3 Drawbacks of Using Only a 401(k) for Retirement

Contributing to your 401(k) is one of the easiest ways to save for retirement. Many employers automatically enroll new workers in their 401(k) plans, and investing is as simple as diverting a portion of each paycheck to your retirement fund.

However, the 401(k) isn't perfect, and it does have its disadvantages. If you're relying only on that to save for retirement, it could be costing you without you even realizing it.

While every type of account will have its drawbacks, there are a few downsides to the 401(k) that are particularly costly.

Continue reading

Source Fool.com