Generally speaking, retirement planning is a very precise and personal process – meaning that there are just as many things that you could potentially get wrong as there are ones you could get right. If you truly want to make sure you’re able to maintain the lifestyle you’ve always wanted for yourself during your retirement years, there are a few core mistakes you’ll want to avoid.
Avoiding Retirement Planning Mistakes: Breaking Things Down
One of the biggest mistakes that you’ll want to avoid when it comes to retirement planning is also, for many people, the most important part of the process to “get right.” Above all else, NEVER underestimate how much money you’ll actually need once that fateful day on the calendar finally arrives. According to the experts at Forbes, the average person will need between 80% and 90% of their pre-retirement income in retirement, so plan accordingly.
Likewise, don’t over-estimate your ability to continue working even after you’ve retired. You never know when you may have to permanently leave the workforce due to an issue like disability, or because you suddenly have to take care of an elderly parent. These aren’t necessarily the types of things you can predict, but you CAN prepare for them – and you absolutely should.
Finally, one of the biggest mistakes that a person could make when planning for retirement involves NOT taking full advantage of a retirement workshop taking place in your area. A retirement workshop offered by organizations like Fortified Retirement is designed from the ground up to keep you informed – not only of the types of investment and retirement news you’ll need to build and secure your financial future, but also of all the unbiased data you need to make the most proactive and informed decisions possible moving forward.
All told, a retirement workshop is more than just a free resource. It helps you contextualize the process of retirement through your own unique lens, allowing you to see how your specific decisions impact your ability to achieve your long-term goals. Not only will it provide the tools you need to retire in comfort and prosperity, but also the confidence that only comes with knowing that it’s all going to be a lot easier than you initially thought.
If you’d like to find out more information about the common mistakes that people make when planning for retirement, or if you’d like to find out more information about attending a retirement workshop in your area, please don’t delay – contact Fortified Retirement today.