3 Things That Can Hurt Your Retirement Plan

You’ve worked hard for decades, and you deserve a retirement that feels secure—not stressful. But in our work with pre-retirees and retirees, we often see the same few issues quietly derail otherwise solid retirement plans.

The good news? These mistakes areavoidable—especially when you know what to watch for ahead of time.

Let’s talk throughthree things that can hurt your retirement plan, and what you can do instead.

1. Taking Social Security Too Early

It’s completely understandable to want to claim Social Security as soon as you’re eligible. You may be tired of working, facing a job change, or even pushed into early retirement—which unfortunately happens to many seniors.

But taking Social Security early comes with trade-offs that last a lifetime.

Key Consequences of Claiming Social Security Early

• Permanently reduced benefit:Your monthly payment is reduced for every month you claim before your Full Retirement Age (FRA).

• Up to a 30% reduction:Claiming at age 62 can reduce benefits by as much as 30% compared to waiting until FRA (typically age 67).

• Earnings limits:If you work before reaching FRA, Social Security may reduce your benefits once earnings exceed the annual limit.

• Medicare timing confusion:If you retire before 65, you still must enroll in Medicare at 65—and you’ll need to apply separately if you aren’t collecting Social Security yet.

Social Security decisions should never be made in isolation. They need to be coordinated with yourretirement income plan, Medicare enrollment, and other guaranteed income sources.

👉 Learn more directly from the Social Security Administration:
https://www.ssa.gov/benefits/retirement/

2. Inflation Outpacing Your Retirement Income

Let’s face it—inflation isn’t going away. And for retirees living on a fixed or semi-fixed income, watching purchasing power shrink can be incredibly stressful.

Once retired, going back to work often isn’t appealing—or realistic. That’s why planning for inflationbeforeretirement is so important.

Ways to Help Offset Inflation in Retirement

Fixed Index Annuities
A fixed index annuity allows your money to grow based on market performance—without risking market losses. Your principal is protected, meaning:

• You can benefit when the market goes up

• You won’t lose money when the market goes down

Many retirees use fixed index annuities to grow income for 5, 7, or even 10 years into retirement. For example, someone retiring at 65 might position funds to mature at 70, 72, or 75—helping future income keep pace with rising costs.

MYGA (Multi-Year Guaranteed Annuity)
A MYGA is a type of fixed annuity that offers:

• A guaranteed interest rate for a set term (typically 2–10 years)

• Tax-deferred growth

• Predictable, steady compounding

This can be an attractive option for conservative growth without market exposure.

Real Estate
Rental properties or second homes can appreciate over time and offer income. However, real estate can be slow to sell and difficult to liquidate—especially during a down market—making it less predictable than guaranteed income solutions.

3. Not Planning for Long-Term Care Costs

Long-term care is one of the most underestimated retirement risks—and one of the most expensive.

Typical Annual Long-Term Care Costs (National Averages)

• Assisted Living Facility: ~$70,800/year

• Nursing Home (Semi-Private Room): ~$111,325/year

• Nursing Home (Private Room): ~$127,750/year

• In-Home Care: ~$24/hour or $5,900+ per month for full-time care

Medicare doesnotcover extended long-term care, which surprises many retirees.

👉 Learn more from Medicare directly:
https://www.medicare.gov/coverage/long-term-care

Who Should Consider Long-Term Care Insurance?

• Middle-income individuals who can’t self-insure $100,000+ per year

• People who value independence and want control over care decisions

• Health-conscious planners who qualify for better rates early

• Those with a family history of chronic conditions

Planning ahead can protect your retirement income—and your family—from financial strain.

Your Retirement with the Right Income Plan

You’ve saved your entire life for retirement. But most people are never shown how toturn savings into income.

The biggest fear we hear?
Living too long and running out of money.

That’s where we come in.

We are retirement income planners for the middle class. Unlike many financial advisors who require $500,000 or more to get started, we focus on practical, guaranteed strategies designed for real families.

If you’re looking for an income plan that issafe, predictable, and designed to last for you and your spouse’s lifetime, Safe Harbor Retirement can help.

A Worry-Free Retirement Starts with a Plan

We are a boutique, veteran-owned retirement agency that helps the middle class through ourFour-Step Retirement Process, which includes:

• Retirement Income Planning

• Insurance Solutions

• Medicare Education & Enrollment (Supplement & Part C)

• Long-Term Care Planning

• Creating Lifetime Income with Annuities

We take pride in doing what’s best for our clients—always.

Key Takeaways

• Claiming Social Security too early can permanently reduce income

• Inflation can quietly erode retirement purchasing power

• Long-term care costs can derail even strong retirement plans

• Guaranteed income strategies bring stability and confidence

Schedule a Free, No-Pressure Consultation

📞Call:850-270-8625
🕗Hours:Monday–Saturday, 8 AM – 7 PM CST
🌐Visit:https://www.safeharborip.com
📧Email:[email protected]

A short conversation today can protect years of retirement income tomorrow.