Retiring in Williamsburg Blog

Lifestyles, Community Information. Helping you find your new home

Serious Errors when Retiring – don’t make these mistakes!

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The 10 Worst Retirement Mistakes was an article written in August of 2011, for Top Retirement’s magazine. It got so many comments, they revised it, and then revised it, again, down to the Top Six. Then, this month, they came out with a further whittled down list of the Top 6 Mistakes – below are the highlights, adapted from these three articles – read and learn! Then, contact me and let’s see what Williamsburg Communities have to offer the retiree!

The Top 10 Worst Retirement Mistakes, Rolf Kramer, Real Estate Agent, Williamsburg, VA

Don’t make mistakes, when you retire—make it the best year of your life!

The 6 worst retirement mistakes you can make:

  1. Don’t build a dream house. There were several laments in one of our previous surveys from members who found it all too easy to get into building or buying a retirement dream house that got out of control. Only too late did they realize that what they were building was too big for the reality of their retirement. Too big means hard to maintain, heat/cool, and pay taxes on. It might not be set up with enough Universal Design features like one-floor living, no steps, accessible counters, door levers instead of handles, ability to add an elevator, etc. Children or grandchildren don’t come to stay as often as you thought they might, so don’t buy for them. Think about a house with at most 3 bedrooms, with one of those set up as an office. Or better yet, have an office that easily converts to the 2nd bedroom. Use the money you save to take the kids on a cruise. Just for fun, buy or rent the movie, “Tiny, A Story about Living Small“, on Netflix. It’s about the popular movement to very tiny (just over 100 to 300 sq.ft.) houses. While they are probably not for most people over 60, it does show you why you don’t need as much as you think.
  2. Don’t retire too soon. We’ve learned that way too many folks can’t wait to step into retirement, only to realize they miss work. If work is really important to you and you enjoy your job, why should you stop? If you truly hate your job or your boss, make a career shift instead.
    Others find they don’t miss the job so much, but don’t have enough money to enjoy a comfortable retirement. The advice we hear is to postpone your retirement as long as you can – it will give you more time to save more money and build your Social Security benefits – which will give you more money to enjoy in your retirement.
  3. Don’t do any retirement planning before you retire. Sure, it seems like a lot to ask to concentrate on retirement planning while you are still working and have so many irons in the fire. But taken in small doses, you can accomplish important spade work that can improve your future retirement happiness. Here are 2 things that are easy to do along that line. First, take the quizzes in our Free Baby Boomer Guide eBook. We’ve had tremendously positive feedback from members who have used them as a starting point to tease out their own retirement priorities, as well as discuss them with their spouse or significant other. Second, devote a fraction of your existing vacation, weekend, and business trips for retirement scouting. Every time you travel, investigate the towns on your route as a potential “best place to retire”. Look around, ask people questions, take a tour through any active adult communities that might be in the area. Take notes, and even consider a plus and minus spread sheet you can refer back to.
  4. Don’t put your adult children ahead of your retirement needs. You’ve probably made a lot of sacrifices for your children, including putting them through college. They might or might not have turned out as successful as you had hoped, but now your retirement security is more important. Don’t cosign on a loan that jeopardizes your financial future. Don’t give them gifts or loans that are more than you can afford. If you don’t save everything you can now it might mean you have to struggle on a poverty level Social Security benefit. It might be difficult to draw the line, but if you don’t take care of yourself now, no one else is going to.
  5. Don’t buy before you live there. We hear this so often – “If I had just lived there for a while I would have realized….” Sure it’s easy to get caught up in the excitement of a community that seems to meet your every need and desire. But once the reality of living there comes, it might be too late to realize that it’s too far to drive for a quart of milk, that your neighbors have political views very different from yours, that the nearest town doesn’t have the amenities you wish it had, or that the medical resources are scant and far away. It can be difficult, but not impossible to live in a place before you buy. But if you can’t, make multiple visits, read local newspapers online, interview your neighbors and friend who might live there already, and at least take a “Stay and Play” package. Otherwise it is just too risky.
  6. Don’t take care of your health. You’ve heard the expression, if you don’t have your health you don’t have anything. Sometimes it takes a bad accident or sudden heart attack to realize that. But your retirement dreams can go out the window in a second with the diagnosis of a life-threatening illness, or a medical condition that proscribes the activities you want to do. Not to mention the extra expense and hassle that dealing with the condition entails. So for goodness sake, protect your health. Go to the doctor and get the examinations and preventative tests you should. Follow a regular exercise program that your health permits. Cut down your risks: lose the extra weight, stop the smoking, keep drinking within the recommended limits. And we hope that translates into a long and happy retirement for you!

NOTE: When thinking about Number 5, I wanted to mention that Colonial Heritage has a Discovery Package – a weekend in one of the homes so that you can experience the property, the lifestyle, and your neighbors. If you would like to book a Discovery Package, please do so with me; I would love to help you get started with the “before you live here!”

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rolf kramer, real estate, Williamsburg, VA



Rolf Kramer, REALTOR®, ABR, SRES, e-PRO 757-564-4455 Licensed in Virginia with Liz Moore and Associates, 5350 Discovery Park Blvd, Williamsburg, VA 23188 Williamsburg has become a Mecca for retirees over the past dozen years because of its history, charm, vacation amenities, proximity to major cities and airports, and affordable cost of living. Check out for information about the Williamsburg community, lifestyles available, and search for homes for sale.


Author: retiringinwilliamsburgrolfkramer

Licensed in Virginia with Liz Moore and Associates, 5350 Discovery Park Blvd, Williamsburg, VA 23188 Williamsburg has become a Mecca for retirees over the past dozen years because of its history, charm, vacation amenities, proximity to major cities and airports, and affordable cost of living. Check out for information about the Williamsburg community, lifestyles available, and search for homes for sale.

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