45% of US households face potential retirement fund shortfalls; addressing 3 common mistakes enhances prospects.
45% of US households may face shortfalls in retirement funds, warns Morningstar's research. Avoiding three common mistakes can improve retirement prospects: 1) not using retirement accounts for near-term goals, 2) not rolling over funds when changing jobs, and 3) not increasing contribution rates over time. By participating in workplace retirement plans like 401(k)s or 403(b)s, individuals can enhance their financial preparedness for retirement.
August 22, 2024
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