Skip to content
  • Home
  • World News
  • Business
  • Aviation
195 news

195News

All the news that's fit to print

  • Home
  • World News
  • Business
  • Aviation
  • Toggle search form
  • FAA Safely Keeps More Airspace Open During Most Florida Space Launches
    FAA Safely Keeps More Airspace Open During Most Florida Space Launches Aviation
  • War Day 304: war diaries w/Advisor to Ukraine President, Intel Officer @arestovych & #Feygin
    War Day 304: war diaries w/Advisor to Ukraine President, Intel Officer @arestovych & #Feygin World News
  • Fobi AI Announces Change of Auditor to BDO Canada LLP
    Fobi AI Announces Change of Auditor to BDO Canada LLP World News
  • Nauru National Day – United States Department of State
    Nauru National Day – United States Department of State World News
  • FAA Summer 2023 Operational Summit Readout
    FAA Summer 2023 Operational Summit Readout Aviation
  • Key Calibration Services Market Trend 2024-2033: On- Groundbreaking GNSS Technologies
    Key Calibration Services Market Trend 2024-2033: On- Groundbreaking GNSS Technologies Aviation
  • (Video) Iran’s Nuclear Program: Appeasement Backfires
    (Video) Iran’s Nuclear Program: Appeasement Backfires World News
  • Mark Feygin on “Russian World”
    Mark Feygin on “Russian World” World News
Capitalize: 6 Mistakes People Make When They Start a New Job

Capitalize: 6 Mistakes People Make When They Start a New Job

Posted on October 7, 2022 By NewsEditor
Capitalize: 6 Mistakes People Make When They Start a New JobCapitalize: 6 Mistakes People Make When They Start a New JobNEW YORK - October 7, 2022 - (Newswire.com)

Starting a new job is an exciting time, but it can also feel a bit overwhelming. There are so many things to learn and get familiar with, like new co-workers, job responsibilities, benefits, and hopefully, a higher salary. The good news is that avoiding a few common mistakes people make when starting a new job can help someone seamlessly transition into their new role and eliminate unnecessary stress.

From missing out on valuable benefits to making a decision on transferring 401(k)s, here are six mistakes people make when changing jobs and how to avoid them:

1. Changing spending habits

One of the biggest mistakes people make when they start a new job is changing their spending habits. A new, higher salary could tempt people to spend more money, a phenomenon known as "lifestyle inflation." As spending grows with salary increases, net savings remain constant; sometimes, if spending grows too large, net monthly savings can even decrease. Hence, it's important to stick to a preset budget. Following a disciplined budget with a higher salary means more savings.

2. Missing valuable benefits

Many companies offer unique benefits that can help save time and money. For example, some companies provide childcare benefits or tuition reimbursement. Many companies offer a 401(k) match, giving employees free money toward retirement. Taking advantage of any benefits offered by a new company can lead to significant financial benefits. During orientation, new hires should discuss benefits with human resources to ensure they aren't missing out on useful benefits.

3. Putting off retirement planning
One of the biggest mistakes people make when changing jobs is forgetting to factor in their retirement plans. Tasks to do include:

  • Finding out what different retirement options new employers offer
  • Determining whether IRA contributions make sense with the new income
  • Setting up recurring contributions to the new 401(k)

These tasks can take some time but it's well worth it to prevent new employees from falling behind on retirement planning while preparing for the future.

4. Forgetting about an old 401(k)

Over 20% of 401(k)s are forgotten or left behind due to job changes. Unfortunately, account holders could face almost $700,000 in foregone retirement dollars from a single forgotten 401(k). One way job changers can avoid this is by rolling an old 401(k) into an IRA or their new employer's 401(k). Rolling an old 401(k) into an IRA can have many benefits, including lower fees, greater control, and more investment options. 

5. Skipping networking

New jobs provide an excellent networking opportunity. Getting to know new colleagues and building relationships can benefit new hires down the road. Of course, with the rise of remote work, networking can seem difficult. Useful networking strategies for new hires can include setting up virtual water coolers or making a point to connect with colleagues on sites like LinkedIn.

Also, starting a new job should not mean losing touch with former colleagues. Staying in touch with former co-workers and clients can lead to even more opportunities in the future. 

6. Forgetting to plan for taxes

Forgetting to factor taxes into a new salary can lead to unpleasant surprises come tax season. As part of onboarding with a new job, employees will want to calculate the most appropriate federal withholding status on form W-4 so they don't have too much or too little tax withheld from their paychecks. Anyone moving to another state for their new job might be subjected to new state tax laws, too.

It's important to plan for taxes while factoring in pre-tax deductions, like 401(k) contributions. Understanding taxable income for the new job minus those deductions may help avoid future tax-related headaches.

Bottom line

A lot is going on when starting a new job, but avoiding these common mistakes can prevent financial and emotional distress down the road. Taking time to complete simple steps like exploring the new company's retirement plans and deciding what to do with an old 401(k) can help create a secure financial future.

The good news for people deciding to move their old 401(k) accounts is Capitalize can handle the legwork and makes moving the old account simple. All someone needs to do is provide Capitalize with their old employer's name and choose an IRA provider on Capitalize's website. Capitalize will handle the process to roll over the old 401(k) for free, saving time and hassle.


Contact Information:
Carolina Darbelles
PR Specialist
[email protected]
(305) 849-8443


Press Release Service by Newswire.com

Original Source: Capitalize: 6 Mistakes People Make When They Start a New Job Capitalize: 6 Mistakes People Make When They Start a New Job
Business

Post navigation

Previous Post: King County Conducts Successful Tax Title Real Estate Auction on Bid4Assets
Next Post: 80 Million People Can Trace Their Heritage to Newly Formed Hotel Collection

Related Posts

  • ZeroBounce Releases The Email List Decay Report for 2023
    ZeroBounce Releases The Email List Decay Report for 2023 Business
  • Book Featuring Autistic Superhero Released
    Book Featuring Autistic Superhero Released Business
  • A Groundbreaking Online Marketplace and Directory for Mortgage Servicing Professionals
    A Groundbreaking Online Marketplace and Directory for Mortgage Servicing Professionals Business
  • Infillion Appoints Margaret Chu as CFO
    Infillion Appoints Margaret Chu as CFO Business
  • Signals Announces 2023 RevTech Award Winners for Industry’s Top Growth Technology Leaders
    Signals Announces 2023 RevTech Award Winners for Industry’s Top Growth Technology Leaders Business
  • How Technology is Breaking New Ground in the Construction Industry
    How Technology is Breaking New Ground in the Construction Industry Business
August 2025
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
last celebrity gossip
Gossip Stone - celebrity life and gossip

Recent Posts

  • Augusta Precious Metals Ranked #1 in Industry ReportAugust 3, 2025
  • The National Space Society Mobilizes for the ‘Day of Action to Save NASA Science’August 3, 2025
  • Fremantle’s Original Productions to Give Away Bored Ape in Celebration of How The World Went Ape$h!t’s Stuff.io ReleaseAugust 3, 2025
  • Christmas Comes in July Thanks to First City Credit Union and KEVANI’s Generous Billboard Space DonationAugust 2, 2025
  • War in Ukraine, Analytics. Day 1243: Why American Aid Will Not Help. Arestovych, Shelest.August 2, 2025
Brand Values Content
VUGA Enterprises - media network PR & Marketing
  • With a Two-Year Revenue Growth of 813%, Aloware Ranks No. 25 on Inc. Magazine’s List of the Pacific Region’s Fastest-Growing Private Companies
    With a Two-Year Revenue Growth of 813%, Aloware Ranks No. 25 on Inc. Magazine’s List of the Pacific Region’s Fastest-Growing Private Companies Business
  • Unlawful Southwest Border Crossings Plummet Under New Border Enforcement Measures
    Unlawful Southwest Border Crossings Plummet Under New Border Enforcement Measures World News
  • VenueArc, A SaaS Venue Booking and Event Management Software Dedicated to Performing Arts Centers
    VenueArc, A SaaS Venue Booking and Event Management Software Dedicated to Performing Arts Centers World News
  • Valued at .6 Billion in 2022, Projected to Reach .4 Billion by 2032 with CAGR of 11%
    Valued at $6.6 Billion in 2022, Projected to Reach $18.4 Billion by 2032 with CAGR of 11% Business
  • Size, Trends, And Growth Insights For Global Expansion
    Size, Trends, And Growth Insights For Global Expansion World News
  • Website Closer Finds A New Home For Long-time Private Business Coaching Trailblazer
    Website Closer Finds A New Home For Long-time Private Business Coaching Trailblazer Business
  • Tech Visionary Kerry W. Kirby Delivers Bold Insights on The New Frontier of AI Digital Discovery in Must-Hear Podcast
    Tech Visionary Kerry W. Kirby Delivers Bold Insights on The New Frontier of AI Digital Discovery in Must-Hear Podcast World News
  • Wilson Learning Wins Two Stevie Awards for Sales and Customer Service
    Wilson Learning Wins Two Stevie Awards for Sales and Customer Service Business
aerospace company
stem cell clinic in kiev
medical spa in miami
Fashion TV free

Copyright © 2023 195 News. All Rights Reserved by Coolaser | Partner of VUGA Enterprises |  Advertising: Get Published

Powered by .