Common 401K Mistakes

Have a 401(k)? They can be a great tool to have, let’s talk about what mistakes do you need to look out for.

Apple PodcastsSpotifyTuneIniHeartRadio

The View From The Pinnacle

Have a 401(k)? They can be a great tool to have, let’s talk about what mistakes do you need to look out for.

Click the timestamps below to fast forward to certain points of the episode.


Thing’s You’ll Learn Along Today’s Journey

A great way to save for and build toward retirement in through your 401(k) at work. That said, some of these common mistakes can cause real issues. On today’s podcast, we discuss possible pitfalls with your 401(k) and how to avoid them. 

What happens when you leave your job? Sometimes people will forget to rollover their 401(k), leaving it behind. Forgotten assets can leave a bit of a mess and lack of coordination between the investments. You might not be as diversified as you think you are when your money is scattered all over.

Have you rebalanced lately? Or are you overly weighted in bonds? Making sure you rebalance on a consistent basis is key. If you have a target date fund, what is the rebalancing process? Sean explains what a target date looks like and how well it fits within your financial plan. Keep in mind that the algorithms of a target date fund are not the same as a custom plan. When is it a good idea to have and when should you be more focused on a custom plan?

When you work with a 401(k) advisor through your job, whose best interests do they really have in mind? They will follow the guidelines set out, but don’t expect a bunch of focus on financial wellness. Your financial advisor is the one thinking through creating a cohesive and custom plan for you.

Finally, are you assuming the 401(k) fees are minimal? Just because they can be hard to find on a statement does not mean you aren’t paying fees on a 401(k). What the fees are and the value they bring is important to understand. Are you getting enough value to receive the fee being charged?

Listen to the entire episode to hear more or click on the common 401(k) mistakes using the timestamps below.

0:30 – Spring is Sean’s favorite time of year.

0:58 – Left the job and leave the 401(k) behind?

3:00 – Are you rebalancing?

4:23 – How does rebalancing work within a target date fund?

7:04 – Does the 401(k) planner have our best interest in mind?

9:08 – Are you assuming fees are minimal?


Looking Back From The Mountaintop

The 401(k) is not a plan. The 401(k) is just a piece to your plan and a tool to use to help get you there.

-Sean Lee


Resources From Today’s Podcast

Sign Up For A Class With Us

Check Out Our Media Center

Learn More About Sean


Your Guide:

Sean P. Lee – Contact


Retirement Baseball

While home runs are an exciting part of any baseball game, the end result of who wins the game has a lot more to do with how the rest of the game is played. Drawing from his extensive experience both on the field and in finance, Sean provides valuable insights into how the principles of baseball can be applied to crafting a successful retirement strategy.


Rookie Investment Mistakes

Investing can be a daunting task, especially for those who are new to the game. In this podcast, Sean shares his expertise on common rookie investing mistakes and how to avoid them.


Retirement Satisfaction

Who are the people who have the highest satisfaction in retirement? And how can you be one of them? It begins with understanding your retirement needs.



For over a decade, Sean Lee has helped families reach and maintain their financial goals. As a trusted advisor, he coaches and assists his clients with their financial goals by focusing on the fundamentals and takes a practical and personal approach when working with them.

As a trusted professional in Utah, Sean has been featured in The Wall Street Journal’s Market Watch, The Deseret News, The Salt Lake Tribune and USA Today. He has also been featured as a local financial advisor on Utah’s NBC station, KSL 5.

Questions for Sean?



(801) 639-0095

Investment Advisory Services offered through Elevated Capital Advisors, LLC, an SEC Registered Investment Advisor. Insurance products and services are offered through Elevated Financial Services, LLC.

*Guarantees provided by insurance products are backed by the claims-paying ability of the issuing carrier.

The retirement kit is provided for informational purposes only. It is not intended to provide tax or legal advice. By requesting this report, you may be provided with information regarding the purchase of insurance and investment products in the future.