It’s Time To Unleash 401(k)s – OpEd

The 401(k) is one of the most consequential financial inventions of the last half-century. Accounting for $9.3 trillion in assets, 401(k)s direct the investment and retirement decisions of 70 million Americans. But they’re not as high-yielding as most plan owners might think.

When workers set one up through brokerages like Fidelity or Voya, they learn that their “choices” are limited to mutual funds, target-date funds, and perhaps a bond fund. No private investments, crypto, or leverage...