Almost fifty percent of Gen Z and Millennials share a wish for crypto to have a place in their 401(k) retirement plans, per insights from an October survey from United States asset manager Charles Schwab. 

Specifically, the survey reportedly inquired participants regarding what they would like to have included to their 401(k) retirement products, the company stated that 46% of Gen Z and 45% of Millennials said they “wish” they were able to make investments in cryptocurrencies as part of their retirement planning.

The news should not come across a surprise, since the survey further discovered that 43% of Gen Z and 47% of Millennials are making investments in cryptocurrencies beyond the scope of their 401(k) already, which could be a hint for the group’s affinity for the asset class. 

People who took part in the survey are required to have worked for a firm with 25 or more staff and be existing contributors to their company’s 401(k) plans. 

Millennial is a term used to talk about people born in the early 1980s to mid-1990s, with Gen Z generally born between the mid to late 1990s to the early 2010s. 

The results share a significant contradiction to the surveyed Gen X and Boomers – those born anywhere between the mid-1940s to late 1970s – with just 31% and 11% respectively sharing a wish to make investments in cryptocurrencies via their 401(k), and even less being current investors in the asset class. 

Throughout the board, inflation was viewed as the biggest issue to retirement. 

A similar study by Investopedia in April found only 28% of United States-based Millennials and 17% of Gen Z’s surveyed expected to use cryptocurrency to support themselves in retirement, however. 

The asset manager currently does not provide any cryptocurrency investments as part of its 401(k) retirement plans, though crypto-based retirement funds have been in the works since Feb 2019.