When your retirement finally arrives, you can take a deep breath and exhale. You made it! But that doesn't mean you may relax completely.
In fact, mistakes made in retirement can cause significant financial distress. Here are 10 common pitfalls to avoid:
Mistake 1. Going on a spending spree. It may be tempting to start spending freely, especially because you now have more time on your hands. But you don't want to burn through your savings in just a few years. It's still important to rely on a budget that helps you balance monthly income and expenses.
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