Solely Using 401(k) for Retirement. Some of the Negatives
Investors love 401(k) accounts for retirement savings, but they provide the best results when used in conjunction with other investment vehicles. Tax benefits, systematic saving, asset growth, and employer contributions are all fantastic features of 401(k)s, but relying on them exclusively can have negative tax ramifications, limit investment opportunities, and hamper liquidity. Investors should consider other types of accounts to develop a comprehensive retirement plan that is designed to flourish in different circumstances.
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