Explore the psychology of financial decision-making in retirement, highlighting how cognitive biases can impact withdrawal strategies. Discuss key behavioral finance principles, such as loss aversion and mental accounting, to provide deeper insights into common mistakes retirees make. Illustrate how understanding these psychological factors can lead to more informed and effective financial decisions. Offer practical advice on integrating this awareness into retirement planning for maximizing savings longevity and tax efficiency. Conclude with actionable steps readers can take to mitigate psychological biases in their own financial strategies.