As the world shifts and changes, so does the investment market and how you plan for retirement. Lockheed Martin is made up of hundreds of thousands of employees ranging from just starting their career and receiving their first “real” income to those who are on their way out to enjoy retirement. One thing that all Lockheed Martin employees have in common is the ability to save and invest for their future retirement through the company 401(k) and personal IRAs. But how Lockheed Martin employees invest for their future can vary widely and many are entering or have already entered the world of crypto assets. What role should crypto investing have in your retirement savings? Keep reading to find out more.
Investing in crypto assets, whether that’s cryptocurrency or NFTs, is not necessarily a bad thing. As a matter of fact, a person can make a lot of money in that space. The question is if that space should be part of the assets you use when saving for retirement. Well, the answer depends on each person’s individual situation, but here are some extremely important things to consider when trying to answer that question for yourself.
- Long-term investing should always be prioritized over short-term investing.
- Taking advantage of your 401(k) and company match, as well as personal IRAs, should come first.
- Well-established investments should be utilized for the majority of retirement dollars.
- How much risk are you willing to take?
- Do you have extra funds to invest which you can consider “fun money”?
This doesn’t mean that crypto can’t be part of your retirement plan, but it certainly should not be the majority. Crypto investing is a space that is extremely volatile and unregulated. There are many nuances you must know and fully understand in order to not only trade but also protect your dollars once you have them invested. For example, crypto that is stored in a “hot wallet,” meaning always kept accessible online, has a high probability of being hacked and stolen. Once your funds are gone, they’re gone; and there is no FDIC or SIPC insurance to protect against losses. In addition, you need to know how your crypto will affect your taxes because crypto assets are not treated the same as your traditional investments.
So, if you are going to invest in a crypto asset, you need to be cautious. Think of anything you invest in crypto to be your “play money,” money you can do without and are okay losing. If you use crypto in your retirement portfolio, then consider only having a small percentage due to the risk and uncertainty involved.
It’s easy for us humans to get caught up in the excitement and potential of significant growth, but it’s also important that we remain well grounded. Having an overall retirement investment portfolio that is invested according to your specific needs and risk tolerance and one that is well-allocated and diversified is of the utmost importance. Call us today to speak with a Lockheed Martin specialist who can speak with you more about your retirement plan. Click here or call 817-210-3444 to schedule a complimentary consultation today.
For more tips like these, click here to sign up for our weekly email blog newsletter. If you would like to get better educated on Lockheed retirement strategies, click here to download our Free Report titled Retire with Confidence: The Top 4 Things You Can Do Now to Maximize your Lockheed Retirement. And, if you want to have face time with a Lockheed Retirement Specialist², you can click here to schedule an appointment, click here to sign up for our Lockheed Retirement Workshop or click here to just give us a call at (817) 210-3444.
Be sure and check back next week for more incredibly valuable information. Cheers!
Financial Planning and Investment Advisory offered by SWMG, LLC a Registered Investment Advisor.
This blog is being provided and sponsored by Strittmatter Wealth Management Group, LLC. Lockheed Martin and its subsidiaries do not endorse, recommend, or make representations with respect to any information, advice, services, or products discussed in this blog.
Lockheed Martin Retirement Specialist is not an official title or professional designation nor is it conferred by Lockheed Martin on any individual or company.
Our Complementary consultation and free report are for informational purposes only and provided free without any obligation to utilize or retain our investment advisory services.
SMWG, LLC is not affiliated with or endorsed by Lockheed Martin Corporation. Our expertise comes from working with LMT employees for several years and helping them to retire with confidence.
Investing involves the risk of loss, including loss of principal. Past performance does not guarantee future results. Investment products are not FDIC insured, have no bank guarantee, and may gain or lose value. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will be profitable for a client’s investment portfolio.