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Some of the universal mistakes include taking on too much risk or withdrawing too much, too soon.
While the Midwest is attractive to retirees for its relative affordability, retiring still requires careful planning.
Its recommended to not change jobs or leave the workforce without fully assessing the options you have available.
South Dakota is a Midwestern state with no personal income tax.
Because the benefits and costs are relative, you shouldnt be complacent with a single plan.
Rather, you will want to reassess your coverage annually.
Moreover, medical bills are some of the largest you might come across.
you’re free to expect to pay well over $100,000 inhealthcare and medical expensesthroughout retirement.
Ensure that the power of attorney is in trustworthy hands and that you have carefully worked out the specifics.
It will make things easier for not only yourself, but also your family.
Do not skimp on an emergency fund, especially when employment for retirement-aged individuals is difficult.
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