A majority of American voters want more choices regarding how they save for retirement. These voters also want access to the same investment options ordinarily available only to wealthy or institutional investors. This sentiment is particularly strong among President Trump’s coalition — with an overwhelming majority supporting democratizing retirement investment options.
These findings stem from a survey by Fabrizio Ward for the Pinpoint Policy Institute. The poll reveals substantial public support for expanding investment options in 401(k) retirement plans, including access to private equity and cryptocurrencies. The findings highlight frustration and a sense of unfairness with a system that many think favors wealthy investors and institutional players while limiting opportunities for everyday Americans.
As policymakers consider reforms to modernize retirement savings, the data point to a clear political and policy opportunity to empower Americans with more significant financial choice.
Voters across party lines support allowing private equity investments in 401(k) plans. The survey found that 57 percent favor expanding these options, compared to 13 percent who oppose the idea. Among Trump voters, support jumps to 71 percent, while 63 percent of 401(k) account holders back these reforms.
The broad appeal of expanding investment access is rooted in the belief that current restrictions are unjust. Nearly two-thirds of respondents (64 percent) view it as unfair that private equity opportunities are generally reserved for wealthy individuals and large institutions.
The survey results reflect a widespread appetite for greater autonomy in retirement planning. When asked whether private equity funds should be made available to ordinary investors, 77 percent of Trump voters agreed. Likewise, 74 percent of Trump supporters found it compelling that these reforms would help democratize investment opportunities traditionally reserved for the wealthiest Americans.
The survey highlights how voter education on these issues motivates support for reform. Initially, 57 percent backed expanding 401(k) access to private equity. However, after learning more about the benefits — including greater diversification and access to high-performing funds — support climbed to 66 percent. Among Trump voters, support for the reforms surged from 71 percent to 87 percent. The fact that support grows as voters become more informed underscores the importance of better public engagement on financial policies that could significantly affect Americans’ ability to build wealth.
Notably, support for expanding access to private markets in retirement plans was particularly strong among respondents already invested in 401(k) plans. Among this group, 71 percent say they want more investment choices rather than being restricted to the status quo. This sentiment signals a strong demand for reform among those most affected by retirement investment rules.
The survey also gauged attitudes toward cryptocurrency as a potential 401(k) investment option. While support was more divided (41 percent in favor, 35 percent opposed), enthusiasm was markedly higher among Trump voters, with 63 percent backing the idea and 17 percent opposing it. This suggests that segments of the electorate, particularly within the conservative base, are open to broader investment opportunities beyond traditional financial products.
The findings present a mandate for policymakers to pursue reforms that encourage more diverse investment offerings in retirement accounts. As Trump begins his second term, aligning with voter sentiment on financial freedom could further strengthen his administration. Expanding investment choices in 401(k) plans offer a rare policy opportunity that combines economic empowerment with broad public support.
Empowering workers with more significant financial choices is a political winner and a necessary step toward strengthening long-term retirement security. In an era where pension plans are declining and individuals bear greater responsibility for their financial futures, ensuring access to high-performing investment options should be a priority. Policymakers now have an opportunity to act on this, leveling the playing field for ordinary savers and enabling millions of Americans to achieve financial stability in retirement.
