Tax-sheltered retirement savings plans are designed to encourage saving through the long haul. The basic strategy that has been shown to work: Keep fees low; trade infrequently; diversify with quality stocks, bonds and cash; and maximize the employer match. The evidence is convincing that speculating and trading in volatile assets is hazardous to future wealth.
Of course, gambling can be fun. Someday, cryptocurrencies might even offer genuine economic value and utility. Go ahead and trade cryptocurrencies, memecoins, electronic trading cards and similar digital assets if you want.
Just not in your tax-sheltered retirement savings plan.
Chris Farrell is senior economics contributor for “Marketplace” and a commentator for Minnesota Public Radio.
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