Retirement Planning: The Hidden Dangers of Delaying Your Financial Future

• Delaying retirement planning in youth leads to missing out on compounding benefits, requiring larger savings later.
• Misconceptions about reduced post-retirement expenses are common; healthcare, travel, and inflation often increase costs.
• Relying on a single income source after retirement is risky; diversification is crucial for financial security.
• Shifting entirely to low-return, safe investments can fail to beat inflation over a 20-30 year retirement period.
• Underestimating longevity risk is a major flaw; improved medical facilities mean longer lives and increased financial needs.

Why It Matters: Early and diversified retirement planning is crucial to avoid financial stress and ensure a secure future.