{"id":1446350,"date":"2022-04-19T15:15:09","date_gmt":"2022-04-19T19:15:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1446350"},"modified":"2022-04-19T15:15:21","modified_gmt":"2022-04-19T19:15:21","slug":"gen-z-millennials-are-counting-on-crypto-for-their-retirements","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gen-z-millennials-are-counting-on-crypto-for-their-retirements\/","title":{"rendered":"Gen Z, Millennials Are COUNTING ON Crypto For Their Retirements"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgen-z-millennials-are-counting-on-crypto-for-their-retirements%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1446350&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/dw-wp-production.imgix.net\/2022\/02\/GettyImages-1238185255.jpg?w=1200&#038;h=800&#038;ixlib=react-9.3.0\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p><span>Millennials and members of Generation Z are relying heavily upon cryptocurrencies for their retirement savings, according to a poll released earlier this month.<\/span><\/p>\n<p><span>The 2022 <\/span><a href=\"https:\/\/www.investopedia.com\/financial-literacy-survey-5223919\"><span>Investopedia Financial Literacy Survey<\/span><\/a><span> asked over 4,000 American adults in the Gen Z, Millennial, Generation X, and Baby Boomer generations about their saving, investing, and taxpaying habits. Among other findings, the investment dictionary revealed that 28% of Millennials \u2014 those between the ages of 26 and 41 \u2014 expect to use cryptocurrencies to support themselves in their latter years. Nearly 20% of Gen Z \u2014 those between 18 and 25 years old \u2014 said the same.<\/span><\/p>\n<p><span>Gen Z, Millennials, and Gen X also foresee their cryptocurrency assets yielding stronger returns than their holdings in stocks, real estate, or mutual funds.<\/span><\/p>\n<p><span>\u201cFor younger investors, cryptocurrency is clearly not just a fun asset to trade in order to make fast money,\u201d Investopedia editor-in-chief Caleb Silver explained. \u201cThey are depending on generating returns from cryptocurrency to build wealth and fund their retirement, which is concerning given the lack of education around investing in crypto, and the fact it is still not regulated by the industry.\u201d<\/span><\/p>\n<p><span>Indeed, just over one quarter of American adults reported that they have \u201cadvanced\u201d knowledge of cryptocurrency \u2014 a form of <\/span><a href=\"https:\/\/www.dailywire.com\/news\/what-exactly-is-bitcoin-heres-how-the-worlds-largest-cryptocurrency-actually-works\"><span>decentralized<\/span><\/a><span> digital money that can be transferred between users\u2019 virtual wallets \u2014 while 49% have \u201cbeginner\u201d knowledge.<\/span><\/p>\n<p><span>Meanwhile, only 49% of Americans have \u201cadvanced\u201d knowledge of paying taxes. 47% have \u201cadvanced\u201d knowledge of saving, 45% of borrowing and managing debt, and 36% of investing.<\/span><\/p>\n<p><span>Young Americans also expect to stop working at younger ages than their parents and grandparents. The median age at which Gen Z expects to stop working is 57; for Millennials, Gen X, and Boomers, expected ages are 61, 64, and 68, respectively.<\/span><\/p>\n<p><span>\u201cOur relationship to money, investing and financial planning has radically changed in the past few years, as new asset classes like crypto and NFTs have emerged just as millions of people are taking their first steps into investing,\u201d Silver added. \u201cWhat hasn\u2019t changed is the need for relevant financial education \u2014 but in a modernized curriculum that addresses these new financial products and services, designed to serve the people who are dependent on them to build their wealth.\u201d<\/span><\/p>\n<p><span>Data from credit bureau Experian released in 2019 <\/span><a href=\"https:\/\/www.cnbc.com\/select\/average-american-debt-by-age\/\"><span>show<\/span><\/a><span> that the average American household finds itself in $90,460 in debt \u2014 from mortgages and student debt to credit cards and personal loans. Members of Gen Z owe an average of $9,593; Millennials, Gen X, and Boomers respectively owe $78,396, $135,841, and $96,984.<\/span><\/p>\n<p><span>Research from the Federal Reserve Bank of Minneapolis <\/span><a href=\"https:\/\/www.minneapolisfed.org\/economic-research\/conferences\/~\/media\/files\/research\/events\/2014_05-22\/Brown_Financial_Education.pdf\"><span>indicates<\/span><\/a><span> that \u201cfinancial literacy reduces exposure to housing and consumption debt\u201d and \u201creduces the prevalence of bankruptcy,\u201d while leading to \u201ca lower likelihood of having any outstanding debt.\u201d<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies for breaking news, investigative reporting, sports, podcasts, in-depth analysis, books, and entertainment for a reason: because we believe in what we do. We believe in our country, in the value of truth and the freedom to speak it, and in the right to challenge tyranny wherever we see it. Believe the same?<\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span> Become a member now and join our mission.<\/span><\/i><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Millennials and members of Generation Z are relying heavily upon cryptocurrencies for their retirement savings, according to a poll released earlier this month.The 2022 Investopedia Financial Literacy Survey asked over<\/p>\n","protected":false},"author":99,"featured_media":1446383,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1446350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1446350","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1446350"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1446350\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1446383"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1446350"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1446350"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1446350"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}