Picture your first years in retirement and a lot of happy images probably come to mind: fun times with the grandkids, long-postponed travel and days free of deadlines and schedules.

Sure enough, a recent survey found that roughly 90 percent of current retirees say they are enjoying life, and more than 80 percent say they have a strong sense of purpose.

Before you completely relax into your so-called golden years, you should be aware of the potential financial pitfalls that await as retirement begins. One firm even trademarked the term “retirement red zone” to identify it.