The Retirement Mistakes That Cost People the Most and How to Avoid Them
When I talk to people approaching retirement, one theme comes up again and again: anxiety. Not because they aren’t saving, but because they worry about making a mistake they can’t undo. The closer retirement gets, the louder those fears become and the more important it is to understand the pitfalls that can derail an otherwise comfortable future.
One of the biggest mistakes is entering retirement without a clear vision of what the next chapter should look like. Too many people plan only for the finances and forget to plan for the life they want to live. Without knowing what brings joy, purpose, and fulfillment, retirement can drift into dissatisfaction even when the money is there.
Health is another area people underestimate. Retirement is built on the balance between health, wealth, and time. If one is missing, the other two lose their meaning. I’ve seen many people sacrifice health in pursuit of more wealth, only to discover that the lifestyle they dreamed of requires the energy they no longer have. Protecting health early is one of the best long-term retirement decisions anyone can make.
Financial planning is where most people feel overwhelmed, and that overwhelm often leads to avoidance. Hoping that a larger portfolio balance alone will guarantee security is a common misconception. What actually provides confidence is a plan — a roadmap that connects where you are today to where you want to be tomorrow. A plan removes guesswork and replaces fear with clarity.
Another mistake is trying to navigate retirement alone. The process is complex, and pretending otherwise doesn’t make it easier. Asking for help is one of the smartest moves anyone can make. Whether it’s a professional planner or someone who has already walked this path, the right guidance can prevent costly errors and highlight opportunities you may not see on your own.
Retirement isn’t just something that happens when you stop working. It’s something you build. And the more intentional you are about your lifestyle, your health, your finances, and your support system the greater the chances that retirement becomes not just manageable, but meaningful.
You should always consult a financial, tax, or legal professional familiar about your unique circumstances before making any financial decisions. This material is intended for educational purposes only. Nothing in this material constitutes a solicitation for the sale or purchase of any securities. Any mentioned rates of return are historical or hypothetical in nature and are not a guarantee of future returns.
Past performance does not guarantee future performance. Future returns may be lower or higher. Investments involve risk. Investment values will fluctuate with market conditions, and security positions, when sold, may be worth less or more than their original cost.
