12 Biggest Pitfals in Retirement Planning

On today's episode of Money On Tap: the Olympics in the news and a discussion on 12 biggest pitfalls in retirement planning(Longevity risk, interest rate risk, inflationary risk, adult children, divorce, elder fraud, tax rate risk in retirement, social security income risk, pension risk,withdrawal risk, health risk, sequence of returns)Is it too late to fix my retirement at 50?No — the 50s are the catch-up years by design. Catch-up provisions let you contribute above the standard limits to 401(k)s and IRAs, the HSA offers triple tax advantages for future healthcare costs, and a backdoor Roth can build a tax-free bucket even if your income is too high for direct contributions. Pair those with a segmented "bucket" strategy — instead of retreating to CDs and cash — and most late starts can still be rescued. The first step is knowing your income need, not chasing a number.