10. Not creating a retirement budget
Did you know that more than 40% of Americans have less than $10,000 saved for retirement? Even if you are comfortable now, you should take into consideration that savings are very important, and you should calculate how long they will last.
You must think about retirement and what your plans are during it. “What will you do?” and “Where will you live?” These are two important questions you need to ask yourself.
You need to retire comfortably and be wise about that.
If you enjoyed reading this article, for some more great advice, we recommend reading: 7 Retirement Destinations Seniors Often Overlook.
Most of your info was helpful, but believing you should retire in California is definitely a Big NO! Everything in California cost triple the amount you pay in most all of the other states. They have ran out of water, traffic is atrocious in most areas, now they are having Blackouts! Please do not encourage anyone to move to California!
What Hogwash about California.
Good Basic overview of retirement issues. While everyone wants to retire early, money and healthcare are the two biggest items that everyone should spend time analyzing before pulling the work plug. After 5 years of retirement, I still maintain a budget that is reviewed periodically to see how well we are doing. As for healthcare the biggest challenge is finding a supplemental plan that will meet your needs and is affordable.
Hopefully there will be a lot more help for retirees due to the rising cost of EVERYTHING. People that have worked ALL of their life and paid taxes deserve a bit more.
This world is controlled and guided by MONEY so if you don’t have any get ready to suffer in more ways than one.
Hurrah!! for all of the past workers of this dying country. In God I trust…..
This is just trying to promote CA. CA is not a good place to live if you work. San Francisco is passing a reparations bill. If you have income, you will be paying people of color $5 million each because “they are oppressed”. A lot of working people will be leaving CA because they do not agree that anyone in the USA deserves a free ride.
An unwanted free boat ride, is what caused many of the inequities that are still present today. Let me give you the same type of ride and we’ll see if your thinking changes.
Stop worrying and pull the plug to the employer. We retired at 59 with zero plans. Got lucky sold our home and was able to purchase another cash. You have to eliminate all debt including housing.