“Unlocking the Secrets: What Experts Don’t Want You to Know About This Game-Changing Breakthrough!”

While it’s great to plan for part-time work or a side gig, make sure your retirement savings can support you without depending on extra income. That way, if working doesn’t pan out, you’ll still be financially secure.

10. Neglecting Spousal Planning

Retirement planning isn’t just about you—it’s about your spouse, too. Many couples forget to plan together, which can lead to misaligned goals or even financial surprises. For example, one spouse may plan to retire early, while the other expects to work longer.

Make sure you’re on the same page when it comes to retirement goals. Talk openly about your plans for spending, travel, healthcare, and how you’ll manage your savings. This will help ensure a smooth transition into retirement for both of you.

11. Underestimating Longevity

One of the most common retirement mistakes is underestimating how long you’ll actually live. With advances in healthcare, many people are living well into their 80s, 90s, and beyond. While that’s great news, it also means you’ll need to stretch your savings over a longer period than previous generations.

Make sure your retirement plan accounts for the possibility of living 20 or 30 years in retirement. It’s better to be over-prepared than to run out of money in your later years, especially when your ability to work or earn additional income may be limited.

12. Ignoring Long-Term Care Needs

As you age, the possibility of needing long-term care—in a nursing home, assisted living facility, or through in-home care—becomes more likely. Many retirees don’t consider the high cost of long-term care when planning for their future. This can lead to significant financial strain, especially since Medicare doesn’t cover most long-term care services.

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