Retirement and cryptocurrency investing would seemingly mix like oil and water. Your golden years are when you reduce portfolio risk. Cryptocurrency is highly risky, with exhibit A being the the fact that many top coins are down over 50% in the last six months.

That said, there’s nothing wrong with retirees diversifying into digital assets, provided they keep a couple of guidelines in mind.

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For starters, you should only invest in cryptocurrency as a retiree if you can comfortably pay your monthly bills with Social Security, your retirement accounts, and any other sources of income you have. Since cryptocurrency can lose value quickly, it’s not a good idea to invest money you may need to pay your…