Not Comparing Investment Fees
A common mistake among employees that aren’t entirely sure how 401(k) plans work is not comparing investment fees. This could also be due to the fact that many people consider half percentage points to not matter all that much, but this couldn’t be further from the truth!
Comparing fees is as important now as it will be during retirement. Even the smallest change could translate into a vastly different nest egg. If you’re looking for broad-based index funds that charge around 0.2% (or less!) per year, they’re not impossible to find.
Again, talk to a financial adviser if any of this sounds even a little bit confusing to you so that you have the best chance at retiring comfortably by paving the road with good financial decisions as you move forward.