Myth #1: “I’ll spend a lot less in retirement.”

Some retirees do spend less, but others spend the same—or more—especially in the early years when health and travel goals are still a priority. It’s important to build a flexible plan that accounts for lifestyle preferences and unexpected expenses.

Myth #2: “I don’t need to worry about taxes once I stop working.”

As mentioned in our article on tax traps, taxes can remain a significant part of your financial picture—especially with required distributions, taxable Social Security benefits, and capital gains.

Myth #3: “Medicare will cover all my health care costs.”

While Medicare covers many services, it doesn’t cover everything. Premiums, deductibles, prescription drugs, dental, vision, and long-term care are often out-of-pocket expenses that should be factored into your plan.

Takeaway:

Believing these myths could impact the sustainability of your retirement income. The best defense is education and personalized planning.

Not sure if your retirement plan is built on sound assumptions?

It’s easy to fall into common traps—but a second opinion can bring clarity. If you’d like to stress-test your current plan or explore better-aligned strategies, Jason’s here to help. Just click the button below to schedule a conversation.