Retirees should avoid bringing assets that could become liabilities into retirement, like high-fee investments. Investment fees, even seemingly small, can add up to significant losses over time. Choosing lower-cost options, like S&P 500 index ETFs, can help minimize expenses and maximize returns.

Another asset to avoid in retirement is buying a brand-new car, as it loses significant value in the first few years. Retirees can save money by purchasing a slightly used car that is still in great condition and has remaining warranty coverage. This can help sidestep depreciation while still driving a reliable vehicle.

Timeshare scams are prevalent and target retirees seeking cost-effective vacation options. Purchasing a timeshare can lead to financial burdens, as exiting the contract usually results in a loss. Maintenance fees can be high, and many contracts are non-cancelable, making it difficult to get out without incurring ongoing costs and legal issues.

Read more at Yahoo Finance: 3 Assets Retirees Should Ditch Before They Drain Their Savings