Common Retirement Mistakes Oklahomans Should Avoid
Planning for retirement is exciting—but it’s easy to make mistakes that can derail your future. Oklahomans often underestimate how long retirement lasts and how much money they’ll need. Here are the most common retirement mistakes and how to avoid them.
Mistake 1: Underestimating Expenses
Many retirees forget to budget for rising healthcare costs, inflation, and lifestyle changes. This leads to shortfalls later in life.
Mistake 2: Claiming Social Security Too Early
While filing at 62 provides income sooner, it reduces lifetime benefits. Waiting until full retirement age—or later—can increase income significantly.
Mistake 3: Ignoring Taxes
Without tax planning, retirees may pay thousands more than necessary on withdrawals, Social Security, and Medicare premiums.
Mistake 4: Not Diversifying Income Sources
Relying only on Social Security or one investment type can be risky. A mix of accounts and income streams provides stability.
Anchor’s Role
Anchor Financial Group helps Oklahoma retirees avoid these mistakes by creating comprehensive retirement plans tailored to each family’s needs.
Avoiding mistakes leads to a more secure retirement. Anchor helps Oklahomans plan smarter and live better.