Americans Want Retirement Security, But Don’t Trust Bitcoin to Deliver It

Most Americans do not want cryptocurrency near their retirement money, a new National Institute on Retirement Security (NIRS) survey shows. The poll finds 77% call crypto in retirement plans risky, and 46% say it is very risky.

Eighty percent now say the US faces a retirement crisis, up from 67% in 2020. Meanwhile, 61% fear they will not be financially secure after they stop working.

Retirement Anxiety Keeps Climbing

Greenwald Research ran the survey of 1,203 US adults for the Washington-based nonprofit late last year. The results read like a warning.

Inflation worries 73% of savers. Market swings trouble 62%. And 76% fear Social Security cuts if Congress fails to act.

The savings numbers explain the fear. Nearly half of Americans have less than $100,000 put away. Another 18% have nothing at all.

Even $100,000 buys less than most people think. Only 9% knew it produces roughly $4,000 in first-year retirement income under a standard withdrawal rule.

"Americans are telling us that retirement security is becoming harder to achieve as they struggle with the affordability of everyday life. Housing, healthcare, debt and other expenses are competing with the need to save for retirement," Dan Doonan, NIRS executive director, said in the report.

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