Avoid financial mistakes during retirement

   When you retire, you’ve learned to avoid some mistakes you made earlier in life.
   However, you may still be susceptible to financial missteps specifically related to your retirement years.
   How can you avoid these errors?
   Here are a few suggestions:
   First, choose an appropriate withdrawal rate for your retirement accounts.
   If you take out too much early in your retirement years, you risk running short later on.
   Next, don’t underestimate your health care costs.
   Even with Medicare, you could spend hundreds of thousands of dollars on medical bills during your retirement years, so you’ll need to be prepared.
   Also, try not to take Social Security too early.
   The longer you wait past age 62, the bigger your checks.
   Here’s another tip: Don’t invest so conservatively that your portfolio can’t keep up with inflation.
   Finally, don’t be more generous than you can afford.
   You want to help your adult children and grandchildren as much as possible, but it’s still essential you maintain your financial independence.
   Retirement can be a wonderful time of your life – and you may enjoy it more by doing what you can to avoid costly financial mistakes.
   This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson. Member SIPC.       
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