Monday, October 15, 2007

Mistakes in Retirement Planning

(Nine Dumbest Retirement Moves) This article has a good list of common mistakes that take place on the way to retiring. It brings out some good points about what people do and what people think about retirement that can change how they exist in retirement. It also mentions several times that miss planning for retirement can turn your dream into a nightmare. When you don't save and plan adequately your dream of life in the beach house can turn in to a place of struggling to make your payments and looking for help from your family. Even when you are young simple things like cashing out of a 401K plan when leaving your job can create a financial hole when you retire. When you are young you should consider how your descisions are going to affect the long term.
The key to this advice is to learn from the problems that are being found commonly in those that have already retired. People struggling from payment to payment due to inflation is a lot more common then you might think.

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