Keep your retirement planning efforts on track by avoiding these setbacks.
- Listening to the wrong people.
- Not understanding the tax consequences for investments, IRAs, pensions and other retirement products.
- Choosing the wrong pension option.
- Misunderstanding what Medicare and Social Security do and do not pay for.
- Getting caught by the 20 percent withholding penalty for lump sum distributions.
- Owning your assets the wrong way.
- Thinking "risk" just involves losing principal.
- Paying for the wrong kinds and wrong amounts of insurance.
- Planning for your retirement when you are already retired.
- Not doing consistent, careful, ongoing planning.
Have questions about retirement planning? Contact us.