The Unfortunate Truth About Maxing Out Your 401(k)
Maxing out your 401(k) is an impressive retirement achievement. In 2023, that means putting $22,500 ($30,000 if you're over 50) toward your future, which could easily grow into hundreds of thousands after it's been invested wisely for a few decades. But that doesn't necessarily mean you should do it.
While 401(k)s have a lot of benefits, they have their drawbacks too. If any of the four things listed below are a major problem for you, you might want to seek other retirement accounts to hold your cash.
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Source Fool.com
