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Financial Planners Favor $1M 401(k) Over Million-Dollar Home for Retirement
Financial Planners Favor $1M 401(k) Over Million-Dollar Home for Retirement
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Certified financial planners overwhelmingly prefer a $1 million 401(k) over a similarly valued home when planning for retirement. The tax-advantaged account offers greater liquidity, lower ongoing costs, and higher growth potential through market investments.
While homeownership provides housing security without mortgage payments, property taxes and maintenance create persistent financial obligations. The 401(k)'s flexibility proves particularly valuable for retirees needing accessible funds.
Investment options within 401(k)s—including index funds and target-date funds—allow for diversified exposure to equities and fixed income. Traditional accounts provide upfront tax deductions, with withdrawals taxed as ordinary income after age 59½.
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