Can You Retire a Millionaire Using Only a 401(k)?
Your 401(k) can be one of the most powerful tools at your disposal when it comes to building your retirement nest egg. Indeed, it is quite possible to reach a $1 million account balance or more just based on the money inside your 401(k) or similar employer sponsored plan.
That said, while you can reach a $1 million nest egg using only your 401(k), you are a lot more likely to do so if you have savings and investments outside of your 401(k) as well. This is because life happens and people have priorities other than retirement. If your 401(k) balance is your only source of cash for those other needs, it gets very tempting to tap it early, thus leaving you short on your $1 million goal.
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Source Fool.com
