Ep 16: 5 Easy Ways to Ruin Your Retirement

When you spend a lot of time thinking about how to and when to retire, you don’t want to overlook these easy ways to ruin it! On today’s episode we highlight five ways you could ruin your retirement if you aren’t careful.

The Game Plan

We all like things that are easy, but easier is not always better. These are easy ways to ruin your retirement, something you’d probably rather avoid doing.

For starters, are you looking toward retirement as the destination? In reality, it’s the beginning of a new phase in life. You have to consider the years you’ll have and what that time period will entail.

Instead of all of your problems being solved the moment you retire, you’ll have a different lifestyle. You’ll need to figure out how to spend your time and consider what your budget might look like as it changes. Staying active will help keep you engaged and help you transition into retirement.

While it’s good to keep active, when it comes to your retirement savings, don’t keep pretending like you’re 35 when you’re actually in your 60s! Look more toward preservation in your investment strategy over growth.

How is your retirement plan doing? Listen to the full episode or click on the timestamps below to make sure you avoid ruining your hard-earned retirement.

 

The X’s & O’s

Check out the timestamps below to skip around to specific topics on the show.

[2:45] – What are some easy ways to ruin your retirement?

[3:24] – Treating retirement as a destination instead of a new phase in life.

[5:30] – Thinking retirement solves all your problems.

[7:08] – Assuming you can determine monthly spending habits based on life before retirement.

[9:14] – Doing nothing and losing your sense of purpose and enjoyment through activities.

[13:04] – Investing like you’re 35 when you’re 55 or 60.

[15:10] – Office update: What to expect when working with Dale.

“Retirement definitely has challenges that you probably didn’t even think of when you were working. Just because you’re retired doesn’t mean you’ll suddenly have enough time to do everything you want to do.”

– Dale Tondryk

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Show Host

Dale Tondryk - The Coach

Dale Tondryk is president at Tondryk Wealth Management, LLC. He has more than 30 years of experience in the insurance and annuity industry and holds a Bachelor’s of Science from Southwest Minnesota State University.

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