I'm a Financial Planner: 3 Worst Pieces of Retirement Advice You Should Stop Listening To
3 Worst Pieces of Retirement Advice
As a financial planner, I often encounter common misconceptions about retirement planning. Here are the three worst pieces of advice that you should ignore.
1. Relying Solely on Social Security
Some believe that Social Security will cover all their expenses in retirement, but this is a i misleading view. It’s essential to have additional savings.
2. Waiting to Save Until Later
Many think they can start saving later in life and still make up for lost time. This b is a risky strategy, as the earlier you save, the more you benefit from compound interest.
3. The 4% Rule is Foolproof
While the 4% withdrawal rule might work for some, it is not b universally accepted. Changes in markets and personal needs must be considered.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.