Older friends laughing

Congratulations on Your Retirement…Now, Don’t Go Broke!

Being newly retired is definitely a reason to celebrate — and spend — some of the hard-earned money you’ve saved over the years.

Yet with Americans living longer, experts say you need to plan for a retirement that could last 30 years or more. Add in ever-rising medical costs, mostly stagnant Social Security checks and all of a sudden that pile of cash doesn’t look so big.

Authors Katie Young and Sharon Epperson lay out some rookie mistakes to avoid so that you don’t run out of money iin retirement.Click here to read the full article and view the video from CNBC.