Kiplinger.com writes that oftentimes financial planners can give poor advice. Here are four areas to watch out for when you get ready to retire:
- Not Giving Social Security Enough Respect
- Ignoring Sequence of Returns Risk
- Not Having a Plan for Future Long-Term Health Care Costs
- Leaving IRA Money to Heirs
With the third point, the U.S. Department of Health and Human Services writes that for adults aged 65 years old, the odds are around 70% that they will require long term care.