Tuesday, October 11, 2022

Crypto and Retirement Accounts- Can You?

Mark R. Parthemer (Chief Wealth Strategist and Head of Florida at Glenmede Trust Co.) recently authored Crypto and Retirement Accounts- Can You? in the ABA Probate & Property Magazine, September & October 2022. Provided below is an introduction to the paper:

A short decade ago, the cryptocurrency meteoroid launched and now is hurtling toward the trillions of dollars in retirement assets. Can clients embrace this digital asset and provide a soft landing in their retirement accounts?

“You can, you should, and if you’re brave enough, you will.” —Stephen King

Inspiring words from prolific author Mr. King, albeit encouraging writers. Clearly, he was not addressing investing in bitcoin, ethereum, or any cryptocurrency, but his framework may not be a bad starting point to analyze investing in cryptocurrency inside a retirement account.

The two major forms of managed retirement assets are IRAs and 401(k)s. So, let’s apply the “Can you?” filter to each of them. Although this article will explore some of the legal aspects of cryptocurrency in retirement accounts, it expresses no opinion as to the soundness or prudence of such investments. In other words, the “Should you?” question will go unanswered.


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