In challenging economic times, it’s more important than ever to avoid making financial mistakes that can cost you a lot down the road. Yahoo Finance reports there are seven common errors that most people make at one time or another. These are the mistakes to avoid at all costs:
- Delaying saving for retirement
- Not having an emergency fund
- Selling investments during market swings
- Holding too much in cash
- Sticking with one investment type at the expense of others
- Not sticking to a budget
- Failing to get professional financial advice
If you find yourself doing one of these, it’s not too late to turn things around. Managing your finances will involve making adjustments and course corrections along the way to achieve your goals. That’s why more people turn to financial planners to make sure they’re headed in the right direction.
People regard their financial situation as deeply personal and can be hesitant to discuss it with others. Going to a neutral certified financial adviser can help get you over that.
Council of Seniors Wants Retirement to be Enjoyable
More retirement income can ease a lot of worries in stressful times. Here at Council of Seniors, we’re dedicated to getting Congress to pass The SAVE Benefits Act. Because of low annual Social Security cost-of-living adjustments (COLAs), seniors were short-changed by $581. If this bill passes, they’ll finally be reimbursed.
Signing our petition is the first step to take to help. Working together, we’ll let Congress how many Americans support this bill.
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