Former House Financial Services Committee Chairman Jeb Hensarling (R-TX) said on Breitbart News Saturday that a Trump administration proposal would allow Americans to invest in assets through their 401(k)s that were previously only available to the rich.
The Trump Department of Labor has moved forward with a proposal that would allow 401(k) retirement plans to more easily include alternative assets such as cryptocurrency, real estate, and private market assets.
Hensarling told Breitbart News Saturday host Matthew Boyle that the proposal would democratize 401(k)s to give Americans more options to invest in. Most retirement plans typically have limited broad-basket investment options such as target-date funds.
“There were a lot of reasons that America elected Donald Trump the second time but one of those reasons is that most Americans were tired of elitists telling them how to run their lives, be it Washington elites, Hollywood elites, or Ivy Leagues. And, part of that elitism
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