We talked withfinancial coach and author Dorothea Kellyabout the mistakes people often make when it comes to planning for their retirement.
1) Not contributing to their company's 401(k) plan or similar retirement plan. Even a small amount can get the ball rolling.
2) Not maximizing your contributions when you're able to. Those tax-free contributions and employer matches can add up quickly
3) Withdrawing money early from these accounts. You'll pay a penalty and be taking money away from your future.
4) Now knowing how much money you have... Perhaps you have an old pension from a company you've forgotten about.
5) Underestimating how much you need in retirement calculators can help on sites like Yahoo Finance and Bankrate.com
6) Depending on Social Security to fund your retirement, and not understanding the rules that go along with Social Security & Medicare
7) Not living within your means
