When it comes to 401(k) mistakes, it pays to listen to investment guru Warren Buffett, who once said, “Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1.” Wise advice, especially when planning for your retirement — with little or no time for do-overs.
Most Americans can no longer rely on pensions for retirement, and Social Security is on shaky ground. Because of this, the humble 401(k) plan is the workhorse of most people's retirement strategy.
