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*This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties.

Managing finances properly is mainly common sense. While we’ve all made financial mistakes, most of those mistakes are easily rectified, particularly when promptly corrected. However, there are some financial decisions that can be much harder to recover from. Here are just a few of them:

Sometimes simple is best. Many of us tend to complicate our financial situation; overthinking our options while ignoring the basics.

But like anything else, the simplest rules are often the most important ones; and the ones most likely to be ignored. How many of these rules do you follow?

If you’re new to investing, some of the information on the Internet can be downright confusing. While investing itself is fairly straightforward, many people find themselves shying away from the entire process because they simply don’t understand the terminology, which can be somewhat overwhelming.

In recent years, reverse mortgages have been enthusiastically marketed to homeowners ages 62 and over. Optimally designed for homeowners with at least 50 percent equity in their home, reverse mortgages allow homeowners to tap into that equity, providing them with a regular monthly payment – the complete opposite of a standard mortgage.

How to Avoid Retirement Woes