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A recent survey published by Investopedia reveals that 28% of the U.S. millennials polled said they plan to use cryptocurrency to support themselves once they retire.
This number was higher than those who responded to be using savings (25%) and stock investments (27%) to fund their retired life.
The same survey, held under 4,000 U.S. adults aged 18 to 76 as part of Financial Literacy Month, shows that 20% of Gen X and 17% of Gen Z respondents said also to be expecting crypto to help in their retirement.
On other areas, roughly 50% of respondents of all ages considered their financial knowledge in consumption, paying taxes, savings, debt management and insurance management as “advanced.” Nevertheless, just 27% of those surveyed said that they understood “a lot” about cryptocurrencies, with the crypto category thereby scoring the lowest among all eight listed in the questionnaire.
It doesn’t look that hopeless as the above 27% shows. Still a significant group of millennials (41%) confirmed to have advanced knowledge of digital assets, followed by Gen X and Gen Z, at 30% and 29%, respectively, and lastly, baby boomers at 8%.