The 10 Most Common Retirement Mistakes
By Christopher L. Hudson, Financial Advisor, CIMA®
As the team enters into our 5th decade of managing money for retirees, here are the top 10 retirement mistakes that we have seen over the past 43 years:
- Underestimating the impact of inflation on your retirement nest-egg.
- Underestimating just how long you might live.
- Overestimating your potential investment income in retirement.
- Investing too conservatively.
- Setting unrealistic return expectations.
- Underestimating healthcare costs.
- Failing to understand your various income sources in retirement.
- Relying too heavily on government benefits (Social Security & Medicare).
- Underestimating the cost of maintaining your home in retirement.
- Investing too aggressively given you return requirement and income needs.
Any opinions are those of Christopher Hudson and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Investing involves risk and you may incur a profit or loss regardless of strategy selected.
