There are a few common mistakes that people tend to make with their 401(k). You'll be better off if you avoid them!
Common mistakes and what to keep in mind:
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Not setting aside enough money: 10-15% is typically recommended by financial professionals.
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Failing to take advantage of company match: At the very least, contribute enough to get the full match.
- Making decisions based on the news: Remember that your 401(k) savings are a long term investment and reacting to short term fluctuations can affect your progress.
More mistakes to avoid in The Week’s article:
http://theweek.com/articles/659143/9-mistakes-avoid-401k
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