Avoid These 5 Common Retirement Mistakes

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In this video, Liz breaks down 5 common mistakes that she sees people make when they’re on the verge of retirement, and what to do instead. These aren’t things you want to leave to chance, as they can significantly affect your income, tax exposure, and healthcare costs in retirement. They’re easy to overlook, but too important to ignore.

Liz highlights how underestimating your lifespan can lead to outliving your savings, why timing your Social Security benefits matters more than you think, and how failing to adjust your portfolio for income needs can expose you to unnecessary risk. Are you getting ready to pull the retirement trigger? Before you do, make sure you’re not walking into one of these 5 costly mistakes.

Here’s some of what we discuss in today’s show:

Why many people misjudge how long their retirement will actually last
How much the average couple pays in healthcare over their retirement
Finding the optimal time to take Social Security for your situation
How an inefficient withdrawal strategy could lead to higher taxes and healthcare premiums

Resources for this episode:

0:00 – Intro
0:25 – Mistake #1
1:05 – Mistake #2
2:07 – Mistake #3
3:02 – Mistake #4
4:50 – Mistake #5

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