form.
Nevertheless, a significant portion of millennials (41%) said they had advanced information of digital assets, followed by gen X and gen Z, at 30% and 29%, severally, and at last, baby boomers at 8%.
According to the report, the younger the participants, the lower their expected median retirement age. whereas most unretired baby boomers plan to pack up at 68, most information Z surveyed would like to retire at 57. To combat money illiteracy within the country, the U.S. Department of the Treasury has recently launched a replacement initiative to boost awareness of the risks concerned in investment in digital assets.
This includes designing educational materials to tell the general public however crypto assets operate and disagree from ancient investments like stocks. As told by Treasury officers, the most spearhead is to "raise awareness while not trying to end new technology and new innovation."
( Zhiyuan Sun, Cointelegraph, 2022 )