10 worst moves for near-retirees

To err is human, but smart savers can limit the damage by avoiding these common money blunders as they approach retirement.

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73Comments
Jul 20, 2013 8:30AM
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Retire if you can but don't expect the government to help you out . They can't even balance a budget.  Why would the American people expect there to be retirement fund left to draw off of. I know it is hard and the economy sucks but everyone still buys the cheapest foreign made products available . This country was known for it's American know how and adaptability. If you can't find what your looking for made in the USA then get creative and make it yourself.

     ALSO at the end of the week pay yourself first 10% of your earnings. After all you are the one that got up and went to work not the government officials running this country.

      One more thing. If you don't like the way the government is handling things run for office. your background might not be the cleanest but take a good look at the officials running this country.

Jul 20, 2013 6:59AM
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From Job number 1.  Live on half your income and save the other half for your entire life.  Stay out of debt.  Goal.  Own home, cars, antiques free and clear.  Invest in your employment stock, a hobby that makes money.  Save save save.  Savings is your freedom to retire.

Jul 20, 2013 6:49AM
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Might be useful to those who are retiring wealthy. For those of us whose 401K took a major hit when the  market crashed and still hasn't totally recovered, and for whom Social Security will be the major source of retirement income, totally useless.
Jul 20, 2013 9:02AM
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Worthless article that really Illustrates how complicated life has become.
Jul 20, 2013 9:13AM
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Life is making mistakes and learning from it!  A stupid person keeps making the same mistake.  Live within your means.  Be creative and save at least 10% of your income early on.  What financial advisor can not agree with that?

 

Jul 20, 2013 4:00AM
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One of the worst articles I've read about this subject ever.
Jul 20, 2013 10:20AM
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what savings! they let corporations ship all the job overseas and broke up all the unions then raised the price of ins. gas, food, and taxes to pay for all the poor freeloaders! and don't forget all the raises the government workers senators and teachers get every year. my whole savings is in a coffee can and it rattles when you shake it.
Jul 20, 2013 8:26AM
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And----Who is advertising here? (Greedy "investment training" here) I mean if it was not for investing in 401 and other retirement funds I would actually have had about 2.5 times more in my account counting the last 14 Years---

And as far as Medicare/SS, I and my employer (mostly me) paid 1.260.000 Dollars for those two items adjusted for inflation and paid  Fed interest rate charged to banks, the Feds loaning the banks my money--So why on earth should I worry--or is this country actually really like Greece or Portugal---The answer is close being Yes. Regular people are the ones shouldering the Bushy fiascoes/rip offs.

And I now am forced to pay 1500 Dollars a year in "Medicare" ins, even though I paid a fortune already and never collected a dime (no, not even one penny). 

PS the 1500 is about the amounts they are going to charge individuals for Obamas care--so did I really enjoy the moon rockets that much? (my money stolen paid for it, me being forced to pay under threat  of jail?--No I did not enjoy those rockets and I am a major scientist.

I also paid just about 1 million Dollars in life medical insurance--and I have collected in my entire life time 1133 Dollars--So who is it that really steel our money? aside from the government, and where is it going? I mean is it the warzones we have or the big ships in Miami harbor after the got rich making weapons, or is it just for the castles in Palm Beach, or is it like Romney gone to Cayman Islands?

USA wake up, and stop being fooled, will you? Please?

Jul 20, 2013 10:34AM
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This is all good advice, but adhering to it is the thing.  Do any of us really want to live this way?  We should, but we don't.  Planning is the real key.  Do not wait until you are getting ready to retire to do these things.  Start when you are in your 20s.  If you do, you will have money to retire on.  Guaranteed.
Jul 20, 2013 7:09AM
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I can promise you one thing.   Pres. Barry Borrock Soetoro Hussein Osama will try in every way conceivable to get his (the government's) hands on it.  Hussein believes in that 'distribute the wealth' thing.  He wants to take your retirement savings, and give your retirement money to those lazy, worthless, meaningless, non-contributing obamamites.  Pres. Osama is all about "The Transformation of America".  His "Audacity of Hope" does not include you having a happy retirement.... that, I can assure you.  His philosophy is that someone has to support all of the the lazy, non-working, moochers, ......... and that 'someone' is you and me.

Jul 20, 2013 7:56AM
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When I retire, I have aspirations to be a Community Organizer in Sanford, Florida.  As you know, Community Organizing is one of the prerequisites for being President of the United States.  Nothing else, just Community Organizing.
Jul 20, 2013 11:13AM
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SOCIALISM:  The Choice of Parasites Worldwide
Jul 20, 2013 10:23AM
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Retire with a monthly pension and don't touch the investments was our goal. Good thing cause fixed rate investment are 4% to 5% . Not sure how  middle class people with only a 401K and full SS benefits can retire with less than $1.5 million . That does not include the house. Better start saving earkly and never loss your employment along the way.

Jul 20, 2013 8:00AM
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How does one "have a plan" for social security? I don't get it. Did I miss something?
Jul 20, 2013 11:57AM
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REVOLUTION!  if you cannot get a living wage getting up and going to work every day what's the sense.  if the rich do not want to pay us, we should just go and take it from them.  what are they going to do?  put all of us in jail?  it is amazing to me how so few can control so many.  wake up people.  5% of the population controls 90% of the money.  this is not a democracy any longer.  the new phrase that i have been hearing is very disturbing, (working poor), if people get up and go to work they should not be poor.
Jul 20, 2013 9:41AM
Jul 20, 2013 12:15PM
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Expect to spend $800 a month on healthcare at retirement is total bullsh**!!!! Whoever wrote this article is clearly using scare tactics.
Jul 20, 2013 1:07PM
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My personal favorite is seeing all of the old folks at the casinos in their scooters and wheelchairs on oxygen, blowing every dime they have on a dream that they'll hit  jackpot. My taxes get to pick up the tab when they spend all that they have and leave hundreds of thousands in hospital bills that they rack up and can't pay.
Jul 20, 2013 12:46PM
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You all need to educate yourselves regarding finances.  If you don't understand, look it up.  If you are working and have a 401k or 403k, don't trust their financial advisor...get the list of mutual funds and look them up on Morningstar.com.  choose the funds that are doing well and have a good track record.  Have 10% taken from your paycheck and as you approach retirement age have 17-20% taken out.  Everytime you get a raise, have that added to your 401k.  You won't miss it. Watch programs like Mad Money and pay attention!  I bought Netflix @ $37.00 and sold it @ $200.00.  the rewards are out there!  Get busy!
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