Scott A. Bishop, Executive VP – Financial Planning, STA Wealth Management: Not having a “true retirement budget … the exact monthly spending and annual spending (like property taxes at year-end) … broken down into mandatory (like eating) and discretionary (like vacations) and debt to be financed (like car or mortgage loans).” Also not accounting “for the ‘tax drag’ of savings if most of the money is in pensions, 401(k)s and IRAs, which can take 20% to 40%+ of money away in each distribution.” Jon Ulin, Founder and Managing Principal, Ulin & Co.