Ep 83: 5 Mistakes to Avoid in Your 401k
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By Scott Sierens. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
Saving in your 401(k) can be an easy and painless way to build your retirement savings. But because it’s so easy and painless, it can also be easy to ignore for long periods of time, which often leads to mistakes. In this episode, we’ll cover at least the top 5 mistakes people make in their 401(k)s.
Here’s some of what you’ll learn in this episode:
- Why you should always take advantage of the company match. (3:57)
- Don’t assume a target date fund provides you a customized solution for your needs. (7:26)
- Too many people fail to rebalance their portfolio often enough. (12:01)
- The 401(k) plan doesn’t view you as the client. Your company is their client. (14:53)
- Why you shouldn’t automatically leave your money in a former employer’s 401(k) account. (19:19)
Read more and get additional financial resources here: http://lifemoneyshow.com
Check out our YouTube channel: https://www.youtube.com/channel/UCPhQ-u12d60Z0HNCwwVubdQ
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