You are using an older browser version. Please use a supported version for the best MSN experience.

5 Major Money Mistakes To Avoid Once You Turn 60

GOBankingRates Logo By Laura Woods of GOBankingRates | Slide 1 of 6: You’ve been working hard your entire adult life and you’re finally nearing retirement. The prospect of having more time to relax and enjoy yourself is exciting, but you’ll need money to do that. Watch Out: 17 Biggest Budgeting Mistakes You're Making Learn: How To Get Into the Habit of Saving Money  As you wrap up your peak earning years and prepare to step away from the workforce, it’s important to make smart money moves that will protect your nest egg. All it takes is one poor financial choice to throw a wrench in your plans — and financial stability — so take the time to make informed decisions. Read More: 19 Effective Ways To Tackle Your Budget When faced with a large amount of cash, it can be tempting to share it with loved ones — i.e., your children — or indulge yourself with luxury items. However, this money needs to last your entire retirement, which could span decades. Here’s a look at common financial blunders you don’t want to make as you get older if you want to avoid a major financial setback. Last updated: Sept. 16, 2021

You’ve been working hard your entire adult life and you’re finally nearing retirement. The prospect of having more time to relax and enjoy yourself is exciting, but you’ll need money to do that.

Watch Out: 17 Biggest Budgeting Mistakes You're Making
Learn: How To Get Into the Habit of Saving Money

As you wrap up your peak earning years and prepare to step away from the workforce, it’s important to make smart money moves that will protect your nest egg. All it takes is one poor financial choice to throw a wrench in your plans — and financial stability — so take the time to make informed decisions.

Read More: 19 Effective Ways To Tackle Your Budget

When faced with a large amount of cash, it can be tempting to share it with loved ones — i.e., your children — or indulge yourself with luxury items. However, this money needs to last your entire retirement, which could span decades. Here’s a look at common financial blunders you don’t want to make as you get older if you want to avoid a major financial setback.

Last updated: Sept. 16, 2021
© jacoblund / Getty Images/iStockphoto

More from GOBankingRates

GOBankingRates
GOBankingRates
image beaconimage beaconimage beacon