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

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

Your employer 401(k) plan is a powerful tool, and there are plenty of advantages to contributing to one as you're saving for retirement. Especially if your employer offers matching contributions, saving in a 401(k) is a no-brainer. While the 401(k) certainly has its place, there are a few downsides to only contributing to this type of retirement account.