These Retirement Planning Mistakes Could Leave You in a Serious Financial Bind

If you're willing to live an extremely frugal lifestyle, you may get away with less, but if you aim for that 70% to 80% replacement-income target, you'll be less likely to encounter financial difficulties during retirement. Many people assume that once they retire, Social Security will pay them enough money to live on. Furthermore, because Social Security is facing a financial shortfall in the coming years, benefit cuts may be on the table, which would leave you with even less income to look forward to.