5 easy ways US boomers fry their nest egg and retire poor (even with big savings) — are you making the same mistakes?

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You've worked hard, saved funds and made smart investments. Now it's time to enjoy your retirement — but what if a few mistakes can crack and drain your nest egg?

Building your savings is only part of your retirement plan, and for boomers in particular, there are common financial mistakes that may siphon your savings.

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From disregarding long-term insurance to avoiding investing in alternative assets at all — or even falling prey to increasingly sophisticated fraud attempts — these mistakes can leave you feeling fried and scrambling for additional income.

Here are five retirement mistakes boomers make, and what you can try to make your retirement fund last as long as possible.

One of the biggest mistakes boomers can make is not securing long-term insurance for their health. Long-term care insurance is meant to provide coverage for the costs of in-home assistance, nursing homes or assisted living facilities.

Without proper planning, it can fall on your children to offset costs of unexpected long-term care.

And don't make the common mistake of assuming Medicare (1) will cover the costs, either. Medicare only covers short-term (2) stays. Even then, the process can be expensive and convoluted.

"Long-term care is one of the biggest financial risks people tend to overlook," Christina Donkers (3), an independent senior Insurance Broker and advisor, told Moneywise.

"The purpose of long-term care insurance is to help protect the retirement savings and assets you've worked your entire life to build, while giving you more choices about where and how you receive care."

Donkers has been in the business of insurance for several decades and has seen healthcare costs for long-term facilities and at-home care increase, often leaving boomers with an expectation of what something should cost versus the reality of rising prices.

"If someone needs care for two to three years, they could quickly consume $200,000-$300,000 or more of their retirement savings," Donkers said.