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Retirement in the Era of Bitcoin

In the more than decade since the first red flags began appearing to signal the looming housing market crash of the late 2000s, and the subsequent “Great Recession” which traveled worldwide, retirement has become more of a dream than a reality for millions of Americans. As IRAs were drained and 401K loans maxed out to keep the household afloat, many watched as their life savings dissipated before their very eyes. Although the US economy has clawed its way to stay out of the depths of hard recession, with interest rates and new jobs slowly increasing, the era of Bitcoin may hold new answers to the age-old questions of how to afford a comfortable retirement.

The early to mid-20th century gave rise to the reliable retirement pension, giving stability to a generation; the children of the bubble economy of the 80s and 90s turned instead to stock market returns and rising home prices to fund their golden years. As the new millennium ticks on, these old rules haven’t withstood the test of time. The new script is “save early, save a lot, and don’t stop” – but many of those Americans who are on the cusp of their projected retirement date find themselves without the full financial means to do so. Those who took a hit in the Great Recession may find that they don’t have the time to recoup years of savings at current market interest rates, and that is where Bitcoin can be of great assistance.

In less than a decade, blockchain technology (and the trust that the market has in the concept) has allowed Bitcoin to gain interest at rates far exceeding any traditional method of saving or investing. By investing a portion of their portfolio in Bitcoin, individuals can bolster their retirement funds at an exponential rate over a five to ten-year period as opposed to traditional investing alone. Utilizing Bitcoin technology is growing in recognition as a way to stave off the income pitfalls that can arise in the sunset of life, and individuals who take advantage now are apt to reap higher rewards in their future.

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