401k

Have you ever been given the advice to contribute 15% of your income into retirement? Or that you should max out your 401K? Or that you should at least contribute up to your employer match? Don’t worry, those are not going to be my tips to maximizing your 401K. In this article, I’ll share the most common mistakes you should avoid to not only maximize the returns but also protect your 401K account.

Retirement investment accounts are complex. Some are pre-tax, some are post-tax. Some have penalties if you withdraw early, some allow you to withdraw up to a certain amount without penalty. Some require you to withdraw a minimum amount after the age of 70.5, some don't. And many others. In short, there's a lot of choices—and a lot of tradeoffs.