Thirteen Myths about Retirement

Do any of these apply to you? Maybe it’s time to change your thinking!

1) There will be lots of free time – that will be so filled up you won’t have any free time.

2) Retirement means you have to move – unless you like your home and can maintain it and the location is convenient.

3) Your taxes will be lower because your income is lower – except you might not have deductions like you did before.

4) Social security has you covered – except it was never intended to be a primary source of income in retirement, it was intended to supplement.

5) You need 70-80% of your income to retire – actually, everyone is different depending on expenses.

6) You choose when you want to retire – well, you may also have health concerns and retire early or love your job and decide not to retire.

7) You should put money in a college saving account before you put money in a retirement account – um, why?

8) Medicare will cover healthcare expenses – uh, I am sure you have heard about the healthcare issues in this country the last 10 years or so…

9) You don’t need a will if your home is in a trust – well, if you home is the only thing you own I can see how you might think that but there is more to it so look into it.

10) My home will be my retirement nest egg – or so you may have thought but don’t count on it.

11) If you own a one level home you can stay until you die – or want something in a different location or with different amenities or…

12) I can play it safe and just put money in savings/low risk bonds – unless you are an expert in retirement planning you could get better advice from a trusted adviser.

13) Moving is too hard – unless you want changes to your cost of living, access to preferred health care, cultural and recreational amenities and climate. Neighborhoods change, friends and adult children move away, suburban homes don’t often have an environment that promote close community activities with your peers or you are just sick of your current home and/or the maintenance. 


Ready to move? Call me! Need referrals to financial advisers and planners? I can help with that too!