7 retirement mistakes that could cost you BIG

Retirement should be your victory lap.

But for too many people, it feels more like tripping over your shoelaces right before the finish line.

I’ve seen people make costly mistakes that left them working longer, living with regret, or worse—moving in with their kids (which was not in their life plan).

Let’s make sure you don’t end up there.

The 7 Biggest Retirement Mistakes

1. Thinking "I'll Figure It Out Later"

Delaying retirement planning is like waiting until your car is on "E" before looking for a gas station. The later you wait, the more painful (and expensive) the fix.

2. Relying Too Much on Social Security

Social Security was never meant to be your main source of income. It’s more like a side dish—not the whole meal.

3. Thinking You’ll Downsize and Be Fine

Sure, selling your big house sounds smart… until you realize smaller homes aren’t always cheaper. And moving costs way more than you expect.

4. Ignoring Healthcare Costs

Medical bills in retirement can sneak up faster than a kid raiding your fridge. Plan ahead with the right insurance and savings.

5. Keeping Too Much Cash (or Taking on Too Much Risk)

Being too conservative means your money loses value to inflation. But taking too much risk? That’s a rollercoaster ride you don’t want in retirement.

6. Forgetting About Taxes

Without a smart withdrawal plan, you could lose a big chunk of your savings to Uncle Sam. And he’s very good at collecting.

7. Not Having a Real Plan

Retirement isn’t just about the money. What are you retiring to? People who don’t have a plan often end up bored, unfulfilled, and spending more money just to fill the time.

Your Retirement Success Plan

✅ Start planning now. It’s never too late to make smart moves.

✅ Diversify your income streams. Don’t rely on just one source.

✅ Think beyond money. Plan for a purpose-filled retirement.

To Your Success,

‍

Derrick