4. Being Ineffective Tax-Wise During Retirement

There are plenty of retirees who use multiple retirement accounts. This idea might sound cool at first. But you should always keep in mind that different retirement accounts are taxed differently. First of all find the best way to take out your cash from your accounts and assets. If you do not do this, you will end up paying much more taxes that you really have to. What a retired person needs is to find the most efficient way of being taxed. This is not very easy to do, unless you are a professional financial planner. If you are not, then find a trusted expert and ask for help.