No one wants to work indefinitely, and effective financial planning—focused on maximizing earnings, boosting savings, and prudent budgeting—is key to securing the desired future. A fulfilling retirement is within reach, but avoiding common mistakes is crucial. This knowledge can be the difference between a stressful and stable life, and everyone should have access to it.

Waiting until 65 to retire

The common notion that retirement must wait until age 65 is not a rule set by employers or the government. In fact, you can begin receiving Social Security benefits as early as 62. This belief stems from outdated pension systems, which are now rare. Waiting too long to retire may mean missing out on valuable time for enjoying life, and the cost benefit of waiting isn’t always substantial. The decision to retire should be driven by your savings, goals, needs, and priorities—not solely by your age.