retirement

7 retirement investing mistakes

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Not taking full advantage of tax breaks
Not taking full advantage of tax breaks | bikeriderlondon/Shutterstock.com

Not taking full advantage of tax breaks

A person's actual investments can be less important than the types of accounts used for retirement investing.

The tax-favorable 401(k) plans and individual retirement accounts, or IRAs, are a huge leg up in getting to retirement because they enable your tax-deferred earnings to compound.

It's unwise to pass up the opportunity to invest in a plan when your employer matches a portion of your contributions. That's because you're passing up free money -- the equivalent of refusing a salary increase when it's offered.

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