Think about all the time and effort you put into building and following a retirement plan. All of the saving, sacrificing, and investing to reach the next chapter of your life in a position to enjoy it the way you choose.
Why would you do anything unnecessary to erase decades of hard work?
Mistakes get made for a variety of reasons but many times they can be avoided with the right guidance and information. So that’s what we hope to provide on this episode of The Retirement Huddle. Mark Howard will make you aware of five mistakes that people are making in retirement that could ruin everything you’ve work for.
First and foremost, you can’t think of retirement as the finish line. With people living longer and longer every year, it’s reasonable to think that your retirement could be a similar length of time as your working career. Have you ever thought about it that way? If you don’t have a plan in retirement, then you are positioning yourself to fail.
From there we’ll talk about things we commonly discuss with our clients, like retirement income planning, risk tolerance, and staying active. Each of these is critical for retirement success and we want to make sure you’re set up to win.
If you haven’t taken the time to think about life after your retire, make that a priority. Figure out what you want to do, where you want to go, and what kind of lifestyle you want to live. Then set up a time to meet with an advisor to put a plan in place to accomplish those goals, and we’ll talk about how that process works during this show as well.
Thanks for listening to this episode. We’ll be back for another show every other Thursday.
[0:55] – Treating retirement as the finish line.
[2:21] – People believe retirement will solve their problems because they’re no longer working.
[3:28] – Assuming that your monthly spending habits in retirement can be determined by your habits while working.
[5:09] – People stop being active in retirement.
[7:23] – Investing like you’re 35-years-old.
[9:05] – Here’s what we do to help someone that calls us and wants to start the planning process.