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Failure to save enough or failure to plan ahead are two of the biggest mistakes that retirees have.
Corgiat explained some ways to transition into retirement if you find you havent saved enough.
Also seethe five fastest ways to save for retirement, according to experts.
Do you want to travel?
Do you want to buy an RV and drive all over the country?
Do you want to pay for your grandkids college?
Now its a lot less expensive and they get to travel at the same time.
They just take their house with them, Corgiat said.
Max Out Retirement Accounts
If youre still working, double-check youre maxing out your retirement accounts.
Look at what opportunities youve got while you still have time, Corgiat said.
ensure youre at least taking advantage of your employers matching contributions and any profit sharing contributions that they make.
Pursue putting as much money into IRAs and/or Roth IRAs as well.
Doing so will boost your retirement savings and the income you have in retirement.
With equity investments in general, historically theyve done a lot better thanfixed income investments.
The more volatility youre willing to accept, the better off you will be, Corgiat said.
Waiting until just 65 or 67 is going to provide you with a larger Social Security benefit.
Just [slow] down if thats an option for you, he said.
You could even transition to aless demanding job, if thats possible.
That way, youll still have income coming in while also cutting back on your work responsibilities.
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