The Goal of planning for retirement is to actually have money to enjoy a comfortable lifestyle worry free. The more time you are able to spend researching the better you are able to plan for those “Golden Years.”
Cheryl Allebrand makes researching a little easier by pointing out eight mistakes to avoid during retirement planning.
Avoid these 8 mistakes:
1. Managing investments in isolation
2. Putting the wrong investments in taxable vs. tax-deferred accounts
3. Not taking advantage of employer matching contributions
4. Ignoring high fees
5. Not filing IRS Form 8606 with nondeductible IRAs
6. Believing you can't touch the principal in retirement
7. Assuming that using net unrealized appreciation is always the best option
8. Failing to update beneficiaries on your forms
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