You can stop worrying about money, gain confidence and financial freedom, secure your lifestyle and retire happy with dignity and grace. Sound impossible? It’s not.
But many Americans believe retirement is beyond their reach. According to a recent poll from The Associated Press-NORC Center for Public Affairs Research, roughly a quarter of Americans say they never plan to retire. And roughly a quarter more say they plan to work past their sixty-fifth birthday.
The numbers are stark evidence that Americans worry about their retirement. Too many believe they must downsize their lifestyle in retirement. Or they feel forced to settle for less, in their working years and in retirement.
And they’re not wrong. Even after decades of hard work, even if it appears they “have enough on paper,” so many successful savers run out of money.
Saving and growing your money is more complicated and nerve-wracking than ever. But you must get it right. The margin for error is small when there are no take-backs, do-overs, or reset buttons. Mistakes in your personal finances are costly. Most people can only afford to retire once.
We’ve uncovered seven of the most common money mistakes. These are the costliest mistakes we see our clients making over and over.
Most people can correct these mistakes. Most people don’t have to settle. They could be truly happy. But first, they have to know what the mistakes are. Then, they can take action to eliminate the mistakes and get on the right track towards a happier financial future.
This is the first post in a series that will show you the seven common money mistakes and ten things you absolutely should be doing.
Each post will dive into one of these mistakes or beliefs. We’ve also put together a free download with all of them together if you want to grab it here.
In our next post in the series, we're going to talk about that ulcer too many people are giving themselves. You can catch that post here: Mistake #1: Living Stressed Out.