Everyone is worried about the future. No one can be sure of what it holds, especially when it comes to planning your retirement. While surfing on the internet I came across this helpful article on the Forbes website relating to planning your retirement for the future. For the next couple of days I will publish articles relating to retirement planning mistakes.
One of the primary reasons that people engage a financial planner is to know if, and when, they can retire. Just the thought of retirement can cause anxiety and many feel overwhelmed and unprepared.
In fact, one of the biggest dilemmas for those approaching retirement is balancing the life they want to live today with the life they want to live in retirement.
There are some common, yet avoidable mistakes that prevent many people from retiring ‘on time’. But with some planning, you can steer clear of the mistakes that could derail your retirement.
Retirement Planning Mistake #1: Living Too Large
Retirement Planning Mistake #2: Disregarding Higher Health Care Costs
Retirement Planning Mistake #3: No Long-Term Care Plan
Retirement Planning Mistake #4: Not Saving Enough Then and Now:
Retirement Planning Mistake #5: Not Updating Your Retirement Plan