Common Mistakes in Retirement Plans

A new study from Vanguard shows that more people than ever are setting aside money in their retirement accounts at increased levels. The average balance in retirement accounts has gone up by 19% however, retirement planning goes beyond just looking at investment account balances. It is important to consider other factors such as health, taxes, and income strategies. Many people make mistakes in their retirement plans, such as lack of contributions, no tax diversification, no income strategy, and not enough income streams. It is crucial to have a comprehensive retirement plan that goes beyond just having a retirement account.

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