8 Potential Money Pitfalls for Retirees

Money Traps Facing the Older Set

For many Americans, retiring means entering a new realm of financial realities, from learning to live on a pension or Social Security checks to downsizing to a smaller home. Unfortunately, while retirement can be a great time to enjoy the later years of life, there are several pitfalls to watch out for to guarantee your money lasts. To help you on your journey through retirement, we examine eight potential financial traps to be aware of. While there are benefits to some of the financial products and offers we discuss, retirees must learn how to use them properly. Here's what you should know. Photo Credit: Freddy the Boy