I Used to Think a 401(k) Was the Ultimate Retirement Account, Until I Learned These 10 Drawbacks

The article discusses the common perception of 401(k) plans as the premier retirement savings option, emphasizing that, while beneficial, they come with drawbacks. It stresses the importance of diversifying investments to manage market volatility and highlights potential pitfalls such as contribution limits and insufficient tailoring to individual financial goals. With millions retiring each year, understanding these aspects is crucial for effective retirement planning beyond just relying on a 401(k).

For as long as many can remember, a 401(k) savings plan is the best retirement option.

Yes, there are advantages to choosing this retirement option, but this doesn't mean it's problem and risk-free.

Read at 24/7 Wall St.