401(k) investing strategies for couples
Beware of bad funds
Unfortunately, some 401(k) plans don't offer very good choices, says Armstrong. "A couple may have two plans, one with really good choices and the other with terrible choices," he says.
In that case, it could make sense to max out the good plan to the extent possible and find the best choices of the bad plan, contributing just enough to get the employer match, he says.
Nauta adds that most plans, even the worst plans, usually have at least a "semidecent" bond fund. If it's not too expensive, put the entire bond allocation in the bad retirement plan, and in the better plan, spread out investments over several different types of stock funds.
Maximize your 401(k), and retire in style
No matter where you are in your career, be sure to make the most of your workplace retirement plan.