401(k) Plan Participants Rank Crypto Dead Last as Preferred Retirement Savings Asset
Author: Siân Killingsworth / 11 Jan 2023
Ubiquity Retirement + Savings survey reveals crypto is seen as risky
SAN FRANCISCO — January 12, 2023 — Ubiquity Retirement + Savings® (Ubiquity) announces the results of its first independent “State of the Industry” survey, which polled 558 plan participants about their preferred retirement asset options for 2023.
The survey found that only 3.5% of respondents selected cryptocurrency as one of their preferred retirement savings asset classes, ranking last among the offerings for investors.
“With continued turmoil in the crypto space and huge amounts of volatility, I’m not surprised to see 401(k) plan participants shy away from crypto as an asset class for retirement savings. Retirement accounts are historically reserved for prudent and proven asset classes that are regulated and have demonstrable track records,”
said Chad Parks, Founder and CEO of Ubiquity, a financial technology pioneer in flat-fee small business retirement plans.
Data shows other asset options are far more attractive than crypto, including real-estate at 33.2% and even gold, with 7.3% of choosing it over crypto.
“We’ve never seen any demand for crypto from our plan participants or strategic partners. I think significantly more time and historical performance need to occur before we know if any crypto on the market today can offer long-term value, particularly as a retirement asset class. In the meantime, we offer our clients access to 30,000+ mutual funds, ETFs, self-directed brokerage accounts, fractional trading, and more. If any of our fiduciary advisor partners requested crypto as an asset class, we as a record keeper can accommodate their request.” concluded Parks.
Visit myubiquity.com to learn more about Ubiquity, see additional survey responses and understand how they’re helping plan participants and solo 401(k) users meet their retirement goals.
About Ubiquity Retirement + Savings
Since launching Ubiquity Retirement + Savings in 1999, the company’s driving force has been to provide qualified retirement plans that meet the needs of small business owners. Our mission is to empower small businesses and their employees to create a more secure financial future by leveraging technology with affordable retirement solutions and world-class customer support.
Ubiquity is a leading fintech company that is one of the first flat-fee-for-service small business plan providers in the nation. With our exclusive, best-in-class Paradigm RKS™ cloud-based platform that automates recordkeeping and plan management functions, we’re able to deliver an easy-to-use experience and peace of mind with zero hidden fees. The company is headquartered in San Francisco with satellite offices from coast to coast. Ubiquity serves over 10,000 American small businesses and hundreds of thousands of savers. With over $3 billion in retirement assets, Ubiquity has clients in all 50 states, delivering a transparent, flat-fee, customizable savings experience. Our tenured team are retirement experts and future-you champions!
Visit myubiquity.com to learn more.
Gregory FCA for Ubiquity Retirement + Savings
Sarah Horton, 610-246-2346