Retired in America

Your Guide to a Confident Retirement

  • Home
  • Personal finance
  • Retirement Life
  • Saving & Spending

Are You in Your 50s? Watch Out for These Common Financial Mistakes for Your Age Group

May 6, 2021 · Personal finance

Upgrading Your Lifestyle Too Much

Most people in their 50s are now living through their highest income-earning years of their lives. Now you might feel empowered to upgrade your lifestyle and get your hands on all those things you’ve wished for so far.

And, look, nobody isn’t telling you to not make your dreams come true, but spending erratically without a plan in sight will be your downfall! It’s equally important to keep saving for retirement and other necessities, such as setting money aside for emergencies.

Think about it this way. You might have the money to move into the house of your dreams now. You could spend the better part of your time off vacationing in Europe, Asia or Africa, even. But once you retire, if you don’t have proper savings in place, you’ll definitely see a downgrade in your lifestyle, living only off meager savings and Social Security.

Does that sound like a dream retirement to you?

Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13
«1 2 3 ... 13»

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • 6 Important Changes to Social Security Benefits in 2026
  • How To Pay Your Taxes With Your Credit Card in 2022
  • 8 Ways To Avoid Retirement Poverty
  • 13 States Where Your Freedom Is Respected
  • 18 Places Where Social Security Is More Than Enough
  • 7 Ways To Budget Your Groceries in Retirement
  • 14 Retirement Cities With Awful Weather
  • 11 States With the Best/Worst Social Security Checks in 2022
  • 10 Best Senior Discounts for 2022
  • 12 States That Tax Social Security Benefits

Newsletter

Get retirement planning tips, savings strategies, and lifestyle insights delivered to your inbox.

Related Articles

10 Things to Do for Bigger Social Security Checks

Make sure you’ve worked at least 10 years at an eligible job If you want…

Read More →

9 401(k) Tips to Get More Money in Retirement

No Required Minimum Distributions (RMDs) until age 72 Are required minimum distributions (RDMs) important to…

Read More →

22 Useful Tips to Maximize Your Retirement Benefits

Wait until age 70 Workers can start claiming Social Security benefits as early as age…

Read More →

6 Differing Retirement Goals You Need to Balance Out ASAP

1. Return on investment and inflation Is it wise to simply convert your assets to…

Read More →

21 Ways to Get on Top of Your Retirement Now!

Spend Less Than You Earn Since so many of us have different circumstances, it’s nearly…

Read More →

10 Quick Ways to Earn Some Extra Cash During Retirement

1. House-sitting If you’re retired and don’t know what to do with your spare time…

Read More →

12 States That Tax Social Security Benefits

Colorado For some beneficiaries that are younger than 65, Social Security benefits that are up…

Read More →

10 Social Security Alternatives To Earn More in Retirement

Your personal nest egg – The best thing you can do to supplement your Social Security…

Read More →

10 Most Common Questions About Drafting a Will

What is a will? A will is a legal document that dictates who will manage…

Read More →
Retired in America

Your Guide to a Confident Retirement

Inedit Agency S.R.L.
Bucharest, Romania

contact@retiredinamerica.com

Trust & Legal

  • Home
  • About Us
  • Editorial Policy
  • Advertiser Disclosure
  • FAQ
  • Disclaimer
  • Privacy Policy
  • Terms & Conditions
  • Contact

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.