https://www.merriam-webster.com/dictionary/unforced%20error
unforced error
noun
Nerd alert + defintion
My own definition of a financially happy / successful retirement is when your total incoming cashflow matches or exceeds your desired level of spending.
Nerd alert + risk
Since we have recently been in and may still be in an inflationary period preceded by a period of relatively low inflation, IMPO it is actually not possible to "guarantee" the above kind of financially happy retirement ... due to inflation.
Current ways to help address the issue of maintaining your (both) lifetime(s) purchasing power in retirement are IMPO imperfect. But that opinion does not mean it's not a good idea to make decisions that help this critical issue of maintaining purchasing poiwer.
#1 Unforced error
Not knowing about and / or not being able to access 100% of resources
Knowing where all the resources are. And actually being able to access all these resources. Especially if you have divided responsibilties with your spouse / partner and you are the spouse / partner who was not the one primarily taking care of the couple's financial matters. Usually seen when in married couples retiring from one (shared) bucket of resources and the person who was not managing the money was either inadvertently or intentionally unaware of what the assets are and how to access them. Including knowning passwords for online accounts.
#2 Unforced error
Not having "saved enough" or being in a position where it is "required" to "spend too much."
Not taking or not having taken the possible IRL (In Real Life) steps to get as close as possible to match my nerd definition - i.e. matching incoming and outgoing cash flow.
#3 Unforced error
See above. It is not possible to completely guarantee a financially successful / happy retirement I defined above. Even though, e.g. / for example money in a United States FDIC regulated bank is guaranteed by FDIC, as well MAYBE as a CD at such bank, just because you can get your money out and get the nominal interest rate guaranteed does not mean you maintained your purchasing power. See pre WW2 Germany and its destructive level of inflation.
So the risk is a double-edged sword. Not taking enough risk with your investments. Taking too much risk.
#4 Not planning for partial or total physical or mental incapacity / lower effectiveness
e.g. First floor "primary" (aka "master) bedroom and at least one first floor bathroom including tub or shower (i.e. not just a powder room"
e.g. Knowing who (person) or what outsider e.g. bank, F/A etc. will manage the money if the partner / spouse who was able to is the one who becomes incapacitated.
#5: Unforced Error
Not doing the arithmetic on the loss of the lower Social Security at the death of 1 spouse.
#6
Not having the conversation aka "Frank and complete exchange of views" with another family member who could potentially provide possibly foreseeable kinds of help - e.g. managing mmoney but also e.g. providing rides to doctors' appointments etc.
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