3. Cashing out Pension too Soon
Be careful and do not be swayed by empty promises of a greater return once you put your cash on some certain investment vehicle. Do not let other push you to cash out your whole pension. This is one of the worst things to do if you are a mature person. No one can predict investments. You might never find one that would pay more than (or at least as much as) the pension. Those who cash out on a pension early usually experience trouble. Be wise while weighing your options. The longer a person lives, the more benefits he needs. If you cash out too early, expect to miss out on the benefits of the pension.