Are Millennials in Limbo for Retirement?
Millennials that are based in the United States are in the age when we are not sure if we are able to reap the benefits of social security like our parents. However, one should not solely rely on such a service. Social Security is based on an average of what your life time earnings are. Many factors take into play, you can find out what they would be but if you are not close to retirement dont play the guessing game! Here is a link to calculate what you would earn https://www.ssa.gov/pubs/EN-05-10070.pdf. This does not have to affect only millennials. This could be Generation X and Z individuals.
We live in the digital age and should be embracing it! Yes fiat (government money) is essential to live day to day life right now but when you need to plan for is the future. In fact, there are some people around the world that are actually bankless. Meaning that they dont rely on government money to service they have most of their assets in Gold or Digital Currencies.
What Actions Can Millennials take?
In order to prepare for the future possibility of retirement millennials are going to need to take action! What action am I speaking of? Well a diversified portfolio is the perfect way to do this! When thinking about a diversified portfolio many individuals really on different types of company stocks (oil, technology, pharmaceuticals, etc.) as well as Realestate for diversification. (speculation) Why not diversify more to lower your overall risk by incorporating some digital currencies?
If you are think about it you are already taking the next step in your diversification portfolio and you might not even realize it! You are here on Steemit just like myself and many others! Steem and many other crypto currencies are that next action you need to take to have a diversified portfolio!
Right now might be interesting to add digital currencies into your portfolio because of the massive down trend. However, over the last 3 months we have seen a lot of integrations for ICO's which caused more of a bubble effect for bitcoin and ethereum. Many individuals bought into these newer ICO's in order to get in early and sell them quickly in the beginning when there was a large pump and dump.
We have been seeing a massive downtrend for bitcoin because of the whole block size controversy and many people are either cashing out their bitcoin or going to other altcoins. Even vise verse, people selling altcoins to bitcoin in order to get out of the digital currency game before August 1!
What is your plan of action? Would you please comment below your thought of my post?
Thank you for taking the time to read this post. Please note that I am not a financial advisor and shis post is all speculation.
Have a great day!
Cheers,
Albert