2 Common Myths About Retirement
It can be easy to make assumptions about retirement planning that are inaccurate, outdated, and simply incorrect. Consulting with Matt Dixon, a Registered Financial Consultant in Greenville, SC, is a simple and effective way to make sure you have the right information.
There are many common myths or assumptions about retirement. Matt Dixon uses an approach to planning that addresses these issues and helps people throughout the Greenville, SC, area to create a customized retirement plan that meets both their current financial needs as well as their future retirement goals.
Myth 1: Your expenses decrease in retirement
It is not uncommon for blogs, articles, and commentary on retirement savings to indicate that retirees have fewer expenses as they age. While there is some truth that specific types of expenses may decrease, other categories of expenses are likely to increase, some dramatically.
One area that Matt Dixon focuses on are healthcare-related costs. This can become a critical financial issue if there is long-term assisted living or nursing home care required.
Myth 2: Everyone wants to retire early
Retirement is a very personal decision. In the USA, most people, about 69%, retire before the age of 65. However, there are a significant number of people that continue to work full or part-time into their 70s.
Retirement planning for those who choose to continue to work differs from those who want to fully retire and travel or spend time doing things they enjoy. Individualized retirement plans can create the ideal retirement investment for your needs.