The Biggest Retirement Planning Mistake You Can Make

You’ve probably heard that the average person spends more time planning a vacation than they do planning for retirement. Sure. I’ll admit it: planning for a vacation is a lot more fun. But neglecting to adequately plan for your “golden years” is the biggest retirement planning mistake you can make.

The biggest retirement planning mistake you can make

It’s an ambitious and daunting task to plan for 20, 30, or even 40 years of your life, especially in an uncertain economy. Here are some important things you’ll want to consider.

  • When to begin drawing Social Security income
  • How to generate retirement income from your IRA and 401(k) accounts
  • The most appropriate investment strategies for your retirement savings
  • How you’ll protect yourself against high bills for medical and long-term care
  • Where you’ll live
  • Developing a realistic budget for living expenses
  • The steps you’ll take to improve your health
  • What type of professional help you’ll need to properly manage your money

Do a good job planning and investing for your retirement and you’ll find a lot of other important financial matters will fall into place. Take the time now to avoid the biggest retirement planning mistake you can make.

Click here to read more about how to plan for your retirement.

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