Every day, people make major mistakes that will affect their ability to have the retirement lifestyle they want. In order to enjoy a successful retirement, people need to recognize and avoid these common retirement planning hurdles, says Mark Singer CFP®.
According to Singer, the nine biggest retirement planning mistakes are:
- Outliving your money
- Not planning for inflation
- Taking out too much money
- Not working with a specialist
- Incorrect beneficiary forms
- IRA rollover mistakes
- Having too many accounts
- Not preparing for the transition into retirement
- Not understanding time frames
Understanding these common mistakes—and learning how to avoid them—will help simplify the retirement planning process and allow people to start making decisions based on real facts, as opposed to being driven by fear or anxiety. Rather than focusing on specific investment tips or asset allocation ideas, people should work with an experienced financial advisor who can help them coordinate all the their financial affairs and determine whether or not they are on the right track.
Mark Singer is a CERTIFIED FINANCIAL PLANNER™ professional and the author of The Changing Landscape of Retirement—What You Don't Know Could Hurt You. He has been The Retirement Guide to thousands of investors for close to 25 years and is the creator of the Retirement Roadmap and the Financial Organizer System, both of which contribute to a solution to investors' greatest concerns—properly coordinating their financial affairs.
http://www.yourretirementjourney.com