Saturday, April 12, 2014
Mistakes are very common when it comes to retirement, and most of them have to do with not planning. Here are seven big mistakes couples tend to make:
- Not talking about expectations in retirement.
- Not knowing how to deal with adult children needing money, especially in blended families.
- Failing to properly calculate the amount of money they need for retirement.
- Not planning for emergencies.
- Not considering the costs of long-term care.
- Allowing only one partner to handle finances.
- Assuming you will have power of attorney just because you’re married.
See Rodney Brooks, Seven Big Mistakes Couples Make in Retirement, USA Today, Apr. 8, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.