5 Expenses I Wish I Had Cut Sooner While Retirement Planning

Core Insights - The average retirement age is 65 for men and 62 for women, highlighting the importance of financial planning for retirement [1] Group 1: Retirement Planning - Retirement income sources include Social Security benefits, Roth IRAs, brokerage accounts, estate planning, and passive income, which are essential to counteract rising living costs [2] - Effective financial planning is crucial to manage expenses and maximize savings for retirement [2] Group 2: Expenses to Cut - Dining out significantly impacts retirement savings, with American families spending an average of $3,459 annually on dining out, which could be redirected into retirement accounts [5] - Reducing impulse shopping and excessive spending can prevent derailment of retirement plans, emphasizing the need for mindful financial habits [6]