401(k) participants reached record highs in 2023, but common mistakes include insufficient contributions, conservative investing, and early withdrawals/loans.

401(k) participation, contributions, and account balances reached record highs in 2023, but many savers still made mistakes. The New York Times highlights the top 3 mistakes to avoid with your 401(k): 1) Not contributing enough, 2) Investing too conservatively, and 3) Making early withdrawals or taking out loans. Despite positive trends, savers need to be mindful of these pitfalls to ensure a secure retirement.