COMMON MISTAKES PEOPLE MAKE WITH THEIR 401K PLAN

Merging Life and Money with MJ Caesar

🟦 Most American workers have the opportunity to save for retirement through a 401(k) plan. Are they making the most of it?

Many people make common mistakes that can impact their ability to save enough money for a secure retirement and cost them thousands of dollars in retirement saving.

🟦 My special guest Eric Dudley will discuss some of the most common mistakes people make with their 401(k) plan and how to avoid them. By understanding these mistakes and taking steps to correct them, you can ensure that your 401 K plan is working as effectively as possible for you.

#401(k)plan #companymatch #investmentperformance #vesting #contributions #ericdudley #merginglifeandmoney #mjcaesar

Here are some HIGHLIGHTS from this episode.

04:49 Why should you enroll in your 401K plan?

07:25 Your company match - Do you know how that works?

08:45 Are you leaving free money on the table?

09:54 What is vesting?

12:44 STOP cashing out your pension money before you retire

16:28 Increase your contribution regularly

19:38 Should you load up your 401K plan with your company’s stocks?

21:27 Revisit your investment performance regularly

25:00 The downsides of 401K plans

26:37 Make informed investment decisions

28:21 A few tips

29:19 A few more tips

32:05 As I see it

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