Though 2030, baby boomers will be over the age of 65, a perfect time to leave the workforce, settle down and retire. That’s when most experts estimate a majority of people will retire.
Now, in 2020, some 10,000 seniors retire on a daily basis, twice as many as back in 2000.
With such high numbers just around the corner, it’s important to go over a list of often-made retirement mistakes. If you avoid these pitfalls your retirement will be dream-like. If you don’t then you might be looking at decades of financial hardship.
Click though to find out how you can perfect your nest egg before it’s too late!
Failing to Max Out Retirement Funds
If you’ve lost significant investment time by not maxing out your contribution to retirement funds until now, once you reach the age of 50, it’s time to start catching up.
By now you should presumably have a heftier income, and if you budget heavily and make an effort, you should be able to stuff as much money into your accounts as possible- now before it’s too late.
For IRAs, you can deposit an additional $1,000. As for 401(k)s plans, it’s $6,500.
