Retirement accounts and the 401(k) have become somewhat synonymous. By far the most popular type of retirement account is the 401(k), with close to 35% of working-age people (age 15 to 64) having one or an equivalent like a 403(b). The percentage is even higher for adults when you consider that most jobs for teenagers don't offer a 401(k).

When it comes to saving for retirement, the idea has always been the more, the better. That's why maxing out a 401(k) seems like a no-brainer. However, the unfortunate truth about maxing out your 401(k) is that it's overrated.

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Source Fool.com