One of the best things anyone can do to prepare financially for retirement is to use retirement accounts because they provide a two-for-one benefit. In addition to letting you actively save and invest for retirement, they offer tax breaks along the way.

The most common retirement account is a 401(k), mainly because it's offered through employers. It's convenient to set up, allows employers to match contributions, and gives people a hands-off approach. However, some downsides to a 401(k) shouldn't be overlooked. Here are three reasons to avoid a 401(k) for your retirement savings.

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Source Fool.com