Retired in America

Your Guide to a Confident Retirement

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

15 Planning Mistakes That Can Hurt Your Retirement

March 10, 2020 · Retirement Life

Cashing Out Your Pension

If your financial advisor recommends you to cash out your pension from your former employer, but if you don’t actually need the money right now, following his advice might not be the best idea. That’s because he will be the one that would benefit the most from this action and make thousands of dollars in commission.

According to the Pension Rights Center, the only time you should consider cashing out a lump-sum from your employer is if you’re ill, your life expectancy is short or you don’t have a surviving spouse who will depend on a lifetime income.

Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

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Your email address will not be published.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

  • Senior woman working on a laptop resting on a lap desk while seated comfortably in an armchair with an ottoman. 11 Side Gigs Perfect for Retirees With Mobility Limitations
  • A woman sits at a wooden table reviewing financial documents and account statements beside a window and bookshelf. 9 Things to Do With Inherited Retirement Accounts
  • Senior couple in a sunlit living room with large windows, one looking outside and one browsing a wooden bookshelf. 8 Reasons Retirees Are Choosing Co-Ops Over Condos
  • A smiling senior vendor weighing produce on a hanging scale for a customer at a sunny outdoor farmers market. 7 Part-Time Jobs at Farmers Markets and Local Fairs for Seniors
  • Mature man reviews Social Security paperwork and a US passport at an outdoor table overlooking a coastal European city. 7 Social Security Rules for People Who Worked Overseas
  • An older woman talks with an adult woman across a sunlit wooden table set with tea and a notepad. 10 Things Retirees Wish Their Kids Knew About Their Finances
  • A senior couple with luggage stands on an outdoor train platform, checking a travel brochure beside a passenger train. 12 Places Where Retirees Can Afford Both Rent and Travel
  • Mature woman sitting thoughtfully at a wooden table with financial papers, an open planner, glasses, and a steaming mug. 7 Retirement Account Rules That Changed Recently
  • Senior couple walking arm in arm along a brick sidewalk past a bakery, bookstore, and cafe table with coffee. 11 Signs You've Chosen the Right Retirement Town
  • Older couple reviewing tax returns and moving paperwork at a table with cardboard boxes stacked behind them. 7 Tax Surprises for Retirees Who Move Across State Lines

Newsletter

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

Related Articles

Should You Retire Abroad?

If you’re planning on retiring but retirement communities are not your go-to destination, living overseas…

Read More →
An active senior woman rides an e-bike through a modern community garden neighborhood during a golden sunset.

9 Lifestyle Trends That Are Making Senior Life Better in 2026

Discover the top 9 lifestyle trends reshaping retirement in 2026, from smart health technology and…

Read More →
A smiling senior woman reaches into a wooden pull-out drawer filled with labeled food jars in a sunlit kitchen.

15 Simple Fixes for Everyday Senior Life

Discover 15 simple fixes for everyday senior life, from fall prevention and arthritis hacks to…

Read More →

5 Ways Medicare Will Change In 2021

Medicare will change some things this year, so if you’re a senior who relies on…

Read More →

10 Best and Worst Things to Do When Looking for a Place to Retire

10. Don’t Think Short-Term Seniors who think about their retirement in the short term might…

Read More →

30 Cities in USA Way Too Expensive for Retirees

Discover why relocating to these 30 expensive U.S. cities can rapidly drain your retirement savings,…

Read More →

The Pandemic Cut Into Your Retirement Savings? Here’s How You Can Recover

Buy off your car and keep using it According to the latest Experian State of…

Read More →
A happy senior couple walks through a sunny town square, symbolizing a comfortable and affordable retirement.

These 23 Budget Cities Help Seniors to Retire With $1500/Month

Discover the 23 most affordable retirement cities in the US where seniors can live comfortably…

Read More →

12 Biggest Retirement Regrets According to Seniors

Discover the 12 biggest retirement regrets reported by seniors, from claiming Social Security early to…

Read More →
Retired in America

Your Guide to a Confident Retirement

Inedit Agency S.R.L.
Bucharest, Romania

contact@retiredinamerica.com

Trust & Legal

About Us

Editorial Policy

Advertiser Disclosure

Frequently Asked Questions

Contact Us

Disclaimer

Terms and Conditions

Privacy Policy

Subscribe

Unsubscribe

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.