Broker Check

Big 401(k) Mistakes and How To Avoid Them

| April 26, 2013

The Lead Comment

For better or for worse, the 401(k) and its non-profit counterpart, the 403(b,) have become central to many folks’ retirement. As a result, it has become ever more important to pay attention to some key details. Some who “automatically” contribute so much that they don’t keep an adequate “emergency fund” of (minimum) 3, or better yet, 6-12 months living expenses, make themselves unnecessarily vulnerable. They could then end up making another one of the 4 mistakes listed below, i.e. taking a 401(k) loan to pay off a debt. At the same time, not contributing enough could leave you short on retirement income.

Finally remember that professional, fee-only help is available for those wanting ongoing advice on their 401(k) allocation, especially in the context of their overall financial & retirement planning.

The How-To Articles

Big 401(k) Mistakes, and How To Avoid Them . . . Wall Street Journal
1) Under & Over-contributing. 2) Ignoring Fees. 3) Taking a 401(k) loan to pay off debt. 4) Ignoring Allocation

Hitting 65, Boomers seek out retirement coaches . . . . CNBC

One Way to Time the Market . . . . Wall St Journal

Never Throw Away Your Tax Returns . . . .

Renegotiate Life Insurance Cost . . . . Wall St Journal

The Finance – Economic – Political Articles

The Excel Depression . . . . New York Times

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