These Retirement Planning Mistakes Could Leave You in a Serious Financial Bind
We're all told about the importance of planning for retirement, but sometimes, we do it wrong. These mistakes in the course of your planning could leave you seriously cash-strapped once your senior years roll around.
During your working years, you get used to living on a certain salary. Once you retire, you'll probably live on less -- but how much less can you get away with?
A lot of people mistakenly think they'll get by on half of their former income, but your living costs may not drop all that drastically once your career comes to an end. Even if you manage to pay off your mortgage in time for retirement and are able to shrink your transportation costs by virtue of not having to commute, that still won't necessarily take you down to 50% of your former spending.
Source Fool.com
