One of the saddest things I see as a financial advisor is people have been saving their whole lives,

but they fail to turn those savings into peace of mind and they live a retirement that's far less ideal than it otherwise could have been.

And what I also have noticed is that in these instances, it's typically because of one of five core mistakes that people end up making with retirement.

So what we're going to do in today's episode is talk about the top five most avoidable retirement mistakes,

as well as what you need to know to protect against them.

This is another episode of Ready for Retirement. I'm your host, James Cannell, and I'm here

to teach you how to get the most of the life with your money. And now, on to the episode.

And now with this video, we could talk about things like the tax strategies

people miss or collecting Social Security at the wrong time, but some of these mistakes come

down to not knowing in advance what's going to happen. And there's a lot of complexity to some of these

actual strategies. Today, what we're going to focus on is things that are easily avoidable,

things that all it takes is more information or the right information so you can understand where to look and what you can do to avoid some of these

mistakes. The first most avoidable mistake I see people make is they spend the wrong amount.

Now, the wrong amount could be too much or it could be too little. If it's too much, well,

we all know the risks of that. If you spend too much from your portfolio too early, you're not going to have a portfolio

for that long in retirement and you're ultimately going to run out of money.

You're going to be forced to live on just Social Security or just a pension or whatever you have,

but that's a mistake.

Now, here's the thing.

If you're spending too much, that's a very avoidable mistake. There's some very basic rules you can look

at to say how much income can your portfolio sustainably support for you and how much income

you ultimately need to supplement things like Social Security or things like your pension

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