5 Biggest Retirement Mistakes You Will Regret Forever

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In this article, we take a look at the 5 biggest retirement mistakes you will regret forever. If you want to check out our detailed analysis of retirement planning, go directly to 15 Biggest Retirement Mistakes You Will Regret Forever.

5. Not Diversifying The Investments

Not diversifying your investment portfolio is one of the biggest retirement mistakes you will regret forever. Investing a significant portion of your net worth in a single asset can lead to unfavorable consequences. Recent occurrences, such as the decline of the stock market during the 2008 financial crisis and the housing meltdown, leading to a crash in real estate prices, illustrate this risk vividly.

According to Steve Martin, the director at BKD Wealth Advisors in Chicago, diversification should extend beyond investments solely in a 401(k) or home equity. He emphasizes the need to diversify across multiple financial instruments, including life insurance or annuities.

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