The 7 Ways People Screw Up Their 401(k)s

The go-to method of retirement saving for most white collar American workers these days is the company-sponsored 401(k) plan. Workers benefit from an easy, tax-favored way to sock away money. But the plans are not fool-proof, and they’re full of pitfalls that could trip up the novice investor. For four in 10 workers, 401(k) accounts represent their only retirement savings, according to Fidelity.