Chapter 17
Top Ten Retirement Mistakes
IN THIS CHAPTER
Discovering the foibles that can scuttle retirement plans
Learning from others’ mistakes
Finding ways to improve your plan
Building a comfortable retirement is up to you. If you follow sound rules by saving as much as you can and maxing out your retirement accounts, your golden years will likely be pleasant.
However, many perils can stand between you and a successful retirement. Some of these easily avoidable mistakes can severely injure your plans, resulting in the need to work longer than you expected or spend less than you’d hoped.
Waiting to Save
You might think that your earning potential is infinite and you can worry about retirement savings later. But time is an investor's top ally. If you start saving early, you will amass more than a person who saves much more but later in life.
Make life easy for yourself: Start saving now.
You should save at least 15 percent of your income as soon as you can. Make your savings plan automatic by having the money taken out of your paycheck.
The sooner you get used to living on 85 ...
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