When sorting out options and trying to get prepare for retirement, people often assume everything will work out. In other words, what they think retirement will be like is vastly different than what it really is like.
As the author, Robert Laura, points out in this Financial Advisor article, “In other words, they can end up with a deficiency in their personal life that is very different from being a few bucks short in their bank account. Quite simply, you just can’t scrape together family, friends, good health or more time.”
Don’t make this mental accounting mistake- plan for the NON-Financial aspects of retirement just like you plan for the Financial aspects of retirement.