Anytime you utilize a 401(k), it's a good thing. However, there are ways to utilize a 401(k) more efficiently to ensure you get the most from your investments. One of these ways is by cutting back on how much you're paying in fees. One of the increasingly popular 401(k) investment options, target-date funds, can be an under-the-radar culprit of high fees.

Target-date funds are funds put together based on your projected retirement year. As you near retirement, the fund automatically reallocates its holdings to become more conservative (more bonds and cash, fewer stocks). While this hands-off approach seems ideal, there's a cost to this convenience.

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Source Fool.com