Retirement planning mistakes: 8 costly errors to avoid – from skipping withdrawal plans to ignoring medical expenses

Many retirees face financial challenges due to inadequate savings, medical emergencies, or inflexible investments. Common mistakes include lacking a withdrawal plan, over-investing in annuities, avoiding equities, and insufficient health insurance. Estate planning oversights and illiquid assets further complicate matters. Tax-inefficient products and pre-existing debt can significantly strain retirement funds.