We probably shouldn't encourage the general public to gamble their retirement funds in a casino. I understand many believe this is an "asset class", but there is ample evidence crypto has no place in someone's retirement asset mix. Such investment in a taxable account is reasonable compromise.
No? Should we prohibit them from investing in mutual funds since bonds are so much safer? Or maybe mutual funds are OK but individual stocks should be illegal? Or maybe just certain, whitelisted stocks above a certain market cap that the 'professionals' decide are too big to fail?
Or maybe we should let individuals decide the correct mix of yield and risk that suits their age and risk tolerance?
Not mainstream but not a secret either.
It just refuses to give you a tax break when you do it.
I have a single member LLC and a simplified employee pension plan (SEP), but don't understand how one gets crypto into a SEP without buying something like Grayscale (GBTC) through the open stock market.
Bingo! Wall St wants a monopoly on ALL your retirement funds. Your typical employer 401k plan offers only mutual funds run by Wall St. No investing in alternate assets such as real estate or crypto. The big boys get their cut AND make sure you are not crowding the field in lucrative investments.
The entire point of our IRA/401k laws is to give people incentives to save money for retirement in the hopes that they will have a nest egg of stable assets that will allow them to leave their jobs, making room for the next generation and reducing the burden on families and social services.
The whole system was created because penniless old people are a corrosive social problem. These reforms just illustrate how much we've lost the plot on the original idea.
