Help Your Clients Make the Most of Their 401(k)
Saving for retirement is hard enough. Unfortunately, many investors make it even harder, often without even realizing it. Here are six 'mistakes' that you can help investors avoid to make the most of their 401(k):
- Choosing the automatic deferral rate as a recommendation, instead of thinking about a savings goal.
- Picking a great fund 10 years ago, when a lot has changed since then.
- Taking a loan from a 401(k), and then not paying it back quickly enough.
- Ignoring a 401(k) and not reviewing the plan periodically to make sure it is still on track.
- Obsessing over a 401(k) and letting emotions override a strategic vision.
- Not thinking enough about income needs in retirement.
Learn more about these 6 disastrous 401(k) mistakes. For more insights from BlackRock on retirement planning and investing, visit our Retirement Center.
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