This Devastating 401(k) Mistake Could Have You Playing Catch-Up for Years. Here's How to Avoid It.
A 401(k) is the go-to retirement account for most people who qualify for them, for many good reasons. They enable you to set aside large sums, you might qualify for an employer match, and they can be pretty convenient.
Once you've set up your 401(k) contributions, the money automatically comes out of your paychecks unless you decide not to contribute anymore. Or at least that's how things are supposed to work. In practice, there's an alarming issue that, when recognized, leaves many workers scrambling to make up for lost time. Here's what you need to know so you can avoid it.
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Source Fool.com