It sure can feel good to be in the homestretch toward retirement. But retired life is a different ballgame than the years we spent working and accumulating wealth. People are living longer, and this increases the risk of outliving our money – not to mention other challenges that can put our goals at jeopardy.
While there’s no such thing as a fail-safe strategy, it definitely helps to have a retirement financial plan for ever-evolving economic conditions. Knowing what to do to plan is certainly part of that. But it’s just as important to understand what not to do. Otherwise inferior decisions could negatively affect your retirement lifestyle for many years to come.
Here are five potential missteps you should strive to avoid as you look ahead to retirement.
