Retirement is a huge adjustment for most people, mentally and socially. Your day-to-day routine changes without a job to report to, and you and your spouse have to learn to adapt to being around each other full time.
Your financial strategy also must shift when you leave work, or there can be huge consequences for your nest egg and standard of living. Here are eight retirement mistakes you should avoid making:
1. Taking Social Security too early
According to certified financial planner Eric McClain of McClain Lovejoy, “Don’t start Social Security as soon as you are eligible. It may make sense to delay, perhaps even draw on your other assets first.”