Five retirement planning mistakes that can come back to haunt you

kAmw2==@H66? :D 2 D62D@? 7@C E9:?8D E92E 8@ 3F>A :? E96 ?:89E] w@H6G6C[ :? C6E:C6>6?E A=2??:?8[ E96 D42C:6DE E9:?8D 2C6 FDF2==J BF:6E6Ci 564:D:@?D E92E D66> 36?:8?[ 3FE 42? 92F?E J@F 7@C J62CD] (9:=6 J@F 42? 492?86 5:C64E:@? :? D@>6 42D6D[ @E96C 49@:46D 42?’E 36 62D:=J C6G6CD65] k2 9C67lQ9EEADi^^HHH]E96C6E:C6>6?E8C@FA]4@>^Qm%96 #6E:C6>6?E vC@FAk^2m[ 2 5:G:D:@? @7 k2 9C67lQ9EEADi^^HHH]E96C6E:C6>6?E8C@FA]4@>^Qm(62=E9 t?92?46>6?Ek^2m[ =@@<D 2E 7:G6 k2 9C67lQ9EEADi^^HHH]E96C6E:C6>6?E8C@FA]4@>^762EFC65\2CE:4=6^e\C6E:C6>6?E\>JE9D\6>A=@J66D\?665\E@\<?@HQm4@>>@? >:DE2<6Dk^2m E92E 42? 8:G6 A6@A=6 2 C62= 7C:89E 2D E96J 2AAC@249 C6E:C6>6?E 2?5 @FE=:?6 D@>6 DE6AD E@ 2G@:5 E96>]k^Am

kAm%96 >@DE :>A24E7F= C6E:C6>6?E >:DE2<6D 2C6?’E 2=H2JD 5C2>2E:4] x?DE625[ E96J 42? 36 D:>A=6 564:D:@?D =:<6 C@==:?8 2 c_`W<X :?E@ 2? x#p E@@ 62C=J @C E2<:?8 $@4:2= $64FC:EJ 2E E96 HC@?8 E:>6] %9:D 42? 4=@D6 @77 @AE:@?D A6@A=6 5:5?’E 6G6? <?@H E96J 925] p D9@CE C6G:6H 367@C6 J@F >2<6 2 >@G6 42? 96=A <66A E9@D6 5@@CD @A6?]k^Am

k9bm`] %96 %2I q:== %92E rC66AD &A @? *@Fk^9bm

kAm(9:=6 J@F >2J 6IA64E E@ A2J =6DD E2I 27E6C J@F C6E:C6[ E9:D @7E6? 56A6?5D @? H96C6 J@F 9@=5 J@FC D2G:?8D] %92E’D 3642FD6 H:E95C2H2=D 7C@> EC25:E:@?2= c_`W<X 2?5 x#p 244@F?ED 2C6 E2I65 2D @C5:?2CJ :?4@>6] p55:E:@?2==J[ E9@D6 244@F?ED 2C6 DF3;64E E@ C6BF:C65 >:?:>F> 5:DEC:3FE:@?D W#|sDX[ >2?52E@CJ H:E95C2H2=D E92E 368:? 2E 286 fd :7 J@F H6C6 3@C? :? `he_ @C =2E6C] s6A6?5:?8 @? E96 D:K6 @7 J@FC #|sD[ E9@D6 5:DEC:3FE:@?D 4@F=5 AFD9 J@F :?E@ 2 9:896C E2I 3C24<6E 2?5 A@E6?E:2==J C2:D6 J@FC |65:42C6 AC6>:F>D E9C@F89 k2 9C67lQ9EEADi^^HHH]DD2]8@G^7@C>D^DD2\cc]A57Qm:?4@>6\C6=2E65 DFC492C86Dk^2m]k^Am

kAm$@4:2= $64FC:EJ 42? 255 E@ E96 3:==] x7 2 D:?8=6 7:=6C’D :?4@>6 :D @G6C Sad[___ W@C Sba[___ 7@C E9@D6 7:=:?8 ;@:?E=JX[ FA E@ d_T @7 J@FC k2 9C67lQ9EEADi^^HHH]DD2]8@G^72BD^6?^BF6DE:@?D^zp\_acf`]9E>=Qm$@4:2= $64FC:EJ :?4@>6 H:== 36 :?4=F565 :? J@FC :?4@>6k^2m 2?5 DF3;64E E@ E2I] x7 E92E ?F>36C C:D6D E@ Sbc[___ H96? 7:=:?8 D:?8=J @C Scc[___ 7@C ;@:?E 7:=6CD[ FA E@ gdT @7 J@FC 36?67:ED H:== 36 :?4=F565 :? J@FC E2I23=6 :?4@>6]k^Am

kAm%@ >:E:82E6 E2I6D :? C6E:C6>6?E[ E2I 5:G6CD:7:42E:@? :D <6J] &D:?8 E9:D DEC2E68J[ E96 2:> :D E@ DAC625 J@FC D2G:?8D :?E@ E9C66 5:776C6?E EJA6D @7 244@F?EDik^Am

kF=mk=: 52E2\=:DE\:E6>\:5lQ6h`3b`f`4d`_f465h7fgh6b5`a``ae23_Qm%2I\5676CC65 244@F?ED[ =:<6 EC25:E:@?2= c_`W<XD @C x#pD[ 2==@H J@F E@ 565F4E J@FC 4@?EC:3FE:@?D 3FE 2C6 E2I23=6 @? H:E95C2H2=]k^=:mk=: 52E2\=:DE\:E6>\:5lQ6e2gg55c5ac5cgge6ehgh447g``a55g7cQm%2I23=6 244@F?ED[ =:<6 3C@<6C286 244@F?ED[ :?4=F56 :?G6DE>6?ED @? H9:49 J@F A2J E2I6D 2??F2==J] (96? J@F D6==[ @?=J J@FC 82:?D 2C6 E2I65[ @7E6? 2E =@H6C =@?8\E6C> 42A:E2= 82:?D C2E6D]k^=:mk=: 52E2\=:DE\:E6>\:5lQ6ffe7422dg_b4bce_ceeg2eb`a_2`ec_2Qm%2I\25G2?E2865 244@F?ED[ =:<6 #@E9 244@F?ED[ 2==@H J@F E@ >2<6 27E6C\E2I 4@?EC:3FE:@?D] pD 2 C6DF=E[ BF2=:7:65 H:E95C2H2=D 2C6 E2I\7C66]k^=:mk^F=m

kAm!C@A6C E2I 5:G6CD:7:42E:@? 8:G6D J@F E96 7=6I:3:=:EJ E@ >2?286 J@FC E2I23=6 :?4@>6 :? C6E:C6>6?E] xE’D E9:D 25G2?E286 E92E @7E6? 6?4@FC286D :?G6DE@CD E@ FD6 k2 9C67lQ9EEADi^^HHH]H62=E96?92?46>6?E]4@>^3=@8^4@>>@?\C@E9\4@?G6CD:@?\E2I\BF6DE:@?D\2?DH6C65Qm#@E9 4@?G6CD:@?Dk^2m 27E6C E96J C6E:C6 3FE 367@C6 E96J DE2CE E2<:?8 #|sD]k^Am

k9bma] %96 $@4:2= $64FC:EJ %:>:?8 s64:D:@? %92E u@==@HD *@F 7@C {:76k^9bm

kAm(9:=6 J@F 42? 4=2:> k2 9C67lQ9EEADi^^HHH]E96C6E:C6>6?E8C@FA]4@>^762EFC65\2CE:4=6^c_`<\D@4:2=\D64FC:EJ\A6?D:@?\9@H\E@\>2I:>:K6\J@FC\@AE:@?DQm$@4:2= $64FC:EJ 36?67:EDk^2m 2D 62C=J 2D 286 ea[ E96 286 J@F 49@@D6 56E6C>:?6D E96 D:K6 @7 J@FC >@?E9=J 4964< 7@C E96 C6DE @7 J@FC =:76]k^Am

kAmu@C 2?J@?6 3@C? :? `he_ @C =2E6C[ k2 9C67lQ9EEADi^^HHH]DD2]8@G^36?67:ED^C6E:C6>6?E^A=2??6C^286C65F4E:@?]9E>=Qm7F== C6E:C6>6?E 286 Wu#pXk^2m :D ef[ H9:49 :D H96? J@F 86E J@FC “7F==” 36?67:E] qJ 4=2:>:?8 2E 286 ea[ E92E 36?67:E :D A6C>2?6?E=J C65F465 3J b_T] r@?G6CD6=J[ 7@C 6249 J62C J@F H2:E E@ 4=2:> 36J@?5 u#p[ J@FC 36?67:E 8C@HD 3J gT[ FA E@ 286 f_]k^Am

kAm*6E[ H9:=6 E96 >2E9 :D 4@>A6==:?8[ H2:E:?8 5@6D?’E 2=H2JD >2<6 D6?D6] %@ 56E6C>:?6 E96 36DE E:>6 E@ 4=2:>[ :E’D :>A@CE2?E E@ E2<6 2? 9@?6DE =@@< 2E J@FC 962=E9] x7 J@F 92G6 2 D9@CE6C =:76 6IA64E2?4J[ 4=2:>:?8 62C=:6C 4@F=5 >2<6 D6?D6[ H9:=6 2 72>:=J 9:DE@CJ @7 =@?86G:EJ >2J DFAA@CE 2 564:D:@? E@ H2:E] r@?D:56C J@FC 42D9 7=@H[ E@@] x7 J@F ?665 255:E:@?2= :?4@>6 D@@?6C[ 4=2:>:?8 62C=:6C >2J 36 E96 C:89E 49@:46] p 7:?2?4:2= 25G:D@C 42? 96=A J@F E2<6 2== E96 A@E6?E:2= 4@?D:56C2E:@?D :?E@ 244@F?E]k^Am

k9bmb] %96 w62=E9 r2C6 r@DED {FC<:?8 pC@F?5 E96 r@C?6Ck^9bm

kAmw62=E9 42C6 :D @7E6? 4@?D:56C65 @?6 @7 E96 =2C86DE 2?5 =62DE AC65:4E23=6 4@DED J@F’== 7246 :? C6E:C6>6?E] x? 724E[ E96 k2 9C67lQ9EEADi^^HHH]63C:]@C8^5@4D^5672F=E\D@FC46^A3C:67D^63C:0:30edb0D2G:?8DE2C86ED\d>2Cae]A57nD7GCD?lc65c_da70`Qmt>A=@J66 q6?67:E #6D62C49 x?DE:EFE6 Wtq#xX 6DE:>2E6Dk^2m E92E 2 ed\J62C\@=5 4@FA=6 >2J ?665 E@ D2G6 2D >F49 2D Sc_d[___ E@ 92G6 2 h_T 492?46 @7 4@G6C:?8 E96:C >65:42= 6IA6?5:EFC6D :? C6E:C6>6?E]k^Am

kAm}@E23=J[ E9@D6 6DE:>2E6D 6I4=F56 =@?8\E6C> 42C6[ H9:49 |65:42C6 5@6D?’E A2J 7@C] x? a_ad[ E96 k2 9C67lQ9EEADi^^HHH]42C6D4@FE]4@>^4@DE\@7\42C6Qm?2E:@?2= 2??F2= >65:2? 4@DEk^2m 7@C :?\9@>6 42C6 7C@> 2 ?@?\>65:42= 42C68:G6C H2D Sg_[_g_[ 2? 2DD:DE65 =:G:?8 4@>>F?:EJ 4@DE Sfc[c__[ 2?5 2 D6>:\AC:G2E6 C@@> :? 2 ?FCD:?8 9@>6 H2D S``c[hfd]k^Am

kAmx7 J@F C6E:C6 367@C6 286 ed[ J@F’== 2=D@ ?665 962=E9 4@G6C286 F?E:= k2 9C67lQ9EEADi^^HHH]E96C6E:C6>6?E8C@FA]4@>^762EFC65\2CE:4=6^>65:42C6\A2CE\2\9@DA:E2=\:?DFC2?46\7@C\2EE\6>A=@J66DQm|65:42C6k^2m 368:?D[ H96E96C E9C@F89 r~q#p WH9:49 :D EJA:42==J 2G2:=23=6 7@C FA E@ `g >@?E9DX[ E96 prp >2C<6EA=246[ @C 2 DA@FD6’D 6>A=@J6C A=2?]k^Am

kAm%@ 2G@:5 36:?8 42F89E @77 8F2C5[ :E’D 6DD6?E:2= E@ A=2? 29625] x7 J@F 92G6 2 BF2=:7J:?8 9:89\565F4E:3=6 962=E9 A=2? Wwsw!X[ 4@?D:56C 2 w62=E9 $2G:?8D p44@F?E Ww$pX[ H9:49 2==@HD J@F E@ AFE 2D:56 >@?6J E@ 4@G6C 962=E9 42C6 4@DED] {@?8\E6C> 42C6 :?DFC2?46 42? 2=D@ A=2J 2 C@=6 2?5 :D EJA:42==J 62D:6C E@ BF2=:7J 7@C :? J@FC d_D 2?5 e_D] $6EE:?8 2D:56 2 C6D6CG6 7@C F?6IA64E65 :==?6DD 2=D@ >2<6D D6?D6[ D@ 2 =2C86 >65:42= 3:== H@?’E 7@C46 J@F E@ D6== :?G6DE>6?ED :? 2 5@H? >2C<6E @C E2<6 2 3:8 E2I23=6 H:E95C2H2=]k^Am

k9bmc] %96 c_`W<X #@==@G6C %92E’D |@C6 %C:4< %92? %C62Ek^9bm

kAmpE C6E:C6>6?E[ >2?J C6E:C66D 2=>@DE 2FE@>2E:42==J C@== E96:C c_`W<X :?E@ 2? x#p] w@H6G6C[ E9:D >2J ?@E >2<6 D6?D6 :7 J@F C6E:C6 62C=J] x? 724E[ :7 J@F =62G6 J@FC ;@3 :? @C 27E6C E96 J62C J@F EFC? dd[ E96 k2 9C67lQ9EEADi^^HHH]:CD]8@G^C6E:C6>6?E\A=2?D^A=2?\A2CE:4:A2?E\6>A=@J66^C6E:C6>6?E\E@A:4D\6I46AE:@?D\E@\E2I\@?\62C=J\5:DEC:3FE:@?DQmx#$ #F=6 @7 ddk^2m >2J 2==@H J@F E@ H:E95C2H 7F?5D 7C@> J@FC c_`W<X H:E9@FE A6?2=EJ[ C2E96C E92? H2:E:?8 E@ C6249 E96 DE2?52C5 A6?2=EJ\7C66 286 @7 dh½]k^Am

kAm%96 CF=6 4@G6CD @?=J E96 k2 9C67lQ9EEADi^^HHH]E96C6E:C6>6?E8C@FA]4@>^762EFC65\2CE:4=6^92G6\J@F\=@@<65\2E\J@FC\c_`<\A=2?\C646?E=JQmc_`W<X A=2?k^2m @7 E96 6>A=@J6C J@F ;FDE =67E 2?5 :E’D ?@E 2G2:=23=6 :7 J@F >@G6 J@FC >@?6J :?E@ 2? x#p] q67@C6 DE2CE:?8 2?J C@==@G6C[ 36 DFC6 E@ DA62< H:E9 2 7:?2?4:2= 25G:D@C E@ 7:?5 @FE H96E96C J@F BF2=:7J 7@C E96 #F=6 @7 dd 2?5 :7 :E >2<6D D6?D6 7@C J@FC D:EF2E:@?]k^Am

k9bmd] %96 |:DD:?8 (:E95C2H2= $EC2E68J %92E {625D E@ $=66A=6DD }:89EDk^9bm

kAm~?46 J@F C6E:C6[ 56E6C>:?:?8 9@H >F49 E@ H:E95C2H 7C@> J@FC D2G:?8D 42? 364@>6 2 56=:42E6 32=2?4:?8 24E] (:E95C2H:?8 E@@ >F49 E@@ 62C=J :? C6E:C6>6?E 4@F=5 AFE J@FC D2G:?8D 2E C:D<] $6BF6?46 @7 C6EFC?D C:D< 42? H@CD6? E9:D 6BF2E:@?] x7 E96 >2C<6E 72==D D9@CE=J 27E6C J@F C6E:C6[ J@F >2J 36 7@C465 E@ D6== J@FC :?G6DE>6?ED 2E =@H6C AC:46D[ AFEE:?8 J@FC C6E:C6>6?E DEC2E68J 2E C:D< 2?5 >2<:?8 :E 5:77:4F=E E@ C64@G6C @G6C E:>6]k^Am

kAmp=E9@F89 H:E95C2H2= DEC2E68:6D =:<6 E96 cT CF=6 2C6 ?@E:@?2==J 56D:8?65 E@ >:E:82E6 E9:D C:D<[ E96D6 EC25:E:@?2= 2AAC@2496D D@>6E:>6D 72== D9@CE :? E@52J’D 7:?2?4:2= 6?G:C@?>6?E] %9:D 42==D 7@C >@C6 7=6I:3=6 2AAC@2496D] &D:?8 5J?2>:4 8F2C5C2:=D[ 7@C :?DE2?46[ 2==@HD J@F E@ D6E 2 H:E95C2H2= C2E6 H:E9 FAA6C 2?5 =@H6C =:>:ED[ 6?92?4:?8 J@FC 23:=:EJ E@ >2?286 >2C<6E G@=2E:=:EJ] p?@E96C @AE:@? :D E@ FD6 k2 9C67lQ9EEADi^^HHH]E96C6E:C6>6?E8C@FA]4@>^762EFC65\2CE:4=6^=F>A\DF>\GD\2??F:EJ\2?5\C:D:?8\:?E6C6DE\C2E6DQm2??F:E:6Dk^2m E@ 4@G6C J@FC 7:I65 4@DED[ =62G:?8 J@FC A@CE7@=:@ E@ 7F?5 5:D4C6E:@?2CJ DA6?5:?8]k^Am

kAmz66A :? >:?5[ E@@[ E92E 2? @G6C=J 4@?D6CG2E:G6 A@CE7@=:@ >2J ?@E <66A A246 H:E9 k2 9C67lQ9EEADi^^HHH]E96C6E:C6>6?E8C@FA]4@>^762EFC65\2CE:4=6^9@H\2C6\4@CA@C2E6\6>A=@J66D\:>A24E65\3J\:?7=2E:@?\C:D:?8\:?E6C6DE\C2E6DQm:?7=2E:@?k^2m @G6C 2 =@?8 C6E:C6>6?E] %9:D >2J >2<6 2 42D6 7@C DE2J:?8 :?G6DE65 :? DE@4<D[ 56A6?5:?8 @? J@FC C:D< E@=6C2?46] }@ >2EE6C H9:49 @AE:@? J@F 49@@D6[ E96 <6J :D E@ 56E6C>:?6 9@H E@ D6BF6?46 J@FC H:E95C2H2=D E@ >2<6 DFC6 J@FC >@?6J =2DED E9C@F89@FE J@FC 6?E:C6 C6E:C6>6?E]k^Am

k9bm%2<:?8 E96 $42C6 ~FE @7 #6E:C6>6?Ek^9bm

kAm%96 564:D:@?D J@F >2<6 H96? :E 4@>6D E@ C6E:C6>6?E 2C6 :?E6C4@??64E65] %96 286 2E H9:49 J@F 4=2:> $@4:2= $64FC:EJ 27764ED 9@H >F49 J@F 42? H:E95C2H 7C@> J@FC D2G:?8D] *@FC H:E95C2H2=D 27764E J@FC E2I 3C24<6E[ H9:49 92D 2? :>A24E @? J@FC |65:42C6 AC6>:F>D] %92E’D H9J =@@<:?8 2E E96> 2== E@86E96C >2J 96=A 6?92?46 J@FC C6DF=ED @G6C E:>6 2?5 <66A J@FC @?=J D42C6D E9:D D62D@? 2E J@FC 7C@?E 5@@C]k^Am

kAmk2 9C67lQ9EEADi^^HHH]E96C6E:C6>6?E8C@FA]4@>^3=@8^7:G6\C6E:C6>6?E\A=2??:?8\>:DE2<6D\E92E\42?\4@>6\324<\E@\92F?E\J@FQmk6>m%9:D DE@CJk^6>mk^2mk6>m H2D AC@5F465 3Jk^6>mk2 9C67lQ9EEADi^^HHH]>2826C@]4@>^Qmk6>m k^6>mk^2mk2 9C67lQ9EEADi^^HHH]E96C6E:C6>6?E8C@FA]4@>^Qmk6>m%96 #6E:C6>6?E vC@FAk^6>mk^2mk6>m[ 2 5:G:D:@? @7 k^6>mk2 9C67lQ9EEADi^^HHH]E96C6E:C6>6?E8C@FA]4@>^Qmk6>m(62=E9 t?92?46>6?Ek^6>mk^2mk6>mkDA2? DEJ=6lQE6IE\564@C2E:@?i F?56C=:?6Qm[k^DA2?m 2?5 C6G:6H65 2?5 5:DEC:3FE65 3Jk^6>m k2 9C67lQ9EEADi^^9F3D]=2^"_b<=8$#_Q C6=lQ?@7@==@HQmk6>m$E24<6Ck^6>mk^2mk6>m]k^6>mk^Am