Home News Retirement Planning: 12 Mistakes You’re Making Everyday but Shouldn’t

Retirement Planning: 12 Mistakes You’re Making Everyday but Shouldn’t

Are you really ready for retirement? Your golden years may seem like forever away, so you might not have given it a second thought. However, your retirement is a lot closer than you think. Before you know it, you’ll look up one day and 30 years will have gone by. Don’t be taken off guard.

One way to stay on top of your retirement savings plan is to take a look at your daily habits. Small actions that you don’t pay attention to can add up to big problems years down the line. It pays to take a moment to examine your money management habits now before they get out of hand.

Are you ready to take the reins and get in control of your financial future? Start by minding your habits. Here are 12 daily habits that could be sabotaging your retirement. If you’re young, you might really be guilty of No. 10.

1. Lack of exercise and poor diet

Woman looking at a pink frosted donut

Woman looking at a pink frosted donut That donut looks good now, but it could lead to clogged arteries and heart disease | iStock.com/YakobchukOlena

Not taking care of yourself could cause you to develop a disease that leads to disability, premature death, or both. If you become disabled before you’re ready to retire, this could significantly impact your nest egg. You won’t have nearly enough to be comfortable.

If you think your chances of becoming disabled before you retire are low, think again. The United States Social Security Administration estimates approximately one in four of today’s 20-year-olds will become disabled before they have a chance to retire. Furthermore, more than 50% of those who are disabled are of working age (from 18 to 64 years old), according to the U.S. Census Bureau.

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