Many people who are about to retire make one or more easily avoided retirement planning mistakes, which can turn their post-working days into a nail-biting, anxiety ridden, and unhappy time. To help the 76 million baby boomers who are getting ready to take the step into retirement in the next 20 years, Topretirements.com, “Where to Find Your Best Place to Retire”, has just published a list of the 15 most common retirement errors.
Online PR News – 06-April-2010 – – - Madison, CT. Retirement, the fabled “Golden Years”, is supposed to be the sweet dessert to accompany the main course of a life of hard work. But thanks to a deeply distressed economy and other forces, retirement can be a gloomy topic among many baby boomers today. Worse yet, many people who are about to retire make one or more of the most common retirement planning mistakes, which can turn their post-working days into a nail-biting, anxiety ridden, and unhappy time. To help the 76 million baby boomers who are getting ready to step into retirement in the next 20 years, Topretirements.com, “Where to Find Your Best Place to Retire”, has just published a list of the 15 most common retirement mistakes that typically torpedo so many retirements right from the start.
John Brady, President of Topretirements.com, commented about the most common retirement planning errors: “With a little bit of planning and preparation, most retirees can experience the best days of their lives. But far too many people jump off into retirement without taking even the smallest step to prepare. The result is they make mistakes that could easily be avoided. They move to the wrong place, they retire too soon, or they risk boredom and unhappiness by failing to map out a new lifestyle to fill the void created when they can’t go to the office anymore.”
The new article from Topretirements outlines the 15 most common retirement planning mistakes. The hope in publishing this list is that by knowing the pitfalls in advance, more people will avoid falling into them. Here are some of the typical mistakes made by new retirees:
- “I retire in 2 years. Then I’ll think about it.” The problem with this approach is that if they fail to prepare adequately, retirement could turn out to be a boring, unaffordable, and even unhappy experience.
Other common mistakes include…
- Underestimating how much money is needed for a comfortable retirement, including how much health care expenses might increase when they stop working.
- Buying a home in a new community before spending enough time there. By renting or staying for an extended period first, they could have experienced a much more accurate idea of what it is like to live in that community.
- Moving too far away (or too close!) from friends and family.
- Failing to visit enough places before making a decision on where to live.
- Having no interests outside of work.
- Being unprepared for the dynamic inside the home when 2 people are now home full-time.
- Moving to an area that is a bad fit politically, religiously, or socially.
- Failure to examine the financial health and the rules of the Home Owners (Community) Association. For example, they might own a 60 lb. dog, but only 20 pounders are permitted.
- Moving to a gated active adult community and finding they miss the diversity of being around people of all ages and interests.
- Staying too long in their suburban home, trapped with unnecessary expenses and social isolation.
For the full list of the 15 worst retirement mistakes go to: http://www.topretirements.com/tips/General/Worst_Mistakes_You_Can_Make_in_Retirement.html
This popular website publishes objective reviews of over 500 top retirement towns from around the world, as well as more than 800 active adult and 55+ communities. Topretirements publishes 2 free eNewsletters each week with how to features about baby boomer retirement issues and reviews of the best places to retire.