Financial Planning

Saving for retirement? Don’t make these eight mistakes

MoneymanagementThrough comprehensive financial literacy efforts and the Feed the Pig campaign, CPAs from coast to coast are preaching the wisdom of saving for retirement and making sound financial decisions.

Just as important, though, is not screwing up.

With that in mind, the Maryland Association of CPAs and the American Institute of CPAs offer these "Eight Retirement Savings Mistakes to Avoid." Steer clear of these missteps and you might just find yourself on easy street.

  1. Not starting early enough.
  2. Poor asset allocation.
  3. Underestimating your life expectancy.
  4. Misjudging your ability to continue working.
  5. Not rolling over your retirement savings when you change jobs.
  6. Borrowing against your retirement fund.
  7. Focusing on your nest egg too much.
  8. Not consulting with a CPA.

Get details on each of these mistakes here, then tell us: What's the best retirement advice you've ever received?


Bill Sheridan