can. The deferred taxes on investing in a 401K can be great... but you'll have to pay tax on it eventually, so its a no win situation. I'd much rather have the money available and use it and leverage it in areas where I have control and see the profits in action now. Not with some bank where you cannot retrieve it until you're 67 1/2 and its just a data point on monthly statements.
If you don't like real estate, invest it in classic cars, or guns. Invest it in a start up business. Just keep your money where you can see it and away from big corporations that are ruining the world - like Berkshire Hathaway, Apple, Disney, and Coca-Cola.