Many of us think of retirement as a time to live comfortably and travel to different places. While this is true to some extent, you still need to ensure that you can sustain the change in your lifestyle and still be able to make your money work for you. When planning for retirement, it is essential to learn the fundamental steps involved in the process so you can avoid making mistakes that can affect your financial security.

The key to a successful retirement life is to have a clear vision of the kind of life you want to live and to get things right the first time. Because the stakes are high, you want to set your financial goals early and lay out a plan to achieve it.

Below is a list of the most common retirement-planning mistakes that people make:

Making decisions that affect financial options

Many people …