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

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

The workplace retirement account has advantages, such as employer-funded contributions and tax-deferred investment earnings. Depending on your situation, a 401(k) on its own might not fully support your retirement savings goals. To help you decide if you should save and invest outside of your 401(k), here is a closer look at three drawbacks of using only a 401(k) for retirement.