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Fidelity Investments

Avoiding Retirement Saving Pitfalls

Workers' confidence in their ability to fund retirement is rebounding, according to a recent survey by the Employee Benefit Research Institute. A positive uptick in confidence is a step in the right direction, particularly on the heels of record lows between 2009 and 2013. But despite the nascent economic recovery, there are still pitfalls that can derail retirement readiness."We all have tendencies to do things that are outside of our best interests," says Emily Guy Birken, author of "The 5 Years Before You Retire: Retirement Planning When You Need it the Most." "With limited time to recover from mistakes and the high consequences you face if you make one, it's better to avoid retirement planning mistakes than try to recover from them."Here are six common pitfalls that can derail a retirement plan.1. Avoiding market volatility at the wrong timeAny investor who's been around since at least 2008, when the broad stock market lost nearly 40% of its value in one year (as measured by the S&...

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