Individual retirement accounts (IRAs) are one of the most popular ways to save for retirement. Opening one and making contributions can feel like you’re on the right track to securing your future. However, many people discover later that simply setting up an IRA isn’t enough and small missteps along the way can lead to costly regrets.

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GOBankingRates spoke to Jay Zigmont, financial advisor and founder of Childfree Trust, who shared the below five things people often regret doing with their IRA.

Also here’s a big retirement myth that could ruin your plans.

The first mistake often happens right after funding an IRA. Many people think once the money is in the account, that’s it.

“The biggest thing people regret with their IRA is not investing it,” Zigmont said. “The first step is to fund your IRA, which involves depositing money into it. Then you actually need to invest it in the market. If you put your money in your IRA but don’t invest it, it won’t grow.”

Your IRA gives you access to stocks, index funds, ETFs and mutual funds. And if your goal is to make your money work for you, then invest the money you contribute.

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Life happens. Whether it’s a sudden job loss or an unexpected expense, withdrawing from your IRA before retirement is a costly mistake.

“When you withdraw before 59 and a half, you will have to pay a 10% penalty and taxes on the withdrawal,” Zigmont said. “The point of an IRA is to be there when you retire. During tough times it can be tempting to withdraw from your IRA to make ends meet.”

Pulling money early not only shrinks your retirement savings but also costs you in penalties and lost compound growth.

Not everyone can freely contribute to a Roth or traditional IRA. If your income is too high, you may not qualify, or you may only be allowed to contribute a reduced amount.

“It is essential to know that you must both have earned income and not exceed the limit before contributing to your IRA. There are income limits for both Roth IRAs and traditional IRAs, depending on whether you are covered by a 401(k),” Zigmont explained.

A backdoor Roth IRA can be a great way to get around income limits, but it’s not simple. “Making a backdoor Roth contribution when you are over the income limit requires detailed steps and tax filings that are often overlooked. Backdoor Roth contributions are popular but can be complicated, especially when filing the IRS Form 8606,” Zigmont said. Even small errors can trigger unexpected taxes, so it’s best to work with a professional if you’re unsure.