Top 7 Retirement Planning Mistakes To Avoid Before You’re 40
Did you know something as simple as ignoring an inflation rate could cost you thousands by the time you retire? This overlooked mistake is one of the key reasons why many people find themselves ill-prepared financially.
You might think retirement planning is only for those in their 50s. But here’s the kicker: The decisions you make in your 30s can dramatically alter your financial future.
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Most people think they’re on the right track when setting aside 5% of their income for retirement, but studies reveal that’s not nearly enough. Research suggests that without proper adjustments, such as increasing your savings rate closer to 15%, you’re setting yourself up for failure. But that’s not even the wildest part…
Another shocking mistake? Over-reliance on Social Security as a primary source of retirement income. With future uncertainties and policy changes, this gamble can leave you high and dry. Don’t believe it? Just wait until you hear the real numbers from the experts. But what happens next might surprise you more than you thought possible…
So, what are the other critical errors people make before they hit 40? What happens next shocked even the experts…