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For some, this can seem like a good time to turn the focus away frombuilding more wealth.
On the contrary, actions like stopping investing all together can seriously hurt your financial future.
A smarter approach balances liquidity with growth through diversified investments.
Underestimating Tax Requirements
Stroup said another mistake retirees make is underestimating taxes in retirement.
He said too many retirees ignore how required minimum distributions, Social Security and investment income interact.
Strategic tax planning can help stretch your nest egg further andreduce future tax burdens, Stroup noted.
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