The 3 biggest 401(k) mistakes that can derail your retirement, according to investment researchers
Publishing timestamp: 2024-08-22 09:00:01
Summary
Morningstar researchers found that about 45% of U.S. households may run short of money in retirement, but investing in workplace retirement accounts can significantly improve retirement outcomes. However, there are behaviors that can negatively impact retirement savings, such as cashing out retirement funds when changing jobs or withdrawing money for short-term goals. Setting contributions to automatically escalate and maintaining contribution levels when changing jobs can help increase retirement savings.
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Keywords: social issues, morningstar inc, labor economy, united states, personnel, personal finance,
Source: https://www.cnbc.com/2024/08/22/biggest-retirement-saving-mistakes.html