Top 5 Retirement Planning Mistakes

Many of my clients ask my advice regarding their retirement plans and benefits.  Though I am not a financial adviser and as such never make recommendations regarding specific financial/investment options (I do work with many very qualified financial professionals and I do love to make referrals so if you are in the need of a financial adviser in Connecticut please let me know), as an attorney I do work very closely with clients and there retirement plans.  Here are  5 mistakes to avoid regarding your retirement assets.

1. Not understanding your options when you leave a company.

2. Improper or outdated beneficiary designations.

3.  Not understanding the beneficiary's distribution options.

4.   Not taking the required minimum distribution from an IRA when you reach age 70 1/2.

5.  Not having enough money saved for your retirement.

All of these mistakes can be avoided with a little knowledge.  The information you need is available through qualified financial professionals.