Inside:

  • Why being invested in the stock market at the time you need to start taking withdrawals could lead to trouble
  • How tapping into your principal could lead to one of the biggest financial mistakes a retiree can make

When it comes to planning and saving for retirement, one of the biggest mistakes I’ve seen people make is spending down their principal—especially during the early years of retirement.

You might have heard your parents tell you to save while you’re able and to do what you can to live off of the interest of your retirement savings so you can avoid spending principal.

It’s a concept that’s been around for centuries, and it seems fairly easy to understand. Yet, many fail to get it right. Unfortunately, if you get it wrong, it can lead to one of the biggest financial mistakes a retiree can make.

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