Biggest Mistakes Retirees Make

Retirement is supposed to be time for relaxation and enjoyment. But getting there takes time and preparation. It is sad that there are quite a lot of retirees who may have committed certain mistakes that somehow made their retirement quite difficult instead. Here are some of the biggest money mistakes most retirees make.

Retiring Without Preparing

A lot of people seem to put off preparing for their retirement until it is too late. This leads them to lose valuable time and end up retiring without enough funds to depend on during their retirement. Saving up a retirement fund early, no matter how small an amount, is better than not having anything saved up for the golden years ahead.

Spending Too Much Inactive Time

Many retirees aim to enjoy their retirement years. But they might need to do more than just sitting at home to enjoy it longer. Spending retirement just sitting at home can lower a retiree’s life expectancy, according to a Dutch study. Retirees should try to stay active in one way or another if they wish to enjoy a longer retirement age.

Not Directly Managing Retirement Funds

Retirees wouldn’t want to worry and instead want to enjoy more of life. But not trying to look over their retirement funds personally can be a mistake. Many retirees seem to be too trusting of former employers or a bank to handle the money matters for them. Not all of them can be honest all of the time. Retirees can make a costly mistake this way by being too dependent on third parties to manage their retirement fund.

 

Posted by Ardent Editor on Jan 20 2011 in Retirement Life Tags: , , , ,

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