Thorough, well-executed retirement planning can make your later years truly golden. But planning is a complex process fraught with pitfalls that may diminish the quality of your retirement. Common mistakes affect far too many people. Here are four mistakes we see all too often. MISTAKE 1: THINKING YOU HAVE PLENTY OF TIME Procrastination is the biggest retirement planning mistake. The earlier you begin saving, the more time your money has to accrue interest. Even small amounts can grow to huge sums as they spend decades in retirement accounts. Set your goals early and start working toward them as quickly as possible. You don’t want to scramble during the last few years of your career. MISTAKE 2: FAILING TO PLAN FOR HEALTH CARE COSTS When you’re young, you feel invincible. Nobody wants to consider the deterioration of health that comes with age. If you don’t account for this, though, you will end up in a pickle. Don’t rely on Medicare or Medicaid alone. Even if you have great insurance and low costs now, the future isn’t guaranteed. MISTAKE 3: FAILING TO PLAN FOR LONG-TERM CARE Simply put, long-term care is expensive. The cost of assisted living or a nursing home can easily reach into the tens of thousands, rapidly exhausting your Retirement Planning Pitfalls 4 Common Mistakes and How to Avoid Them
retirement savings. By taking into consideration the rising cost of long-term care, you can protect both savings and assets from disappearing in the event that you need assistance. MISTAKE 4: FAILING TO UPDATE YOUR RETIREMENT PLAN Even the best plans can’t account for the biggest of all variables: time. You shouldn’t make a plan once and then consider it foolproof for the coming decades. Instead, you should sit down with an expert every year to review if your needs have changed and how your planning should change accordingly. Cost of living fluctuates, and if you treat planning as a one-and-done exercise, you could be in for a nasty surprise.
PALEO AVOCADO TUNA SALAD Chris’ Paleo Corner:
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A Great, Quick, Easy, and Healthy Snack or Lunch Total Time: 5 minutes Servings: 1–2
• 1 avocado • 1 lemon, juiced to taste • 1 tablespoon chopped onion to taste
• 5 ounces cooked or canned wild tuna • Sea salt to taste • Freshly ground pepper to taste
1. Cut the avocado in half and scoop the middle of both avocado halves into a bowl, leaving a shell of avocado flesh about ¼ inch thick on each half. 2. Add lemon juice and onion to the avocado in the bowl and mash
together. Add tuna, salt, and pepper, and stir to combine. Taste and adjust if needed. 3. Fill avocado shells with tuna salad and serve.
(Recipe from cookeatpaleo.com/paleo-avocado-tuna-salad.)
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