35 Retirement Planning Mistakes That Waste Your Money

Not Knowing How Much You Need to Retire

If you’re nearing retirement, take a look at your current salary, add up your expenses — including medical costs in retirement — and meet with a financial planner to calculate how much you’ll need in order to retire and live comfortably.

If you’re decades away from retirement, come up with a savings rate to determine how much you should deduct from your paycheck each month to put in your retirement savings account.