There are certain benefits to saving for retirement in a 401(k). For one thing, 401(k)s get funded automatically via payroll deductions, so if you have access to one of these plans and sign up, you may be more likely to stay on track with your savings goals.

Also, 401(k) plans often come with some type of employer match. So in that case, all you need to do is put in some money out of your own paycheck, and bam -- you're getting free cash in your account from your employer.

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Source Fool.com