How to Avoid Common Retirement Blunders

7th Dec 2020

Coffee next to newspaper and tablet

Planning for retirement can result in living beyond your retirement savings and not being able to maintain your lifestyle. To ensure your retirement savings are on track, it’s important to create a retirement plan and make changes to it while you are still working. Some of these tactics include saving as much as you can, not living beyond your means and contributing to a retirement plan such as an IRA, 401 (k) or Defined Benefit plan. For instance, a Defined Benefit planis a retirement plan funded by an employer that offers tax advantages such as tax-deferred investment growth and tax deductions for contributions. Here’s a round-up of the top stories on how to avoid common retirement mistakes.

The 11 Worst Retirement Mistakes – And How to Sidestep Them

To avoid the worst retirement mistakes, it’s important to be realistic about your future and plan ahead. It’s very common to make the wrong financial moves when planning for retirement. Here are 11 financial mistakes to avoid.

Via Investopedia

How to Resolve the 7 Worst Retirement Mistakes

If you’ve made errors with your retirement planning such as overspending early in retirement or creating a plan but not maintaining it, there is still time to remedy the issues. Here are seven mistakes that you can resolve.

Via Money Talks News

3 Common Financial Mistakes Retirees Make – and How to Avoid Them

Innocent mistakes such as withdrawing from savings too aggressively, not following a budget and not accounting for taxes can hurt your retirement planning. Here’s how you can avoid them.

Via Motley Fool

The Biggest Money Mistakes People Make, According to Financial Advisors

CNBC spoke to financial advisors about the most avoidable mistakes they see their clients make. This includes living beyond your means and not paying taxes. Learn how to sidestep these mistakes.

Via CNBC

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