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Retirement plans are one of the most important financial goals that you’ll experience in your life. If done correctly, you can be living a free and joyful life after retirement. The most important thing is to get your plan together sooner rather than later. This doesn’t mean you should rush your retirement plan but you need to figure out what works best for you and your end goal. While working experts it’s common for them to get over on clients and sell false information. To help this from happening to you are, here are some flaws to look out for in your retirement plan.


Not saving enough

The last thing anybody wants to hear is that they need to save more but the reality is that you’re spending your retirement now or saving it for later. Everyone should base their retirement plan on their priorities and lifestyle. The rule of thumb has always been to save 10% but if you are fortunate enough to save a few more dollars then you should do so. The more you save the fewer problems you will face with debt. Saving more money also allows you to plan for the future without having to worry about how much money you’ll have. Women have a longer life expectancy, meaning they should save more just to be safe. Once you begin to save more and see the money go up with interest rates, the more driven you will be to save more money.


Employer Match

Find out about how much money you save your employer will match. If your employer isn’t willing to match at all then maybe you should consider asking for a higher rate or looking somewhere else for work. Companies who care about their employees and keeping them around are willing to match up to 100%. Bonuses and employee incentives can only go so far. At a minimum, employers should be offering their employees a 25% match. It’s all about knowing your worth and recognizing how much money you want to have during your retirement.



As good as investing sounds, it can also be a very bad decision. By not keeping track of your assets and just throwing them into your company stock you can end up with nothing saved. If your employer got shut down, not only do you lose your job but your retirement savings as well. There is nothing wrong with investing in company stocks, but it should not be your greatest source of savings. Consider investing a very low percent for a few years to see how it’s working out. Two plans are always better than one.


Securities offered through Kalos Capital, Inc. and Investment Advisory Services offered through Kalos Management, Inc., both at 11525 Park Woods Circle, Alpharetta, GA 30005, (678) 356-1100. Retirement Income Strategies is not an affiliate or subsidiary of Kalos Capital, Inc. or Kalos Management, Inc.