We know how important retirement is for you, so we devised a comprehensive list of top retirement mistakes you must avoid.
- Not planning: It’s hard to know how much you must save for retirement if you don’t plan in advance. By planning in advance, you will avoid errors and be able to save enough.
- Retiring without a solid plan: Make sure you have a solid plan before you retire. Often times retiring early could also mean not receiving the maximum amount of social security you desire. Once you choose your social security type, it cannot be changed. If you do work a few years beyond what you’ve planned, you will receive a larger bonus in retirement security.
- Being unaware of your life expectancy: Woman are expected to live to an average of 85 years while males can live to be about 82. You must be aware of your personal life expectancy before you make solid plans.
- Job search at an older age: Getting a job later on in life is not as easy as you want it to be. Just be aware of that.
- Not saving enough:It’s easier to spend than it is to save. The more you save, the cushier your retirement funding will be.
- Poor use of qualified money: A percentage of people in the workplace cash out their 401 (k) balance when they change jobs. It’s better to send them into a new plan since taxes and fees occur during the retirement planning process.
- Ignoring annuities: Remember to use them. Please do not ignore annuities. It’s the only financial product available which can provide an income for any time period.
- Not understanding risk: As retirement approaches be wary of stocks and anything else that could put your retirement at risk. As retirement age approaches, many people make the mistake of have 80 percent of their account in the wrong asset allocation. If you are not aware of market trends, that could result in poor job performance.
Most people, at some point in their lives, will need financial advice. When the time comes for you to reach out to a professional financial adviser, whom should you trust? How can you be sure that the financial adviser you choose has your best interests in mind? How do you know that your money is in good hands?
The Answer: Trust Safe Retirement Solutions!
For more information about Professional Financial Planning, or for professional financial advice, consult the financial advisers at Safe Retirement Solutions by calling 877-268-4086 or visit our website today!
Safe Retirement Solutions’ financial advisers help our clients in all phases of their retirement planning. We help them prepare for a retirement free from financial worries, so that they can enjoy their retirement years. We help to enable our retired clients with the transition of their wealth into a carefree income that will last them a lifetime.