8 Common and Costly Retirement Planning Mistakes Story

8 Common and Costly Retirement Planning Mistakes

Most of us look forward to retirement, but it can be a very stressful transition. Carefully planning your financial future will increase the chance that your golden years will truly be enjoyable.

[{"selector":"#anim-0fc17a30-9e37-4861-83d2-e9a45f218181","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d6d8ef59-2994-424f-8a3c-f35bf0dc180f","keyframes":{"transform":["translate3d(-115.92356%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Read More

Here is a brief guide to avoiding costly mistakes in retirement planning. A secure, happy retirement requires savvy planning, saving, and investing.

[{"selector":"#anim-abc2d24d-4d24-48af-bdfa-6cfcb281608d","keyframes":{"opacity":[0,1]},"delay":0,"duration":2400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8f15830a-9eca-4fb2-82ea-9f44cadabae2","keyframes":{"transform":["translate3d(0px, -95.26052%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2400,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Read More

8 Common and Costly Retirement Planning Mistakes

Not Putting a Plan in Writing with the Correct Updated Assumptions

[{"selector":"#anim-7ff3f903-4810-4b50-9a9c-2c52323c4f5e","keyframes":{"transform":["translate3d(105.76923%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e257e89f-0996-40b9-9cd3-f22d341f2f2f","keyframes":{"opacity":[0,1]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5bb7918e-9cc1-4449-821e-c473a43f1692","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Potential retirees should consider testing and updating their plans using a wide range of market returns assumptions, including the rate of inflation and other macro factors. Read More

Not Using a Retirement Projections Calculator

[{"selector":"#anim-f500cb40-c17b-41ab-a4aa-b282a378e437","keyframes":{"transform":["translate3d(113.14986%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-17da19e5-de5e-4b3a-8260-5a358c3132db","keyframes":{"opacity":[0,1]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c33674b3-1782-422c-8d0d-f8a0b72863b4","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Every person who plans to retire should use a retirement calculator in order to determine just how much m oney they will need in order to retire while maintaining a comfortable standard of living. Read More

You can avoid the early filing benefit reductions imposed by Social Security by working until your full retirement age (as defined by the IRS).

[{"selector":"#anim-30f6eb19-f4de-4724-b1df-1089c3529870","keyframes":{"transform":["translate3d(109.62099%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e88839da-297b-4c48-b7d2-7d6f2a3fa95d","keyframes":{"opacity":[0,1]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-352b3465-a0ec-4da3-a4bf-1800a5bc67f4","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Read More

The majority of retirees choose to begin receiving Social Security payouts within a few months after turning age 62 or immediately after they stop working.

[{"selector":"#anim-50f7bed8-f422-4713-ab5e-f02fc185749e","keyframes":{"transform":["translate3d(106.61157%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-274c9588-33d5-4160-9a19-8b764f9347ec","keyframes":{"opacity":[0,1]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c0bb11b2-81b6-4c45-9307-87a8e92ab4fb","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Read More

Health care costs pose one of the most serious risks to retirement security, so it’s important to understand how to plan for this major expense and navigate the system.

[{"selector":"#anim-e83b2a89-2032-486e-81ec-40f250204532","keyframes":{"transform":["translate3d(106.88705%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5b44e98e-d207-4b4a-a507-d7ad6ee297b1","keyframes":{"opacity":[0,1]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a88a85cc-8dbe-4abb-a93c-83570fc22dfa","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":4000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}] Read More

SWIPE UP NOW TO READ MORE

[{"selector":"#anim-35d12da8-21ba-45df-aba0-ff1fd3e0d829","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a035cc57-e51f-4b10-bef5-bfe5170182d6","keyframes":{"transform":["translate3d(-116.50794%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Read More

8 Common and Costly Retirement Planning Mistakes

Most of us look forward to retirement, but it can be a very stressful transition. Carefully planning your financial future will increase the chance that your golden years will truly be enjoyable.

Here is a brief guide to avoiding costly mistakes in retirement planning. A secure, happy retirement requires savvy planning, saving, and investing.

8 Common and Costly Retirement Planning Mistakes

Not Putting a Plan in Writing with the Correct Updated Assumptions

Not Using a Retirement Projections Calculator

You can avoid the early filing benefit reductions imposed by Social Security by working until your full retirement age (as defined by the IRS).

Not Choosing the Optimal Retirement Age or Retiring Too Early

The majority of retirees choose to begin receiving Social Security payouts within a few months after turning age 62 or immediately after they stop working.

Taking Social Security Too Early

Health care costs pose one of the most serious risks to retirement security, so it’s important to understand how to plan for this major expense and navigate the system.

Underestimating Health Care Costs

SWIPE UP NOW TO READ MORE

MORE STORIES