Retirement: Why Your $1 Million 401(k) May Be Worth Less

A million bucks in a 401(k) doesn’t mean you have a seven-figure fortune to spend in retirement. Unfortunately, Uncle Sam takes his tax cut. Suddenly, the $1 million sitting in a traditional retirement account isn’t as well fortified as you thought. “One million dollars in a 401(k) isn’t really worth a million dollars,” said David Schneider, a certified financial planner…