What are the advantages of including cryptocurrencies in a great west 401k plan?

3 answers

• Dec 06, 2021 · 3 years ago
  Including cryptocurrencies in a 401k plan offered by Great West can provide investors with diversification and potential higher returns. Cryptocurrencies have shown significant growth in recent years, and by including them in a retirement plan, investors can take advantage of this emerging asset class. Additionally, cryptocurrencies offer the potential for decentralized finance and can act as a hedge against traditional financial markets. This can help protect investors' portfolios during times of economic uncertainty.
  524262
• Dec 06, 2021 · 3 years ago
  Investing in cryptocurrencies through a 401k plan can also offer tax advantages. Contributions made to a 401k plan are typically tax-deductible, and any gains made from investments within the plan are tax-deferred until withdrawal. This means that investors can potentially grow their cryptocurrency investments without having to pay taxes on the gains until they retire and start withdrawing from the plan. It's important to consult with a financial advisor to understand the specific tax implications and rules surrounding cryptocurrency investments within a 401k plan.
  571191
• Dec 06, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, believes that including cryptocurrencies in a 401k plan can provide investors with access to a new and exciting investment opportunity. Cryptocurrencies have the potential for high volatility and returns, and by including them in a retirement plan, investors can benefit from this growth. However, it's important to note that investing in cryptocurrencies also carries risks, and investors should carefully consider their risk tolerance and investment goals before including cryptocurrencies in their 401k plan. It's always recommended to seek professional financial advice when making investment decisions.
  649163