There was a time when American workers could simply rely on company-run pension plans for their retirement planning. But now that employees have the freedom to call the shots when it comes to saving and investing their own money, things don’t seem that easy.
Most people make a lot of mistakes while preparing for retirement, especially due to the longer life spans. Greater longevity, for instance, seems like a blessing — but it also poses a challenge in terms of making your savings last.
Here are a five money choices retirees made that they often come to regret, and how you and avoid making these same mistakes while planning for your own retirement.