| If you think that you will be financially secure | | | | Instances like divorce or illness can also bargain |
| when you decide to retire just because you | | | | the only spouse retirement, therefore both |
| invest in a retirement plan, think again! Did you | | | | spouses should have a separate retirement plan |
| know that there are common mistakes on | | | | to best secure your retirement days.-Forgetting |
| retirement planning that you should know about in | | | | to review your plan regularly - always conduct |
| which you can also use as a guide to reevaluate | | | | periodic review of your retirement plan to ensure |
| your status? If you are making these mistakes, | | | | that you are making the most of your |
| you could be in a big trouble.Here are some of the | | | | plan.-Practicing poor asset allocation - poor asset |
| mistakes of retirement planning:-Not taking full | | | | allocation can sometimes be a financial suicide. The |
| advantage of your company retirement benefits - | | | | secret is to broaden your horizons so that if one |
| it is wise that you invest money into your | | | | investment decreases in value, another will |
| company retirement plan as much as you can | | | | hopefully increase.-Not checking your booklet |
| afford.-Withdrawing money from your retirement | | | | financial advisor- there are plenty of highly |
| plan - Be very aware when availing of loans or | | | | regarded brokers and financial advisors who have |
| withdrawals, because aside from losing interest, | | | | the expertise about how your portfolio should be |
| you could face penalties or early withdrawal | | | | set-up and maintained, but there are also who |
| fees.-Not actively monitoring your investments - it | | | | aren't and are simply ill informed. So, be aware |
| is extremely important to keep track of your | | | | and make sure to check up on credential and |
| investments in order for you to be aware of any | | | | track records on anyone you wan to entrust |
| discrepancies.-Relying on Social security for your | | | | your retirement savings.-Relying too heavily on |
| retirement income - social security may provide a | | | | your stock - your company stock is one of the |
| considerable share of your retirement income, still | | | | excellent ways to save for your retirement. But, |
| it can be of great help if you have other means | | | | it is also best to have a good investment mix in |
| of income as a back-up in case there are other | | | | your retirement account.-Not taking retirement |
| unexpected expenses that might come up. In | | | | planning seriously - this could be the worse |
| addition to social security, it would be best if you | | | | mistake you can make with your retirement plan. |
| have a company pension or retirement plan and | | | | If you start early on retirement planning, you |
| personal savings.-Relying on your spouse's | | | | may be able to retire early and keep the lifestyle |
| retirement plan - this is one of the most common | | | | you like once retired.Milos Pesic is a successful |
| mistake of retirement planning people do. It is | | | | webmaster and owner of popular and |
| possible that a spouse with a retirement plan | | | | comprehensive Retirement |
| could die leaving the other spouse with no income. | | | | information site. |