The biggest mistakes people make with their 401(k)s
However, there are many events that can eat away at your nest egg.Most people who start saving for retirement expect things to go well.at Boston College found that a 25-year-old with a median income who contributed regularly to his or her 401 account starting in 1981 — when the plans first took off — would have accumulated around $360,000 by the age of 60. Yet the typical 60-year-old has under $100,000 saved.
"Many plans allow auto escalation, which means your contribution amount will be increased by 1% or so every year," said
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