Many workers have access to a 401(k) retirement savings plan, but that doesn't mean they understand much about it.
Financial advisors routinely see new clients who either have little grasp on the inner workings of their 401(k) plan or have no idea why they picked the investments in their account that they did.
"A lot of times, no one really unpacks the operating manual for people to show how the vehicle works," said certified financial planner Stephanie Genkin, founder of My Financial Planner.
If you're part of the befuddled crowd, advisors say that taking time to understand some key aspects of these tax-deferred retirement plans can help you make smarter decisions for building your nest egg.
Sarah O’Brien | CNBC