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Nothing is more terrifying than the thought of running out of money in retirement. You've worked hard your entire life, and the last thing you want to do is to have to go BACK to work.
But money traps are all too common for retirees. You could be wasting hundreds, potentially even thousands every year by overlooking these common money mistakes.
Don't worry — it's never too late to correct the course! You could get started as soon as today with some of these tips to help protect your nest egg.
Scams and Fraud: American adults lost $47 billion to scams and fraud in 2025
That's right. According to a recent report, American adults lost $47 billion to scams and identity fraud in 2025.
But you can safeguard your identity with Coveron (previously NordProtect) — an all-in-one protection service designed by cybersecurity experts. Coveron includes up to $1,000,000 in identity theft recovery coverage, helping reimburse you for eligible recovery expenses if needed.
Plans start as low as $7.49 per month (when charged annually) and include 24/7 dark web monitoring, credit score tracking, and real-time security alerts to notify you about potential threats, from compromised accounts to suspicious credit activity.
Before you make your next online purchase or open your next email, protect what you’ve built — for a fraction of what identity theft could cost you.
Overpriced Home Insurance: Switch your home insurance and you could save a ton of money
If you have home insurance, you need to see the recent rates available to you. There’s a good chance you’ll want to switch your policy if you see a better rate.
The best way to check for up-to-date rates: Get multiple policy quotes from a variety of home insurance providers. Too many homeowners skip this step — not realizing that they could save potentially $1,000s over the lifetime of owning their house.
Provide Home Insurance is a company that matches you with a variety of home insurance options to meet your home insurance needs … including lower overall cost or better overall coverage.
Just answer a few questions, and they will find options that are right for you.
Over 50? Join AARP today — because if you’re not a member you could be missing out on huge perks. When you start your membership today, you can get discounts on:
- Restaurants (save up to $450 per year!)
- Meal deliveries
- Airfare, Hotels, Cruises and Rental Cars
- Eyeglasses and even prescriptions that aren’t covered by insurance
Plus you’ll also get insider info on social security, job listings, caregiving, and retirement planning.
How to become a member today:
- Click the link below, select your free gift, and click “Join Today”
- Create your account (important!) by answering a few simple questions
- Start enjoying your discounts and perks!
Get 25% off your AARP membership, making it just $15 the first year with auto-renewal
Ignoring Your Home’s Equity: Access funds with a home equity line of credit
If you’re a homeowner, a HELOC may be one option to compare. Use this tool to find companies offering homeowners access to funding.
LendingTree's network of lenders specialize in HELOCs (home equity line of credit). A HELOC is like a credit card that lets you access funds from your home, possibly without crazy interest rates. No, it’s not for everyone. But it’s a way to leverage the value of your home to get funding.
Get started by using LendingTree’s free simple HELOC matching tool. The key to making a HELOC work is comparing rates and terms, and this tool does that for you. Answer a few questions and you can compare options in a few minutes.1 <p>Terms and conditions apply. Rates subject to change. LendingTree, LLC. NMLS# 1136.</p>
Getting quotes and checking rates doesn't affect your credit. Lenders consider several factors, including credit score and home equity.
Ask this company to help you pay off your late tax debt
Past-due tax debt is overwhelming.
It weighs on your mind and causes massive anxiety. You end up emotionally and physically drained. Even worse when the IRS starts sending letters threatening wage garnishment and huge fines.
Alleviate Tax is designed specifically to help you get out of tax debt faster and could reduce some of the debt you owe.
While most tax companies just put you on a payment plan and file your taxes for you, Alleviate Tax talks to the IRS directly. They can help you pay off your tax debt faster while potentially reducing what you owe.
Important: Not everyone will qualify. To take advantage of this special program you must owe more than $10,000 in past-due taxes.