We, as humans, tend to think that once you get to retirement it’s over and done with. But getting to retirement and building your nest egg is the easy part. The hard part is what you do in retirement to preserve your wealth.
In this episode, Debbie talks about the 8 Blunders to Avoid in Retirement.
1. Failing to incorporate “extra” expenses into your financial plan
2. Underestimating the cost of healthcare
3. Inadequately accounting for taxes
4. Failing to adjust your financial plan when retiring earlier than projected
5. Funding unbudgeted expenses for loved ones
6. Underestimating your longevity
7. Relying solely on social security to cover your living expenses
8. Forgetting about Required Minimum Distributions (RMD’s)
Have a question about retirement saving and/or planning in Bergen County, NJ?