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The Editors

Crypto in Retirement Accounts? Are You Kidding?

People should be free to squander their money, but not in their 401(k)s.

Not a great retirement savings strategy.

Not a great retirement savings strategy.

Photographer: David Paul Morris/Bloomberg

Cryptocurrencies are the exact opposite of a prudent investment: They’re volatile, have little practical use beyond speculation and crime, often get lost or stolen, and lack the real-world cash flows that underpin the values of stocks and bonds.

It should thus go without saying that they have no place in a retirement savings plan. Unfortunately, it appears to require saying.