They were hailed as a much-needed option when they were first introduced in 1978. Not only did they take the pressure off increasingly struggling pension funds, but they offered workers more personal control of their retirement savings.

As time has marched on and people have become savvier investors, however, 401(k) plans have lost at least some of their luster. Here's a closer look at four of the top reasons you might not want to participate in such a work-sponsored plan and instead contribute that money to a self-directed retirement account.

You're always going to pay taxes on work-based income. It's just a matter of when, and how.

Continue reading

Source Fool.com