Retirement planning: mistakes to sidestep in your 60s

With people working longer, living longer, and retiring later, financial decisions in your 60s remain crucial.

- Craig Torr

However, this decade offers little room for error. Thoughtful planning is essential to avoid costly mistakes that could impact your retirement security. Be mindful of these common pitfalls to ensure a stable and well-prepared financial future.

Not having a long-term care plan

Many retirees underestimate healthcare costs. Those in their 60s who enjoy good health often overestimate their well-being, failing to prepare for potential medical challenges. Advances in medical science have extended lifespans, often allowing individuals to live with chronic illnesses, yet many retirement plans fail to account for the financial implications.