Retirement Plan Investment Mistakes
It’s almost impossible to not make any retirement plan investment mistakes. But that should not stop you from striving for investment perfection.
The best way to reach perfection is to avoid the most common mistakes that other investors make.
You can only blame market fluctuations so many times for your poor investment returns. Review your investment decisions, you may be able to improve your investment performance with a few slight adjustments.
Avoid Mistakes Those Other Investors Make
Avoid the mistake of picking investments based on performance alone. You can improve your retirement plan performance by making your selection based on the strength of the company you are investing in. Markets gyrate up and down, investment performances fluctuate but company strength is usually more grounded. Use performance as only one barometer in determining your investment selection.
Another common mistake to avoid is to only invest enough in your company’s retirement plan when the company matches to receive the company match. You should invest the maximum amount allowed by the IRS not just enough to catch the match.
Stop agonizing too much about asset allocation. A better investment approach is to determine how much money you will need to support your retirement someday.
Fast Track Your Retirement
You are ultimately responsible for the type of retirement lifestyle you will enjoy or not enjoy. You can fast track your retirement planning by avoiding the most common investment mistakes that other investors make.