17 Retirement Mistakes To Avoid at All Costs Story

Here are some of the biggest retirement mistakes that people are making, according to financial experts.

What is most fascinating is that the majority of them have nothing to do with finances, which should be an eye-opener for anyone planning for or nearing retirement.

Treating Your 401K Like a Credit Card

While there are absolutely reasons to take a 401k loan, a huge mistake I’ve seen time and time again is people taking repeated loans against their 401k, essentially treating their retirement account like a credit card.

Not Planning for Health Complications

Maybe you will stay healthy, but having a backup plan for if things go south can help prevent unnecessary pain and stress.

Passing up Free Money in the Form of an Employer Match

If you are not contributing enough to your 401(k) to receive the match, you are just giving up free money.

Thinking Retirement Planning Is Just for Your Finance

They think they'll just stop working and spend all their time on a quasi-vacation playing golf or taking it easy.

Using Retirement Money To Pay For Your Kids' College

If you don't have enough saved in your old age, there's no such thing as a retirement loan! You only get there by investing consistently over time.

Not Understanding the Different Types of Retirement Account

Not having a thoughtful plan about where to put your money between these three buckets can greatly impact retirement.

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