Five Mistakes High-Net-Worth Individuals Make in Retirement

Just because wealthier people have a lot of money doesn’t mean they don’t make mistakes. Here are five common ones that this financial adviser sees.

A high-net-worth couple look concerned in the back of a limo while he's on the phone.
(Image credit: Getty Images)

Even though you may be a high-net-worth individual, you are still capable of making mistakes in retirement. But these mistakes may be different now that you have more disposable funds.

Below are five common mistakes that I have noticed high-net-worth individuals make in retirement:

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Lane Marmon, JD, MBA
Senior Vice President, Financial Adviser, Wealth Enhancement Group

Before joining the financial services industry as a Senior Vice President at Wealth Enhancement Group, Lane worked as a senior associate for the law firm of Rutkin, Oldham & Griffin, LLC, litigating high net worth dissolution and child custody matters. Her work has been widely recognized and she frequently draws on her extensive experience to write articles and speak at events on legal and financial matters.