The 3 biggest 401(k) mistakes that can derail your retirement, according to investment researchers

  • 📰 NBCNewYork
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Contributing to a workplace retirement account drastically boosts your odds of a successful retirement, as long as you avoid some costly errors.

Bad news first: Across the U.S., Morningstar's model predicts about 45% of households will run short of money in retirement.Luckily, a few key behaviors are likely to get you among the prepared 55%, with one sticking out in particular: investing in a

For one, you're taking advantage of a matching contribution if your employer offers one. Financial planners tend to call these contributions"," but you can also think of them as a return on your investment. If your employer matches your contribution up to, say, 6% of your salary, by contributing that 6%, you theoretically earn a 100% return on that investment.

More importantly, every dollar you take from your long-term portfolio is money that doesn't get to grow at a compounding rate.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 270. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What short-term market volatility means for your 401(k)Widespread fears of a U.S. recession sent global markets tumbling Monday, with the Dow Jones Industrial Average falling by over 1,000 points in midday trading. Here's what it means for your 401(k).
Source: 10News - 🏆 732. / 50 Read more »

What you should do with your 401(k) in a highly volatile marketIf you're investing in a 401(k), daily market dramas are no reason to take dramatic actions with your portfolio.
Source: ABC7NY - 🏆 592. / 51 Read more »

What you should do with your 401(k) in a highly volatile marketIf you're investing in a 401(k), daily market dramas are no reason to take dramatic actions with your portfolio.
Source: abc7newsbayarea - 🏆 529. / 51 Read more »