If there is one rule more important than any other when it comes to legacy planning, it is this:

Many Americans are forced to file for benefits early for financial reasons, which can cost them dearly in lost income.

Money mistakes are a common learning experience from which we can grow. However, when you’re in retirement, bad decisions can be catastrophic. A retiree’s ability to replenish savings is usually greatly diminished, since they are no longer generating income from a job. Luckily, you can learn from the experiences of others and avoid some of the more common mistakes. 1. Not Changing Lifestyle After Retirement Among the biggest mistakes retirees make is not adjusting their exp