Five Retirement Mistakes People Realize Too Late

• Many postpone retirement planning, losing out on compounding benefits, and realize the urgency in their late 40s.
• A common misconception is that expenses magically fall after retirement; healthcare, insurance, and leisure costs often rise.
• Over-reliance on a single income source like a pension or rental property can be risky if that source fails.
• Playing it too safe by moving all money into ultra-safe options too early can lead to loss of value due to inflation over a long retirement period.
• Underestimating longevity is a significant mistake, as people are living longer, requiring funds to last 20-30 years or more.

Why It Matters: Avoid common retirement planning pitfalls by starting early, diversifying income, and planning for longer lifespans.