3 Retirement Myths, Debunked: Social Security, The Stock Market And Savings

Title3 Retirement Myths, Debunked: Social Security, The Stock Market And Savings
Publication TypeWeb Article
Year of Publication2021
AuthorsTepper, T
Series TitleAdvisor
PublisherForbes
Keywordshome appreciation, retirement risks, stock market returns
Abstract

Retirement should inspire thoughts of mixed drinks on the beach and long afternoons with the grandkids. But for many people, just mentioning the word spurs anxiety.

Younger Americans are waiting too long to put money away, middle-aged workers rarely make up for lost time and people approaching retirement hope to hold onto their jobs long enough to save just a few dollars more.

Most people know they should be doing more to save for retirement, yet too few of us are doing the right thing. As a result, about half of Americans are in store for a lower standard of living and less financial freedom once they quit working and rely on a fixed income.

Part of this looming retirement crisis is driven by a host of common myths and misconceptions about retirement that have seeped into our collective consciousness. Correcting them may help you feel more confident in your ability to prepare for your golden years—and banish those sinking feelings of anxiety.

URLhttps://www.forbes.com/advisor/retirement/retirement-myths-debunked/
Citation Key11458