10 Careless Ways Retirees Waste Their Savings

Page 9 of 10

2. Neglecting to Create a Will or Estate Plan

Insider Monkey Score: 56

If a retiree fails to create a will or estate plan, it can lead to significant financial consequences for both retirees and their beneficiaries. What will happen in such a case is that their assets may be distributed according to state laws, leading to higher probate costs, delays in asset distribution, and potential disputes among family members.

Page 9 of 10