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Virginia Beach Estate Planning Lawyer / Blog / Retirement Planning / Missteps Can Make Retirement Years Burdensome

Missteps Can Make Retirement Years Burdensome

The old adage that it requires the breaking of eggs to make an omelet is certainly true, but another hard truth is that a comfortable retirement demands that a nest egg be in place.

Retirement savings golden nest egg
Retirement savings golden nest egg (Photo credit: SalFalko)

Unfortunately, a recent story in The Wall Street Journal highlights the missteps people most often make that squanders the funds they planned to lean on in their golden years.

“For most people, retirement savings will need to be carefully tended if they are to last two or three decades, a typical life span after collecting one’s final full-time paycheck,” according to the article by Tom Lauricella. “But there are plenty of mistakes that can be made. Some can deplete that nest egg in one fell swoop, while others can result in a slow bleed that becomes apparent only over time.”

The “Five Really Dumb Money Moves Retirees Make” are:

  • Big purchases
  • No cushion
  • Forgetting common sense
  • Reaching for Yield
  • Letting emotions rule
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