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Maybe you’ve begun your life as a happy retiree already, or maybe you’re still in the workforce, plugging away, punching the clock every morning and looking forward to years of relaxation. Well, retirement years can be a great time for relaxation and leisure, but it can also be very easy to mess up. Avoid these 5 easy to make mistakes, and make sure that your retirement goes the way you’ve always dreamed.

1. Bowing Out Too Early
   Early retirement is the dream scenario for many workers who’ve been laboring for decades, but it is not the most prudent decision to make for your future. Social Security benefits, for example, increase by a significant percentage for every year you wait in claiming them. Spending a couple of extra years in the workforce could mean lots of additional security in your retirement years. Likewise, if you withdraw early from a 401k, you will find yourself subject to taxation and penalties.
2. Lack of Planning
   One of the greatest potential downfalls of retirement is inadequate planning. You may think you’ve got things figured out for your retirement years, but consider the fact that lots of seniors today are living longer than they thought they would. This shouldn’t alarm you, of course-you should be rejoicing! You are more than likely going to have plenty of years to enjoy your retirement, but those years are only going to be enjoyable if you plan for them. Make sure you have enough money in your accounts for a comfortable life.
3. Retiring with Debt
   You’ve spent years working and paying off debts without rest. Retirement is supposed be the time when you reap the rewards of your hard labor, not a time when you keep sending checks of to a handful of creditors every month. Retiring with debt is going to diminish your funds quicker than you’d expect, and it will keep you living under stress in your later years. Try to clear up outstanding debts before you go into retirement so that you can avoid messing up your plans.
4. Living Too Large
   You may be tempted to go out and live it up now that you’re finished with work for good, but don’t get too carried away. Many seniors spend their first couple of retirement years letting the money flow out of their accounts like water. Now it’s okay to celebrate a little at the start, but you don’t want to get into the habit of withdrawing too much of your retirement money every year. Continued over-spending will sap your funds quicker than you can imagine.
5. Underestimating Healthcare Costs
   When planning for retirement, many seniors fail to take into account the healthcare and medical expenses that will arise. Depending on what sort of coverage you are eligible for, you may want to look into websites like www.cheapinsurance.com for affordable healthcare coverage. Many seniors are covered by programs like Medicare and Medicaid, but others find themselves in need of additional coverage. Be sure to plan for this possibility.