5 common mistakes before retiring and how to avoid them
SHREVEPORT, La. (KSLA) — Retirement may seem like a long way off for some and in the not-too-distant future for others. Either way, knowing the common pitfalls before you jump into retirement could help you in the long-run.
Colin Evans, of Evans Financial Group, joined KSLA’s Priscilla Borrego in the studios Wednesday, April 4 to highlight five common mistakes and how to avoid making them.
In a nutshell:
- Have a plan. A lot of people spend more time planning their vacation than they do planning their retirement.
- Live under you means.
- Take healthcare into consideration. The general rule is that it will take three years of income to cover your healthcare costs during retirement.
- Take inflation into account.
- Write it down.
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