Some pieces of retirement advice are misleading and confusing. Following retirement advice that you don't fully understand or that doesn't have data to back it up can hurt your retirement savings. Here are five ways you can wreck your retirement if you decide to follow such advice.
[See 10 Places to Buy a Retirement Home for Under $100,000.]
Withdraw more money early in your retirement and reduce spending later. It's easy to overspend shortly after you retire on travel, hobbies, and other activities you didn't have time for while working. But if you withdraw too much of your savings early in retirement you may have to reduce your withdrawal rate later. The stock market could rally for multiple years as soon as you call it quits, but the opposite could also be true. If you don't catch a good break, then you will have to reduce your standard of living later on in retirement, which is very hard to do.
5 Surefire Ways to Ruin Your Retirement
