7 Things You Should Never Do When Planning For Retirement
7 Things You Should Never Do When Planning For Retirement
ADAM MCFADDEN | Updated July 21, 2022
Looking to retire comfortably? Avoid these mistakes.
It’s never too early, or too late, to start thinking about your retirement goals. No matter if you’re hoping to retire early or work until you can’t any longer, having a plan for how you can retire comfortably is essential.
Get started on these steps right now so you can reach your retirement goals.
1. Not Having A Professional Review Your Plan
If you’re fortunate enough to have plenty of retirement savings and investments, now is the time to futureproof your funds. But that takes time and skills that most don’t have, so the best option is to turn to a professional financial advisor. The hard part is finding the right one.
WiserAdvisor does all that work for you, matching you to the best financial advisor for your specific situation so you get in an expert in the areas you need.
There’s no cost to you and no obligation to hire the advisor, so there’s not much to lose.
2. Not Keeping An Emergency Fund
Common wisdom suggests you should keep three to six months of expenses in an emergency fund. Once you retire, however, you’ll likely want to bump up that amount. Generally speaking, accidents occur more often as you age, whether through accidental falls, reduction in driving abilities, loss of general dexterity or simply through spending more time at home rather than in an office. The best way to plan for emergency expenses in retirement is to build up your nest egg while you’re working, rather than making it a monthly line item in your budget.
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