In this video as part of The Motley Fool's "Ask a Fool" series, Robert Brokamp, senior advisor to The Motley Fool's Rule Your Retirement service, takes a question from a Fool reader, who asks: "What are your thoughts on a 7702 retirement plan? We are in negotiations with an agent about a 7702 plan that is alleged to be better than an IRA or 401(k) in terms of safety and growth potential." Robert gives several reasons to be suspicious of a 7702 plan, and reiterates the strengths of a more traditional retirement plan.

Check out more from Robert (and Alison Southwick) in the Motley Fool Answers podcast.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.