Unforced Retirement Errors

This is a news story, published by Yahoo Finance, that relates primarily to Social Security news.

personal finance & financial education news

For more personal finance & financial education news, you can click here:

more personal finance & financial education news

Yahoo Finance news

For more news from Yahoo Finance, you can click here:

more news from Yahoo Finance

About the Otherweb

Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like personal finance & financial education news, you might also like this article about

retirement

. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest retirement benefits news, retirees news, personal finance & financial education news, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!

rewarding retirement

Moneywise

•

Business

Business & Economics

Here are 4 unforced errors Americans often commit that can wreck their retirement — which are you guilty of?

Summary

Nutrition label

57% Informative

The closer you get to retirement the more critical your decisions are — and the more costly are your mistakes.

Here are four unforced errors Americans often commit that can wreck their retirement.

Maintaining risky asset allocation where you put your money during your golden years can have a big impact on your financial health.

Claiming Social Security at the wrong time is another costly mistake.

A retiree who starts receiving Social Security at 62 will see their benefit shrink by as much as 30% from the amount they would get at full retirement age.

Retirees who wait to claim until after full retirement can increase their benefit by 8% a year until age 70 .

Fidelity estimates a 65-year-old retiring in 2024 will spend an average of $ 165,000 on health care and medical expenses in retirement.

VR Score

Informative language

Neutral language

Article tone

informal

Language

English

Language complexity

Offensive language

not offensive