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A 401(k) can be a great way to save for retirement, but a few wrong decisions can derail your progress. Fortunately, it only takes a little planning to avoid the biggest 401(k) mistakes.
When creating a retirement plan, you may have decided to max out your 401(k) contributions yearly to ensure that you have sufficient funds to maintain your lifestyle in your golden years. Try This ...
The required minimum distributions of 401(k) plans can also complicate your retirement planning. The IRS mandates that you begin taking RMDs from your 401(k) at age 73, and the amount is based on ...
Sure, you could dip into your 401(k), but you'll face a 10% penalty on top of paying taxes. For example, if you have $100,000 in your 401(k), a 10% penalty would immediately take $10,000 off the ...
You could rob yourself of other opportunities. There are plenty of advantages to investing in a 401(k). They often offer an employer match, for example, which can instantly double your savings ...
Saving for retirement in a 401(k) plan is a very good thing. Perhaps the biggest near-term risk associated with maxing out your 401(k) is that you might not have enough money left over to address ...
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