Are you Making These Common Retirement Mistakes? LFG Daily - October 20, 2025

Dream Bigger, Sleep Better

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Luke Lloyd, CEO Lloyd Financial Group

Retirement should be the most rewarding chapter of your life — a time when your years of hard work pay off and you finally get to enjoy what you’ve built. Unfortunately, many Americans reach retirement only to find that financial missteps made along the way limit their freedom and peace of mind. Whether you’re 10 years out or already retired, avoiding these common mistakes can make all the difference between “just getting by” and truly dreaming bigger and sleeping better.

Before Retirement: The Critical Mistakes That Set You Back

1. Not Having a Real Plan (Just “Saving”)

Too many people focus on accumulating assets without understanding how those assets will translate into income later. A pile of investments is not a plan. You need a coordinated strategy that considers taxes, withdrawals, Social Security timing, and risk management — all tied to your goals and lifestyle.

2. Ignoring Tax Planning Opportunities

Taxes don’t end when you retire — they often just change form. Pre-retirees miss out by not using Roth conversions, strategic withdrawals, or asset location strategies (placing certain investments in the right types of accounts). Smart tax planning before retirement can save tens of thousands of dollars over your lifetime.

3. Taking Too Much (or Too Little) Risk

It’s common to see two extremes: people who stay overly aggressive right up to retirement, and others who move everything into cash or bonds out of fear. Both are dangerous. The right approach balances growth potential with protection — using buckets or time horizons so your short-term income isn’t at risk while your long-term assets still grow.

4. Not Factoring in Healthcare and Inflation

Healthcare costs can rise faster than inflation, and ignoring them can destroy even the best retirement plan. Likewise, underestimating the long-term impact of inflation — even at modest rates — can erode your purchasing power. A dollar today will not buy the same lifestyle in 20 years.

5. Retiring Without Understanding Your Income Flow

Most retirees think in terms of “how much I have saved” — not “how much income I can generate safely.” Without an income plan that coordinates Social Security, investments, and distributions, you risk withdrawing too much too soon… or living too cautiously and not enjoying your money.

After Retirement: The Mistakes That Drain Peace of Mind

1. Withdrawing Emotionally, Not Strategically

Market volatility makes many retirees panic. Reacting emotionally — selling at the bottom or holding too much cash — can lock in permanent losses. A structured withdrawal plan keeps your emotions in check and your income stable.

2. Neglecting Required Minimum Distributions (RMDs)

Ignoring RMDs or taking them from the wrong accounts can lead to unnecessary taxes and penalties. Strategic withdrawals before RMD age can minimize long-term tax headaches and give you more control.

3. Not Adjusting to New Spending Patterns

Retirement spending isn’t static. The “go-go,” “slow-go,” and “no-go” phases all look different. Without periodic reviews, retirees either spend too aggressively early or under-spend, missing out on experiences they can afford.

4. Forgetting Estate and Legacy Planning

You’ve worked your whole life to build wealth — don’t let poor estate planning send it to the wrong place. Failing to update beneficiaries, neglecting trusts, or overlooking tax-efficient gifting strategies can lead to unnecessary taxes and family conflict.

5. Not Coordinating with a Fiduciary Advisor

DIY investing or relying solely on “rules of thumb” may have worked while accumulating wealth, but retirement is about distribution, tax strategy, and income sustainability. A fiduciary advisor can help you make coordinated decisions across investments, taxes, and estate planning so your wealth truly works for you.

The Bottom Line

Retirement success doesn’t happen by accident — it happens by design. The people who retire confidently don’t just focus on market returns; they focus on strategy. Whether you’re nearing retirement or already living it, the key is having a plan that adapts to changing markets, tax laws, and life goals.

Don’t leave your financial future up to chance. Let’s build a plan that gives you confidence today and peace of mind for tomorrow. Click here to schedule a meeting — I’m here to help you take the next step toward financial freedom.

Colin Symons, CIO Lloyd Financial Group

Atlanta Fed GDPNow went from 3.8% to 3.9%.

S&P lowered France’s credit rating from A+ to AA-, citing heightened risks to the budget.

China says their economy remains on track, with Y/Y Q3 GDP 4.8%, as expected, and Industrial Output 6.5% vs. exp. 5%.

Japan’s Nikkei hit fresh ATHs as Takaichi looks set to become the new PM following a coalition with the Innovation Party.

Friday, TFC, CMA, FITB, RF, and ALLY all reduced, rather than raised, provision for credit loss. AXP also lowered provisions, so individual credit stress seems distant. What banking stress?

After crashing from 30 to 20 on Friday, VIX is up marginally, today.

What does it all mean? The market remains nervous, despite a recovery on Friday and this morning. A simple lack of bad news over the next few days should help it regain its footing.

Don’t leave your financial future up to chance. Let’s build a plan that gives you confidence today and peace of mind for tomorrow. Click here to schedule a meeting — I’m here to help you take the next step toward financial freedom.

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This content is intended to provide general information about Lloyd Financial. It is not intended to offer or deliver investment advice in any way. Information regarding investment services are provided solely to gain an understanding of our investment philosophy, our strategies and to be able to contact us for further information.

All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.

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Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy will be profitable