1) Underestimating the effects of inflation: If you retire on $4,000 month today, in 15 years @ 3% inflation you will need $6,232 month just to stay even with the cost of living. Moral: Don not invest solely in fixed interest investments; build part of your portfolio with inflation hedges, i.e. mutual funds, exchange traded funds, real estate etc.
2) Not properly allocating your investments: Putting all your assets in fixed interest accounts runs the risk of falling behind the cost of living. (See above) Conversely, all your assets in inflation hedges puts your assets at risk of principal loss, at the time of your life you can least afford it. The Watchword here is Balance!
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