55% of Americans Save in a 401(k). But Here's Why You May Want to Go a Different Route.
You can't expect Social Security to provide you with enough income to cover all of your retirement expenses. That's where personal savings come in. And in that regard, you have options.
If your employer offers a 401(k) plan, you may be inclined to participate. This especially holds true if that plan comes with a generous employer match.
In a recent New York Life survey, 55% of respondents say they house their retirement savings in a 401(k). But while these plans have their benefits, they also have their drawbacks. And so you may want to consider another home for your money.
Source Fool.com
