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But thats not always the best way, say some experts.
Here are 11 reasons whyyou might regret slashing your expenses in preparation for retirement.
Tyler Meyer, founder atRetire to Abundance, thinks it can be a recipe for not enjoying yourself.
Neglecting Health and Wellness
Skimping on health-related expenses is never the right move.
Reducing spending on health-related expenses can be risky, shared Meyer.
Maintaining social connections is crucial for mental and emotional health, said Meyer.
He also highlighted the potential missed opportunities.
Unfortunately, that could be a big mistake that Mendenhall warned could lead to suboptimal financial decisions.
Missing Out on Tax Benefits and Passive Income Opportunities
This is a big one.
Saving money and cutting expenses is often a good idea but not always.
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