Keep your retirement on track by avoiding some common pitfalls.
1. Do not overspend. You will have more time on your hands now that you are not working. You may be tempted to spend more on hobbies, travel, dining out, and other activities. That’s understandable but overspending could deplete your savings quickly. Instead, develop a budget and stick to it. Of course, its fine to allow for some splurging, but be mindful.
2. Deciding to move. Before you make a major move, do some research. Compare local taxes and the typical cost of living with what you are used to paying. Do your homework by utilizing websites such as BestPlaces.net or RetirementLiving.com.