A new executive order could radically reshape retirement investing by allowing private equity, crypto, and gold in 401(k) plans. This episode examines the factors driving the demand for alternative assets in defined-contribution plans, the potential risks to everyday investors, and why fiduciary rules and financial literacy gaps still matter.Insiders Guide Email NewsletterGet our&nbsp;<a href="https://moneyfortherestofus.com/insiders-guide/" rel="noopener noreferrer" target="_blank">free Investors' Checklist when you sign up for the free Money for the Rest of Us email newsletter</a>Our Premium Products<a href="https://assetcamp.com/" rel="noopener noreferrer" target="_blank">Asset Camp</a><a href="https://moneyfortherestofus.com/hub/" rel="noopener noreferrer" target="_blank">Money for the Rest of Us Plus</a>Show Notes<a href="https://www.wsj.com/finance/investing/trump-executive-order-to-help-open-up-401-k-s-to-private-markets-c90c6788" rel="noopener noreferrer" target="_blank">Trump Executive Order to Help Open Up 401(k)s to Private Markets by Miriam Gottfried,&nbsp;Dylan Tokar, and&nbsp;Matt Wirz—The Wall Street Journal</a><a href="https://www.ft.com/content/07906211-5ab8-4917-bcad-5397c0bc3170" rel="noopener noreferrer" target="_blank">Donald Trump set to open US retirement market to crypto investments by Antoine Gara, Jamie John, and&nbsp;Stephanie Stacey—The Financial Times</a><a href="https://www.wsj.com/articles/u-s-labor-department-allows-private-equity-in-401-k-plans-11591229396" rel="noopener noreferrer" target="_blank">U.S. Labor Department Allows Private Equity in 401(k) Plans by Chris Cumming—The Wall Street Journal</a><a href="https://www.dol.gov/agencies/ebsa/about-ebsa/our-activities/resource-center/information-letters/06-03-2020-supplemental-statement" rel="noopener noreferrer" target="_blank">U.S. Department of Labor Supplement Statement on Private Equity in Defined Contribution Plan Designated Investment Alternatives—U.S. Department of Labor</a><a href="https://www.psca.org/news/psca-news/2025/4/state-street-new-tdf-includes-private-assets/" rel="noopener noreferrer" target="_blank">State Street New TDF Includes Private Assets by PSCA Net Staff—PSCA</a><a href="https://www.blackrock.com/us/individual/literature/whitepaper/power-of-private-markets-dc-plans.pdf" rel="noopener noreferrer" target="_blank">The Power of Private Markets by Robert Crothers et al.—BlackRock</a><a href="https://cdn.ca9.uscourts.gov/datastore/opinions/2025/05/22/22-16268.pdf" rel="noopener noreferrer" target="_blank">UNITED STATES COURT OF APPEALS FOR THE NINTH CIRCUIT OPINION No. 22-16268</a><a href="https://www.theirrelevantinvestor.com/p/the-relentless-ask-bfae" rel="noopener noreferrer" target="_blank">The Relentless Ask: Private Markets Are Eating the World by Michael Batnick—The Irrelevant Investor</a><a href="https://www.wsj.com/finance/investing/stock-market-craziness-alternative-funds-7df17b9c" rel="noopener noreferrer" target="_blank">Don’t Buy Into This Easy Fix for Stock-Market Craziness by Jason Zweig—The Wall Street Journal</a><a href="https://www.bloomberg.com/news/articles/2025-07-22/private-equity-s-vast-middle-suffers-in-search-for-fresh-funds" rel="noopener noreferrer" target="_blank">The Private Equity Boom Is Leaving Midsize Players Behind by Preeti Singh and Laura Benitez—Bloomberg</a><a href="https://www.gao.gov/products/gao-21-357" rel="noopener noreferrer" target="_blank">401(k) Retirement Plans: Many Participants Do Not Understand Fee Information, but DOL Could Take Additional Steps to Help Them—U.S. Government Accountability Office</a><a href="https://publications.lawschool.cornell.edu/lawreview/wp-content/uploads/sites/2/2020/03/Fisch-et-al.-final.pdf" rel="noopener noreferrer" target="_blank">DEFINED CONTRIBUTION PLANS AND THE CHALLENGE OF FINANCIAL ILLITERACY by Jill E. Fisch, Annamaria Lusardi, and Andrea Hasler—Cornell</a><a href="https://paulkedrosky.com/on-endowments-and-unintended-consequences/" rel="noopener noreferrer" target="_blank">On Endowments and Unintended Consequences by Paul Kedrosky—Paul Kedrosky</a>Related Episodes<a href="https://moneyfortherestofus.com/509-how-to-invest-in-private-credit-direct-lending/" rel="noopener noreferrer" target="_blank">509:&nbsp;How to Invest in Private Credit / Direct Lending?</a><a href="https://moneyfortherestofus.com/497-how-to-fix-the-retirement-savings-crisis/" rel="noopener noreferrer" target="_blank">497: How to Fix the Retirement Savings Crisis</a><a href="https://moneyfortherestofus.com/490-private-equity/" rel="noopener noreferrer" target="_blank">490: Should You Invest in Private Equity?</a>See Privacy Policy at <a href="https://art19.com/privacy" rel="noopener noreferrer" target="_blank">https://art19.com/privacy</a> and California Privacy Notice at <a href="https://art19.com/privacy#do-not-sell-my-info" rel="noopener noreferrer" target="_blank">https://art19.com/privacy#do-not-sell-my-info</a>.

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