For the majority of U.S. workers, the 401(k) plan has become the single largest source of retirement savings. If you participate in one, the good news is that you have more control over your retirement money. The bad news is that you have more control over your retirement money.
For people who do not have the time or the financial knowledge, properly managing their 401(k) can be a daunting task. Moreover, if you do not manage it well, the 401(k) can become, at best, a savings account and, at worst, a high-risk gamble with your retirement money.