Are you planning and saving for retirement? That's good, but that may not be enough. While taking the initiative to plan for the future and begin saving money to fund your retirement goals is a great start, there are plenty of additional planning items to take note of. Here are six of the most common planning mistakes:
- Not maximizing your employer match.
- Borrowing from your retirement assets.
- Failing to diversify.
- Failing to rebalance your portfolio.
- Taking an early distribution.
- Becoming paralyzed by choices.
As you can see, saving for retirement is a great start, but there are many areas in which you can still make mistakes. Continue reading to learn more about these six retirement planning mistakes and how you can avoid them.