8 Typical and Expensive Mistakes in Retirement Planning

Retirement planning may not seem like rocket science at first – save as much as you can, figure out when to take Social Security, and draw as little as possible.

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But of course any financial plan designed to support you for decades has a lot of moving parts, and you must carefully consider all of those moving parts.

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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.

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There are numerous retirement planning pitfalls that you can proactively avoid. Here is a brief guide to avoiding costly mistakes in retirement planning.

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8 Common and Costly Retirement Planning Mistakes

1. Not Putting a Plan in Writing with the Correct Updated Assumptions

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2. Not Using a Retirement Projections Calculator

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Staying on the job for a few additional years can boost your income in retirement by one-third or more.

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