6 disastrous 401(k) mistakes
6. Leaving retirement as an afterthought
The whole point of saving up for retirement is eventually to turn that nest egg into a stream of income years later, according to Mr. Castille. As they approach retirement, workers ought to take a hard look at how they’ll turn their hard-earned savings into income.
Get an idea of what your lifestyle might look like once you’ve stopped working. Mr. Castille suggests that employees get a handle of what their expenses will be later, and their savings will cover those costs.