Not planning adequately for healthcare expenses can lead to financial strain later on, especially considering potential long-term care needs.
Failing to create and stick to a budget can result in overspending and a depletion of retirement savings.
Claiming Social Security benefits too early can reduce monthly payments significantly over time.
Over-relying on a single investment or asset class can increase risk and limit potential returns.
Not optimizing tax strategies can result in paying more taxes than necessary, reducing overall retirement income.
While it's natural to want to help family members financially, being overly generous can deplete retirement savings quickly.
Living longer than expected without enough savings can lead to financial difficulties in later years.
Failing to have a will or estate plan can result in higher probate costs and difficulties in distributing assets as desired.