Avoid These 3 Potential Pitfalls to Help Protect Your Retirement Income

Investing is a challenge at any age, but as you near and reach retirement, it becomes especially important to help avoid making mistakes.

When you're younger, you have more time to recover from the loss you suffer on a bad investment or when the market sputters. However, when you are older and your investments are providing your income, it's important to help preserve your nest egg.

That mission may seem overwhelming at times -- but there are things you can do to protect your money and help make it last. Here are three common pitfalls to look out for as you move into retirement.

1. Paying too much in fees.

Why is it important to stay vigilant about fees? Recently, while reviewing an investment portfolio with a potential client, we discovered he was paying 2.32% in fees on a mutual fund he'd