blunders

Since 1999, Time magazine has ignorantly lauded the blunders of Fed chiefs and their clueless cohorts. No wonder it named Ben Bernanke its Person of the Year.

Common mistakes include opting for a cut-rate policy that can stick you with tens of thousands of dollars in out-of-pocket expenses.

Just because these mistakes are big doesn't mean they're obvious. Being aware of related costs and keeping your goals in mind will help you avoid the traps.