Life Insurance Quotes

Retirement pitfalls to avoid

06/28/11

While a growing number of Americans are expressing concern over their retirement futures, experts recommend avoiding some common mistakes. One of the biggest setbacks that people face when saving for retirement is procrastinating. Making excuses for not saving such as being too busy with career or thinking a person is too young, can result in years of wasted savings time, according to Canada's Times and Transcript.

If a company offers their employees a matching retirement plan it is as if individuals are leaving free money or the table if they do not take part in the program. Diversifying investment accounts can help produce positive returns. Many 401(k) plans will contain a good mix of bonds and equities, AOL reports.

"A nice array of funds will really help with volatility and overall performance," Pamela Hess, director of retirement research at Hewitt Associates, told the media outlet.

Parents may also be more likely to spend money on helping their children pay for college or a wedding, instead of putting it into annuities or other investments that can help make a sound retirement future. While this may feel noble, it could also lead to a depe
ndence on their children later in life.
 

Talk to an Advisor

A licensed insurance advisor can explain your options and help you choose the right life insurance for your needs.

Call: 1-800-823-4852

Chat: Live Advisor Chat

Sm

A few of the carriers we quote