Now is finally the time to celebrate after all those years of carefully spending, saving, and working for your retirement funds. But make sure you don’t get too giddy about it, as there are still many obstacles you have to avoid financially.

For instance, you might be tempted to throw money at your adult children, as many loving parents do. But it would be an awful mistake. While you’ve earned the right to spend your hard-earned finances, some decisions still need to be carefully thought out in advance. Here are some of the worst mistakes you should avoid making: