Saving for retirement is hard. Knowing how to spend it down is harder.

[PoindexterOglethorpe]

6. At least your pension is funded.

Too many companies and government entities don't properly fund their pensions, leaving retirees high and dry. I have one of those. Getting a pension that's a bit less than a third of what it should be because the company couldn't be bothered to fund it, declared bankruptcy at least twice, then shifted the pension over to the Pension Benefit Guaranty Corporation. At least I never counted on that pension to be very much money, as I only worked there 10 years. Those who worked 30 or more, who fully expected a decent pension in retirement, they're screwed. And this is happening over and over.