Four 401(k) Mistakes You Don't Even Realize You're Making

The 401(k) is the most important retirement savings tool for most American households, but many people are hurting themselves by making a handful of common mistakes without even knowing it. Luckily, most of them are easy to fix. Consider these four common missteps and the ways to correct them.

People love the tax deductions created by 401(k) contributions. Those deductions can be enormously helpful as you build a retirement fund, but the IRS gets its cut eventually. Your 401(k) grows on a tax-deferred basis over the decades, but you'll have to pay up when you access that cash.

Image source: Getty Images.

Continue reading

Source Fool.com