Retirement Planning

Don’t Retire With Regrets

Retirement planning can be difficult. With so many possibilities it's easy to make a few mistakes along the way. Work with a professional to ensure you are maximizing your retirement planning strategy.

Avoid These 3 Potential Retirement Missteps

Could have, would have, and should have. Nobody likes to look back on anything with regrets - especially when it comes to saving for a comfortable life after work. The following are three potential retirement missteps and how to avoid them when it comes to retirement planning.

1. Not saving early & not saving enough.

It's been drilled in our heads nearly all of our lives to save as much as we can for retirement and to start as early as possible. Saving for retirement when you're younger, means your savings will work harder for you over time, giving you decades of compound interest-earning power versus just a few years.

2. Not diversifying.

This can be an off-putting word to some who simply wants to save more for retirement. But diversifying isn't just for people with a big bankroll and money to invest in the market. In fact, diversifying can benefit us regular folks by allowing our savings ( 401k's and other retirement savings accounts) to work harder and better temper the market's ups and downs. If you're unsure how to set up your retirement accounts for success on your own, consult with a qualified financial advisor who can help you spread your contributions across a broad array of savings vehicles according to your objectives and retirement goals.

3. Getting the right financial advice.

If you're feeling overwhelmed about your retirement choices or feeling anxious as to whether or not you'll have enough retirement income to last you for the rest of your life, seek the help of a qualified financial advisor. Don't think that you need to have a large amount of assets to get the help you need. In fact, today, many advisors specialize in retirement planning and can help you with everything from identifying gaps in your retirement plan to reducing your taxable income in retirement.

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All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and is meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective Life or its subsidiaries.

Learning Center articles may describe services and financial products not offered by Protective Life or its subsidiaries. Descriptions of financial products contained in Learning Center articles are not intended to represent those offered by Protective Life or its subsidiaries.

Neither Protective Life nor its representatives offer legal or tax advice. We encourage you to consult with your financial adviser and legal or tax adviser regarding your individual situations before making investment, social security, retirement planning, and tax‐related decisions. For information about Protective Life and its products and services, visit www.protective.com.

Companies and organizations linked from Learning Center articles have no affiliation with Protective Life or its subsidiaries.

Potential Retirement Planning Missteps

Planning and saving for retirement is vital to your future. It's important to be sure you the decision you are making are right for you. Work hard to avoid making choices you may later regret. For more information, visit the Protective Life Learning Center.

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