There are many mistakes that people make with their 401K accounts. Today we try to help you avoid those mistakes now instead of trying to fix them later. They mainly fall into three categories.
Contribution Level Mistakes
- Not putting enough into your 401k
- Not putting anything into your 401k
- Not increasing your contributions over time
Investment Mistakes
- Fund Selection
- Being too heavily invested in Company stock
- Panic when the market drops
- Not reallocating or rebalancing
Miscellaneous Mistakes
- Not doing a household budget
- Not knowing about Roth 401K's
- Understanding investment fees and risks
- Taking loans from 401K accounts without knowing the rules
Learn more:
Everplans Estate Planning
Email Richard: ROring@ncfg.com
New Century Financial Group Website
Call Richard: 609-924-2049 x126
