3 Seemingly Innocent 401(k) Moves That Could Cost You Big Time
Not everyone has access to a 401(k) plan through a job. But if you have the option to save in one of these accounts, it pays to do so.
The nice thing about 401(k) plans is that contributions are automated. Because they're taken as payroll deductions, it's fairly easy to stay on track with your savings efforts. With an IRA that you have to actively fund yourself each month, you risk overspending and not being able to move money over at all.
But while saving in a 401(k) could eventually set you up for a worry-free retirement, the wrong decisions on your part could stomp all over that goal. Here are a few seemingly innocent moves you might be making in your 401(k) that result in less savings at the end of the day.
Source Fool.com
