Personal Finance Advice and Commentary

Sunday, April 01, 2012 9:00 am
By Jennie L. Phipps · Bankrate.com

Just in time for April Fools’ Day, here are five foolish retirement planning mistakes that lots of people make.

Believing in Santa Claus, the tooth fairy and investment returns that are too good to be true. Just this week, the Texas State Securities Board reported that a shyster who bilked $7 million out of elderly investors will get 15 years in jail while his victims will get bupkis.
Thinking that since grandma died at 65, you will too. According to data released by the U.S. Census Bureau this January, average life expectancy is 78.7 years, But that’s the average.