10 Biggest Mistakes You Can Make Before Retirement
1. Decide to retire on the spur of the moment
because of some difficult assignment or personality clash on the
job.
2. Decide to retire without discussing your plans with your spouse.
You need the emotional support of your spouse when you are making
a decision that will change both of your lives.
3. Fail to review and make sure that you are being credited with
all of the service and other entitlements your federal career
has earned for you.
4. Retire without having something to “retire to,”
as well as to “retire from.” The attraction of your
favorite fishing pond or the old rocking chair grows dull fast
when you have nothing better to do.
5. Retire with the belief that you can live comfortable on your
annuity without realistically comparing the money you will have
coming in with the amount you will need to maintain your standard
of living.
6. Fail to stay abreast of developments and changes in federal
retirement entitlements and trends.
7. Retire without reviewing all of your retirement options and
understanding the pros and cons of each.
8. Base your retirement decision on the advice of coworkers and
friends, rather than consulting the experts.
9. Base your retirement decision on an urge to sell your house
and move to a warmer (or colder) area without first thoroughly
familiarizing yourself with the new location’s amenities
and quality of life. (Multiple visits or a long-term rental can
help ensure that the new area offers the cultural, social and
economic advantages you are seeking.)
10. Succumb to the belief that your active, productive life is
over just because you are retiring.
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