Retiring comfortably is more than just having enough money saved. You also need to make sure you\u2019re not carrying financial loose ends into your golden years.<\/p>\n
Even small oversights can snowball into costly problems<\/a> when you\u2019re no longer earning a regular paycheck. Here are the most common loose ends and how to fix them before they cost you in retirement<\/a>, according to experts.<\/p>\n Retiring with high-interest debt like credit cards and personal loans can cripple you financially. Even a mortgage or car payment can create financial strain. When you\u2019re living on a fixed income<\/a>, every dollar that goes toward debt payment is a dollar you won\u2019t get back.<\/p>\n \u201cRetiring with debt is dangerous. As you shift to a fixed income, you need to be debt-free,\u201d said Jay Zigmont, founder of Childfree Trust<\/a>. \u201cYou won\u2019t have overtime and bonuses to help you chip away at your debt in retirement.\u201d<\/p>\n Be Aware: Here\u2019s What Retirees Wasted the Most Money On in 2025 \u2014 and How To Avoid It in 2026<\/a><\/strong><\/p>\n Find Out: 5 Clever Ways Retirees Are Earning Up To $1K per Month From Home<\/a><\/strong><\/p>\n One of the biggest expenses retirees underestimate is long-term care. And it\u2019s not optional. Nearly 70% of older adults, aged 65 and above, will need some form of long-term care, according to the U.S. Department of Health and Human Services<\/a>.<\/p>\n \u201cYou need a plan for long-term care before you retire,\u201d Zigmont warns. \u201cMedicare does not cover long-term care, and it is the largest single expense you will have in retirement.\u201d<\/p>\n Your retirement income might come from 401(k) plans<\/a>, Roth IRAs, brokerage accounts, pensions, or Social Security. Each has different tax rules. Without a plan, you could end up with an unnecessary tax burden.<\/p>\n \u201cYou need a tax plan before retiring,\u201d insisted Zigmont. \u201cInvesting is relatively simple, but tax planning can be a challenge. You need to know which funds you are going to get access to, and when, in order to lower your total tax burden.\u201d<\/p>\n Keeping thousands of dollars at home might feel safe, but idle cash is losing value every single day.<\/p>\n \u201cInflation will erode the purchasing power of that cash over time,\u201d said Tom Betros, wealth advisor at D\u2019Arcangelo Financial Advisors<\/a>. \u201cAlthough it may be safe, it\u2019s best to earn interest via a high-yield savings account or other interest-bearing vehicle.\u201d<\/p>\n