Steer Clear of These Retirement Mistakes!

Courtesy Library of Congress

1. Not paying for independent financial advice. There is no such thing as a free lunch.

2. Investing in something you do not understand.

3. Supporting adult children, when you are unsure if you do or will have enough assets.

4. Lowballing elder-care costs: Helping out aging parents can be costly.

5. Underestimating how much you will need in retirement.