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1. Not Saving Soon Enough
You know that moment when you think, “I’ll start saving next month”? Yeah, that’s the same month that somehow never shows up.
The biggest mistake people make is waiting for the “right time” to save for retirement, as if the universe will suddenly send a calendar invite.
Here’s the harsh truth. Time is your best money-making machine, and the earlier you start, the less heavy lifting your wallet has to do later.
Even small savings can grow big thanks to compound interest. That magical force that turns your $50 today into “where did all this money come from?” decades later.
Don’t let procrastination become your retirement plan. Future you deserves better.
👉 Here's How You'll Do It: Start with automatic transfers to a retirement account using apps like Betterment or Acorns to make saving effortless every payday.
📌 SAVE IT FOR LATER! 📌
2. Relying Only On One Source Of Income
Depending on one paycheck is like walking a tightrope with no safety net. One slip and it’s game over.
You already know the saying: “Don’t put all your eggs in one basket.” Well, retirement planning is exactly that basket.
If your only income source is your job, what happens when that job goes poof? Scary thought, right?
Multiple income streams. Like investments, rental income, or side hustles. It can protect you from those “oh no” moments life loves to throw at you.
Because let’s be real, relying on one source is just hoping things go perfectly forever, and that’s not a strategy. That’s wishful thinking.
👉 Here's How You'll Do It: Start a small side hustle or invest a portion of your paycheck into dividend-paying ETFs with platforms like Fidelity to build a backup stream of cash flow.
3. Using Retirement Money Too Early
Tapping into your retirement savings early might feel like a quick fix, but it’s actually financial self-sabotage in disguise.
Every dollar you pull out now isn’t just a dollar gone. It’s years of potential growth you’re giving up.
Think of it like chopping down a young palm tree before it ever gets a chance to grow shade.
And those penalties? The IRS doesn’t mess around. You’ll lose a chunk to taxes and fees before you even blink.
So next time you’re tempted to dip into your retirement fund, remember: you’re basically borrowing from your future peace of mind.
👉 Here's How You'll Do It: Use a separate emergency fund for surprises. Stash three months of expenses in a high-yield savings account like Betterment Cash Reserve instead.
Bonus Tip: Not Knowing Your Real Goal Number
You’d be surprised how many people save for retirement without ever knowing how much they actually need.
It’s like running a marathon without a finish line. You’ll keep going, but you’ll never know when to stop.
Most people guess their number based on what they think sounds “enough,” but that’s how you end up short later.
You need a clear, personalized goal that fits your lifestyle, your income, and yes. Your future bucket-list dreams.
Because let’s be honest, you don’t want to hit 65 and realize your “comfortable retirement” budget barely covers Netflix and coffee.
👉 Here's How You'll Do It: Use Boldin’s free retirement calculator to instantly see your real retirement goal number and get a personalized savings plan. Thousands of users trust it because it breaks everything down clearly, no finance degree needed.
4. Planning To Rely Only On Government Checks
If you’re counting on Social Security to cover your retirement, you might want to grab a calculator and a reality check.
Those monthly checks aren’t meant to fund a beachside retirement. They’re more like pocket money to keep you from starving.
Social Security should be a backup plan, not the main plan.
The truth is, many people overestimate how much they’ll get, and by the time they realize it, it’s too late to fix.
You want freedom, not the stress of choosing between rent and groceries at 70, right?
👉 Here's How You'll Do It: Calculate your expected Social Security benefits on SSA.gov and plan to replace at least 70–80% of your income through personal savings or investments.
5. Forgetting That Prices Always Go Up
Inflation is that sneaky thief that quietly robs your savings while you’re not looking.
What costs $100 today could easily cost $200 by the time you retire. And that’s not even counting health care.
If your retirement plan doesn’t grow faster than inflation, you’re basically running on a treadmill that keeps speeding up.
You need investments that can outpace rising prices. Stocks, index funds, or real estate can help you stay ahead of the curve.
Otherwise, your “comfortable” retirement might start feeling like a tight squeeze faster than you think.
👉 Here's How You'll Do It: Revisit your portfolio once a year and rebalance it with tools like Fidelity or Betterment to keep your returns beating inflation over time.
📌 SAVE IT FOR LATER! 📌
And that’s it!
Never forget it…
🍔 A Bigger Bank Account Is Waiting For You!
😉 Dale!
