6 Financial Regrets Retirees Face — and How to Avoid Them
More on Retirement from Marc It’s not uncommon to have financial regrets, from spending too much on an impulse buy to not saving enough for vacation. But when it comes to retirement planning, mistakes can be especially costly. Here are six regrets you’ll want to avoid as you save for your golden years. It's never too late to start saving money and building your nest egg, but starting earlier will give you an advantage. The best time to start is right now, even if retirement is decades away. It’s easy to disregard the need to save when you’re in your 20s and 30s and have ample working years ahead of you, but those are some of the most critical years to compound your wealth. You can take out Social Security when you turn age 62, but your payments will be reduced compared to if you wait. Tapping Social Security as soon as you can may help cover costs in the short-term, but it may not make…