A few pitfalls to prevent during retirement

Assume you have now retired. The day is finally here. You are no longer working to make ends meet. There are no more responsibilities to worry about. The only thing you now have to worry about is what to do with your time. Can you imagine that scenario?

Here is an article on WealthManagement.com that talks about five mistakes that retirees make, but could avoid, with careful planning.

Can you share your thoughts and any mistakes you have made or can think of and how you might prevent them?