Seven financial mistakes you need to avoid in your 70s and 80s
Proper planning can help balance retirement needs against estate tax liability
While it’s impossible to determine just how much money you might need for the remainder of your life, it’s better to overestimate rather than underestimate.
You’re retired and many of those big lifetime financial decisions, such as how much you’ve managed to save for your pension and how you’ve invested it, are long made. You’re already living on the basis of how well or otherwise those turned out to be. But the next stage of your life, particularly your early 70s, can also be crucial in determining how your later years might play out.
Not only that, but they can only determine what – if anything – you’d like to leave behind to your loved ones.