Are you making this mistake with your new higher-paying job? - CBS News
Have you switched to a higher-paying job recently? According to recent research from Vanguard, many workers who jump to a new position frequently enroll in their new 401(k) plan at a lower contribution rate than their previous employer, causing them to miss out on thousands of dollars in savings. Why? Vanguard found for those workers who switched jobs, “many automatically enrolled in the default savings rates in 401(k) plans at 3 percent even though they may have been saving at a higher percentage at their prior employer.” Aimee Picchi explains how this common retirement mistake could cost you up to $300,000 in retirement savings. Read Ms. Picchi’s article here…
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