10 Worst Mistakes People Make After Retirement

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10. Being House-Rich but Cash-Poor

By the time you have retired, you should have paid off your mortgage. But this can leave you with house equity and not a lot else, and you’ll need to cover repairs, maintenance, and the taxes that come with it. Retirement could be the perfect time to downsize and increase your cash flow.

A smaller home will allow a better quality of life, as your new funds will go further and you’ll no longer need to worry about healthcare and other costs.