Common Mistakes In Retirement Plannings

by | Aug 31, 2020 | Retirement Planning

There are people who truly enjoy what they do for a living and who work, at least on a part-time basis, throughout their life. There are also people in Seneca, SC, who work to be able to afford early retirement, and their goal is to spend time with family, friends, travel, or another area of personal interest.

Consulting With Matt Dixon

Regardless of why an individual wants to retire, working with Matt Dixon, a Registered Financial Consultant, helps to prevent common mistakes that can end up costing money in retirement.

Matt Dixon creates a unique, individualized retirement plan for each client. As no two people are the same, this personalized approach maximizes retirement savings and provides the funds needed for retirement.

Retirement Mistakes to Avoid

The most common mistakes that people who do not work with Seneca, SC, financial advisors for their retirement make include:

  • Dipping into retirement savings – it can be tempting for younger people with years before retirement to dip into their savings. Unfortunately, the tax penalties and the challenges of replacing the money can derail any retirement savings plan, resulting in the need to work longer.
  • Not considering medical expenses – it is essential to plan for medical expenses with the natural aging process. Having an emergency medical fund in place to cover what insurance does not becomes increasingly important as medical costs rise.
  • Claiming Social Security too soon – making the choice of waiting to claim Social Security benefits rather than claiming at 62 has both short and long-term benefits. Waiting even longer, if possible until you are 70, maximizes your retirement credits and your benefits.

If you are planning for your retirement, schedule an appointment with Matt Dixon In Seneca, SC. Knowing your options allows you to determine the best retirement plan for your unique situation.

To learn more about the services offered by Matt Dixon of TruNorth Advisors, visit us online. Details on services and appointment scheduling can be found at website

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