Avoid the Biggest Retirement Mistakes

Have you heard of the ‘halfback retirees?’ They are seniors who packed up for warmer climates and discovered they missed many of the things they left behind. They end up moving halfway back to their former home! Some advise you to rent at your dream location for a year or two to avoid it turning into a nightmare!

Many seniors may wax poetic about the coming days of retirement, but wish they began investing in their retirement portfolios much earlier in life. Once you turn 50, you’re allowed to make catch-up contributions in both IRAs and 401(k)s, which will hopefully help. Intentions to continue working past 65 could backfire. While over half of workers plan to continue working in retirement, only 20 percent are employed.

Most seniors are aware of scams and are savvy enough to avoid them; however, the scammers are becoming more sophisticated. Seniors should stay informed of the latest scams since people lose hundreds of millions of dollars a year to fraud.

Read HERE to learn 16 issues to be aware of as you prepare for a fruitful and happy retirement.