5 Toxic Mistakes Preventing You From Retiring Rich

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Hey there, future retiree! Dreaming of sipping margaritas on a white sandy beach, but worried about your bank account balance? You’re not alone.

Many of us make common money missteps that can seriously impact our golden years. From overspending to neglecting investments, these pitfalls can derail your retirement plans.

But fear not! By identifying and avoiding these toxic mistakes, you can set yourself up for a financially secure future.

1. Not being diversified

If a large part of your savings is in the stock market — as it should be — you’re well aware that what goes up can also go down. You can’t control the market, but you can hedge against uncertainty by having other forms of wealth.

One of the best ways to protect your savings is diversification. Keep money in different types of investments, ideally ones that go up when others are going down. For example, stocks tend to do poorly when inflation and interest rates are rising and there’s political turmoil brewing.

But there’s one investment that thrives in this scenario: gold.

Be careful who you deal with, though. Some companies in the gold business are shady and won’t hesitate to sell you gold and silver at vastly inflated prices.

Rosland Capital, on the other hand, has been seen on Fox since 2008 and is recommended by William Devane. They have an A+ rating from the Better Business Bureau and an AAA rating from Business Consumer Alliance. They offer just about everything, from precious-metal IRAs to gold coins and gold bars.

You’ll even receive up to $15,000 in free gold on qualified purchases. If you’ve ever thought about investing in gold, why not take a look?

2. Going it alone

When you get started investing, nothing wrong with doing it on your own. But as your savings grow, so should your approach.

At some point, it makes sense to speak to a professional financial advisor to get expert feedback, create a plan and determine the shortest path to achieving your financial goals.

A Vanguard study found that, on average, a hypothetical $500,000 investment over 25 years would grow to $1.7 million if you manage it yourself, but more than $3.4 million if you work with a financial advisor. That’s twice as much!

If you have over $150,000 in investable assets, Zoe Financial can connect you with rigorously vetted financial advisors. Zoe only works with unbiased, fiduciary advisors who will act in your best interest and offer white-glove service. Best of all, Zoe is a free service and most advisors offer free first appointments.

Get personalized matches tailored to your specific financial situation within minutes, then schedule a free initial consultation with an expert. Nothing to lose, lots to potentially gain.

3. Not protecting your savings

Here’s to hoping your retirement years are active, healthy and vibrant, and that you’re able to function as you always have, right up until the time you shuffle off this mortal coil.

But don’t bet on it. According to the U.S. Department of Health and Human Services, 7 in 10 people who turn 65 today will probably need some kind of long-term care.

“But won’t Medicare take care of all that?” Nope. Medicare doesn’t cover long-term custodial care — and paying for it out of pocket could take a huge chunk of your retirement savings. That, plus inflation, could mean near or total depletion of your nest egg.

Without long-term care insurance, your options aren’t great: running through savings, borrowing money, burdening your family with your care, and possibly losing independence because you can’t live on your own.

One place to find long-term care insurance is GoldenCare. (Unless you live in the four states where GoldenCare doesn’t operate: Alaska, Florida, Hawaii and Washington.)

At least check it out and see if it’s a fit. Because planning now could mean a more secure tomorrow.

4. Failing to safeguard your home

Home repairs aren’t cheap. Whether it’s a leaky roof or a broken appliance, your castle can quickly crumble and cost you hundreds, or even thousands.

Unless, that is, a home warranty company has your back. Example? First American will protect you from giant bills by covering everything from home appliances to electrical, plumbing, heating and cooling systems — even pools and spa equipment.

They also allow you to customize your plan, so you only pay for what you need.

When something goes wrong, just call First American, day or night. The company has a network of pre-screened technicians and typically dispatches an independent contractor within 48 hours.

Hey, if you’re handy and like to repair stuff yourself, that’s obviously the cheapest route. But if that’s not you, a penny spent now could save you big bucks later.

Get your free quote in 30 seconds.

5. Ignoring your health problems

A simple health screening could be worth a lifetime. You see, cardiovascular disease and strokes are two of the leading causes of death in America. And 80% of them are preventable, according to the American Heart Association and the Centers for Disease Control.

There’s someone on your side, too. A company called Life Line Screening is the leading provider of annual screenings for risk of cardiovascular disease, strokes and other chronic diseases. Screenings provide peace of mind or early detection, and both are a good thing.

Getting a screening is convenient and easy. Just go to Life Line Screening’s website and schedule an appointment at one of more than 14,000 locations across the U.S. The screenings are fast, painless and noninvasive. Results are posted in an online portal within a few days.

It’s not just about preventing death, either — it’s about saving money, too. Strokes and cardiovascular disease are two of the leading causes of serious long-term disability, which would cost you a lot of money. Knowledge is power, and early detection enables you to take action before it’s too late. That’s why Life Line Screening has been trusted by more than 10 million customers since 1993.

These screenings are recommended for everyone over 40. If you’ve never gotten one, now’s the time. Schedule an appointment here to get 50% off.

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