Money mistakes that can hurt old age
Starting late, contemplating
Another argument is that income will be more at a later age. While this is true, expenses will be proportionally higher too, you will have dependants or more mouths to feed, more expenses etc. Normally, children’s education and wedding are major financial goals for many and these are heavy expenses which may not leave you enough for your old age.
Not committing enough
Another mistake is planning retirement only till 75 or 80. Due to improvement in medical sciences, life expectancy has increased so everyone should plan for longer years.
Not having medical insurance
Don’t be skewed towards one asset class
Investing in expensive products