Are there any restrictions on using a New York Life Simple IRA to invest in digital currencies like Bitcoin?

1 answers

• Mar 19, 2022 · 3 years ago
  While New York Life Simple IRA accounts offer a range of investment options, investing in digital currencies like Bitcoin may not be one of them. Traditional IRAs typically limit investment options to more traditional assets such as stocks, bonds, and mutual funds. However, there are alternative retirement account options, such as self-directed IRAs, that may allow for investment in digital currencies. It's important to review the specific terms and conditions of your New York Life Simple IRA and consult with a financial advisor to determine if investing in Bitcoin is a viable option for your retirement savings.
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