3 Mistakes You Might Make When You First Open a 401(k)
Saving well in a 401(k) could set the stage for a comfortable retirement. As of 2022, the average 401(k) balance among Vanguard participants was $112,572, while the median balance was $27,376.
But no matter what savings goal you want to set, it's important to manage your 401(k) well from the start. And that means steering clear of these newbie mistakes.
The money in your 401(k) plan shouldn't just sit in cash. If you go that route, you might stunt your savings' growth in a very big way.
Source Fool.com
