{"id":194344,"date":"2025-09-02T14:41:17","date_gmt":"2025-09-02T14:41:17","guid":{"rendered":"https:\/\/www.europesays.com\/us\/194344\/"},"modified":"2025-09-02T14:41:17","modified_gmt":"2025-09-02T14:41:17","slug":"i-help-people-retire-every-day-heres-the-most-common-retirement-mistake-people-make","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/194344\/","title":{"rendered":"I Help People Retire Every Day \u2014 Here\u2019s the Most Common Retirement Mistake People Make"},"content":{"rendered":"\n

Maybe you were an old soul \u2014 or just a smart one \u2014 and you started saving for retirement as soon as you entered the workforce, whether you were making the coffee or picking it up for your boss. Or maybe, after years of grinding it out, you\u2019ve gotten wise to the fact that someday, you\u2019ll want a financially secure life<\/a> in your golden years. So, you learn everything you can about saving for retirement<\/a>, because you\u2019re committed to doing things the right way.<\/p>\n<\/p>\n

Learn More: I\u2019m a Financial Advisor: Here Are the Top 3 Surprises My Clients Face in Retirement<\/a><\/strong><\/p>\n

Find Out: 3 Advanced Investing Moves Experts Use to Minimize Taxes and Help Boost Returns<\/a><\/strong><\/p>\n

Spoiler alert: You won\u2019t get everything right. Nobody does. That\u2019s why experts like Steven Chen<\/a>, financial coach and CEO of Call To Leap<\/a>, are here to help. Chen\u2019s passion for guiding others toward financial independence has helped thousands of people just like you build emergency savings, eliminate high-interest debt and invest strategically \u2014 all essential parts of a secure retirement.<\/p>\n

Chen has encountered his fair share of people making avoidable mistakes when preparing for retirement, and he spoke with GOBankingRates for our Top 100 Money Experts<\/a>\u00a0series. He shared the biggest misstep he sees: not having a clear plan for saving and withdrawing money. Plenty of people skip this crucial step, and it can create unnecessary stress and financial shortfalls down the road. Fortunately, with some care and thoughtfulness, it\u2019s easy to sidestep this common mistake.<\/p>\n

If you were driving somewhere new for the first time, you\u2019d want a map, right? A plan to get where you want to go \u2014 and if it happened to come with the location of every cool diner on the road, even better. Since retirement is one of the most important \u201cdestinations\u201d of your life, it makes sense that you\u2019d want a plan for getting there.<\/p>\n

But Chen says many people don\u2019t have those plans in place for retirement. <\/p>\n

\u201cInstead of mapping out spending, taxes, and healthcare costs, they rely on hope \u2014 and that can drain savings fast,\u201d he said. <\/p>\n

You don\u2019t have to go it alone in building a plan. A financial advisor<\/a> can help you create both short- and long-term savings plans tailored to your income, lifestyle, and goals. Crucially, preparing for retirement involves so much more than just contributing to a 401(k)<\/a> through your employer \u2014 though that is a strong start. (And yes, if your employer offers matching contributions, don\u2019t leave that money on the table.)<\/p>\n

You\u2019ll also want to explore a mix of traditional and Roth IRAs<\/a>, along with other tax-advantaged accounts and investment strategies. <\/p>\n

Story Continues <\/p>\n

\u201cMaking your retirement savings last starts with shifting your mindset from just saving to strategically spending and investing,\u201d Chen said.<\/p>\n

He teaches the people he works with to use a \u201cbucket strategy\u201d that divides your retirement savings into three timelines:<\/p>\n