President Trump signed an executive order allowing the Department of Labor to offer expanded assets in 401Ks including cryptocurrency, real estate, and private market investments.
Economist, Dan Varoney, says this is good news. “Right now, everyday investors are locked out of where a lot of the growth happens, and retirement portfolios aren’t evolving right now. If they don’t evolve, they’ll fall behind the economy they are supposed to track and grow with.” Varoney said.
He says this not only allows investors to grow long term but gives them the resources they will need for retirement.
Texans are in a good spot. “Texas is tied heavily to energy, logistics, infrastructure, investment and private capital. There’s a lot of economic growth around you. If you’re on the receiving end it gives you greater investment capital for new opportunities” he said.
Varoney says most importantly- investors need to be sure they have transparency and a clear understanding of the risks involved.