Скачать или смотреть 8 Critical Retirement Planning Mistakes To Avoid

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Not having a cash flow plan: Retirement is all about cash flow not your net worth. Without cash flow you do not have a retirement. It is your income that will determine your lifestyle in retirement. Now that you are retiring what you have accumulated needs to provide for your income needs for the remainder of your life. Spending too much in the early years or experiencing significant losses in the early years could result in you running out of money before you run out of time.

Not having a budget. Many high net worth / high income earners have never lived on a budget. Because their wages are high they have just lived comfortably and been able to save a long the way. When you retire you no longer have earned income. Now what you have saved needs to provide for you. To create a good cash flow plan in retirement you need to have a good handle on how much money you spend every month and year. Underestimating your budget could throw off all of the calculations you make when creating a retirement plan. The more accurate your budget the better your cash flow plan. I've used and recommend mint.com as a tool to help you know where your money is going. When it comes to living on your budget I prefer the old fashioned envelope system. Thomas Jefferson once wrote "a small leak will sink a great ship". Create a budget before your retire and practice sticking to it.

Not maximizing Social Security. For many people Social Security retirement income will represent 40% or more of their guaranteed retirement income. Social Security is tax advantaged income, inflation adjusted and has spousal and survivor benefits that need to be considered. A poor choice when starting social security could result in $100,000 or more of lost benefits and could be the difference between having enough money to last the rest of your life or running out of money too soon.

Having debt: To quote the bible. "The borrower is slave to the lender." If you envision retirement as a time of freedom, travel, spending time with loved ones and service to others than having debt may hinder your dreams and your sense of confidence. I've found the most successful retirees pay cash when buying used cars, pay off credit cards every month and only justify using them at all as a means of accumulating travel rewards, and in the best case situations have paid off their mortgage.