9 Retirement Decisions That Can Ruin You Financially

3) Not Saving Enough

Another common mistake people make is not putting enough money away for their retirement. When you’re saving money for retirement, start as early as you can and save as much as you can every month.

Generally, most financial advisors say to try and put about 10 percent of your income away each month. If you start early, this could save you a ton of money in the long run. If you can, put at least 10 percent of your income into your retirement savings account, and don’t touch this money until the day you retire. Even if you can’t afford to put away 10 percent every month, you’ll still want to save as much as possible. After all, nobody ever complains about having saved too much money for retirement.