Considering Saving Over $1 Million for Retirement? Buy 2 Cryptos Now and Hold for Decades

The newest Northwestern Mutual money and retirement poll shows that Americans need more to retire comfortably. It's now $1.46 million, up 15% from last year and 53% from 2020. That number is scary because the average retirement savings is $88,400.  

Having less than $100,000 saved for retirement could work if you can earn 10% annually for 25 years. But what if you have less time to catch up? What if you have much less than $88,400 for retirement? If so, consider investing in cryptocurrencies, which can double your money 10-fold in a short time.  

Bitcoin Bitcoin (CRYPTO: BTC) isn't for everyone, but it has the high-octane fuel to yield 10-fold gains. Bitcoin was the world's best-performing asset during 2011-2021. Bitcoin yielded 230% annually. Next closest was high-growth tech equities at 20%. That explains why Bitcoin is now worth $70,000, up from $1 in 2011.  

Wall Street is increasingly convinced that Bitcoin has much more potential. Prices are expected to range from $100,000 to over $3.8 million. Due to all the money streaming into Bitcoin ETFs, Ark Invest's Cathie Wood predicts Bitcoin will reach $1 million before 2030.  

So you get my point. If you buy one Bitcoin now for $70,000, you may have a $1 million retirement nest fund by the end of the decade. This is a dangerous practice that no responsible financial planner would recommend. After all, Bitcoin is volatile. Your retirement funds might evaporate overnight or the SEC could ban Bitcoin.  

However, the new spot Bitcoin ETFs may popularize Bitcoin retirement savings. Bitcoin is likely to be included in many 401(k) retirement plans, since Fidelity Investments has established some accounts. These investing options may limit your Bitcoin allocation, but you can utilize them to boost your retirement savings.  

Ethereum Ethereum (CRYPTO: ETH) should be the retirement crypto's second choice after Bitcoin. Ethereum has a track record of investment performance, like Bitcoin. Ethereum cost less than $10 in April 2016. Trading around $3,500. Make 350-fold on your investment in less than a decade.  

Ethereum is not complacent. A major technological transformation (The Merge) occurred in September 2022, and Ethereum continues to upgrade its blockchain architecture to make it faster, cheaper, and more scalable. It is preparing for the next significant wave of blockchain technology adoption, which may include large organizations switching to the blockchain.  

Ethereum is expected to become the second crypto ETF. It's becoming less probable that this will happen by May's end. If the SEC approves a spot Ethereum ETF, it will be easier to save for retirement with Ethereum without entering the crypto market.  

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