We all make mistakes. But some errors can come with a hefty price tag.

This great article from Yahoo outlines some of the most common money mistakes seniors make. The problem with these decisions is they can have a major impact on your standard of living.

Some can put a dent in your savings, while others can leave you with less income. There’s nothing wrong with making a mistake, so long as you acknowledge and correct it. While some people may not suffer from all the decisions mentioned in the above article, it’s wise to check and see if you do, just in case.

Remember, we offer retirement and financial planning tips every week. We work hard to help you secure your retirement. In addition, we work to protect Social Security benefits — sign our petition to make fair yearly cost-of-living adjustments (COLAs) a tradition. We would greatly appreciate your support.