From Yahoo Finance: 2025-04-29 07:05:00

Many boomers are at risk of financial insecurity in retirement due to common money mistakes. One major error is not withdrawing from IRAs during low tax years, which can lead to increased tax liability as retirees age. Waiting to withdraw from IRAs until claiming Social Security benefits can also result in higher taxes. Inflation and thinking there are no options if retirement savings are insufficient are other pitfalls. To avoid these mistakes, retirees can work longer, increase savings, and seek advice from advisors to create holistic retirement plans. Investing in income-generating assets is also crucial for financial security in retirement.



Read more at Yahoo Finance: 6 Cash Flow Mistakes Boomers Are Making With Retirement Savings