Avoid these 7 Money Mistakes when you Turn 60

You should be in full-on protection mode by the time you’ve hit 60. You spent a great deal of time to build up your nest egg and making sure that this will be enough to cover all your future expenses. However, there are people nowadays who outlive their retirement income. One of the reasons is the high cost of long term care services such as assisted living facilities, nursing homes, adult day care and home care. They can easily avoid this if they have purchased long term care insurance policy. Click here to learn more about this insurance product.

To help you make sure that you will not outlive your retirement savings, here are seven money mistakes you should avoid once you turn sixty. 

1. Investing as if you're still in your 20s
2. Women not taking into consideration their longer life-span
3. Claiming social security too early
4. Not purchasing long-term care insurance
5. Upgrading your standard of living
6. No will or estate plan
7. Retiring without transition plan

Original Source: http://finance.yahoo.com/news/7-money-mistakes-you-should-avoid-in-your-60s-163250164.html