Costly 401k Mistakes to Avoid
As we approach the end of the year, many 401k investors are getting ready to do some housekeeping to their retirement portfolio. But thanks to a volatile 2010, the results on 401k statements could be very different from investor to investor — and may even prompt a desire to take a vastly different 401k investing strategy in 2011.
But before you dump your mutual fund holdings due to losses or double down in a successful mutual fund with hopes of bigger gains, investors should take care to avoid some of the most common 401k mistakes. Bad moves made now are compounded over time as you save for your retirement decades down the road via mutual funds and your 401k.
So before you make a change in your mutual fund portfolio that you may regret, keep in mind these seven costly mistakes of 401k investing.