Fact or Fiction?

When it comes to retirement, even though there is nowadays plenty of information available everywhere you look, people somehow still come to believe in retirement myths, as the truth.

We are therefore going to cover in this article the most publicised myths that people believe in.

Myth #1

Retirement starts after your last day at work. This is a false statement since retirement should be seen as a new phase in one’s life. Like every change, this takes some accustoming to, and it will take you as long as twelve months to adjust and change your lifestyle.

Myth #2

If you think or rather hope that someone will be generous enough to take care of you when you retire, you might want to think again. Social Security will hardly pay your monthly bills, and if you are thinking that your children will take care of you, you should consider that life has changed, and this is increasingly difficult.

Myth #3

The next myth refers to monthly expenses, since most individuals believe that after retirement their costs will be low. You should consider the drying out of Social Security funding, and the fact that the cost of goods continues to rise. Considering that we can expect to live more than 20 years after we retire, this might be a recipe for disaster.

Myth #4

Some people believe that retirement is easy- not true. This period can even give rise to depression since after their retirement, people find out that all leisure and relaxation makes for quite a boring life.

Myth #5

Retirees think that retirement is great since they will get to be with their wife all day. This in reality needs some adjusting to, since couples usually don’t spend more than 20% of their time together. This is why in analysing divorce rates we find that the highest is for couples over 55 years of age.

Reference http://freeretirementplanningadvice.com/elderly-care/busting-the-top-retirement-myths/