The Unfortunate Truth About Maxing Out Your 401(k)
Millions of us have 401(k) accounts, sponsored by our employers or former employers. And hundreds of thousands, if not millions, of us actually have accounts worth $1 million or more. That's not the norm -- millionaire accounts only made up about 1.8% of 401(k) accounts administered by Fidelity, for example. But Fidelity's recent 422,000 millionaire 401(k) accounts do show us how powerful a retirement saving tool 401(k)s can be.
Despite that, though, there's an unfortunate truth about 401(k) accounts: They may not be your best path to growing your wealth for retirement.
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Source Fool.com
