5 Big Retirement Money Mistakes to Avoid

It’s never too late to start getting smart about money.

(Image credit: Getty Images)

It’s never too late to start getting smart about money.

Maybe you’ve made it this far with few problems … you’ve done pretty well all alone just by winging it. Good for you.

But retirement planning isn’t about the past 30 years of your life — it’s about the next 30. And that’s harder. There are decisions you can’t undo, and mistakes are tougher to recover from when you don’t have a paycheck to back you up.

Here are five big money mistakes people make every day that a comprehensive retirement plan can help you avoid:

Written by Bill Smith (opens in new tab), the host of the television and radio show "Retirement Solutions." Author of "Knock Out Your Retirement Income Worries Forever." He is the CEO of W.A. Smith Financial Group (opens in new tab) and Great Lakes Retirement Inc. His firms specialize in retirement income planning, wealth management, wealth preservation and estate planning.

See also: How Do You Know When You’re Ready to Retire?

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.

Bill Smith, RFC
CEO, W.A. Smith Financial Group

Bill Smith is the host of the television and radio show "Retirement Solutions." Author of "Knock Out Your Retirement Income Worries Forever." He is the CEO of W.A. Smith Financial Group (opens in new tab) and Great Lakes Retirement Inc. His firms specialize in retirement income planning, wealth management, wealth preservation and estate planning.