The popularity of cryptocurrency investing could fuel charitable giving, says Fidelity Charitable, which found that 45% of cryptocurrency investors donated $1,000 or more to charity in 2020, compared to 33% of all investors.
Cryptocurrency’s popularity among millennials “makes it increasingly likely that this trend is here to stay,” Fidelity said in a release. It found that 35% of millennials own crypto, versus just 13% of investors overall, and almost half (48%) of millennials see themselves as knowledgeable about digital currency, compared to just 13% of all investors.
What’s more, nearly nine-in-ten millennials say charitable giving is an important part of their lives, compared to 74% of the total population.
But the full financial implications of investing in cryptocurrency are not yet widely understood — even among those who have invested, Fidelity said, noting that 38% of cryptocurrency investors in a survey it conducted over the summer were not aware that selling digital assets is a taxable event and that 55% were not sure that digital assets can be donated to charity.
IRAs now hold nearly twice the assets of 401(k) plans — and most of that money didn't arrive through annual contributions.
A new survey finds that many women prioritize financial security but continue to leave savings in accounts that may not keep pace with inflation.
Roundhill, Bitwise and GraniteShares funds remain on hold while the agency weighs how novel ETFs should be regulated.
"Shares of alternative assets managers have lagged this year as investors grow wary of private-credit exposure."
The fintech platform is touting a new AI-free Planning Observations feature, which draws on IRS tax records to uncover opportunities for advisors.
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
Direct indexing is on pace to outgrow ETFs and mutual funds. Northern Trust's Ken Lassner explains why the advisors who get it wish they had started sooner.
