A new Trump executive order would potentially open the door for millions of employees saving for retirement — including on Long Island — to invest their funds in alternative plans, a move that local experts said could benefit younger and wealthier investors but pose risks for those nearing retirement.

In an executive order issued Thursday, President Donald Trump said he wanted to democratize access for Americans by allowing 401(k)s to invest in alternative assets, such as private equity, real estate and cryptocurrencies. The White House said the expansion will allow more Americans to take advantage of further investment opportunities through their employer’s retirement plans.

Experts acknowledge that the move will open a wider range of options for Americans curating their retirem

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