Mistakes are made by people of all ages. It is risky to make wrong decision if you are a mature person who is about to retire in the nearest future.

Here is a list of the most common mistakes retirees make:

1. No Changes in Lifestyle after Retirement

Expenses should be adjusted according to your period of life. Your life depends on your budget at all times. It is especially important for retirees to understand this fact and learn to live without extra expenses. Working people can afford buying more expensive food, clothes and other items. If you are retired, you do not earn as much as you did a few years ago. From now on you will need to cook on your own instead of eating out and refrain from spending money on expensive purchases.