DON’T BE MISLED BY RETIREMENT MYTHS

retirement-saving

No, You Are Not Growing Old. So it is time to stop telling yourself that story. Of the many myths that can derail retirement, “you have enough time to plan” is the most common. The truth is, retirement is just the beginning. Moreover, age is definitely, just a number. Let’s change the rules of the game and look at retirement from a new perspective. In this blog, we bust the most common golden years’ myths.

Myth #1

You Will Not Find A Good Job

When Asis K. Sanyal retired, little did he know that this would mean the beginning of his lifelong passion for photography. Today, the man makes a living with his passion for the art. Life does not stop at retirement. People at 60 are excited about traveling the world and enjoying the new innings of their life. Because life is just getting started.
*Source: Business today.in

Myth #2

Retirement Planning circles Finances

The truth of the matter is, it does not. Most retirees are busy planning activities that revolve around retirement than merely keeping a track of their passbook. Growing opportunities and enhanced lifestyles have spawned the need for better planning of the retirement years. People are thinking about travel plans, part-time jobs, pursuing hobbies and more.

Myth #3

Expenses Will Be Lower In Retirement

You will be surprised to know that out-of-pocket expenses shoot up in retirement years. Moreover, the reasons are obvious. When you have so much time in hand, there are more reasons to spend money. Many retirees spend a major chunk of their budget on traveling places they otherwise didn’t have the time for. With a change in lifestyle, there’s suddenly more time for so much more. Moreover, as they say, nothing comes for free!

Myth #4

You can plan later.

This is one of the most dangerous myths. The one thing you need to know about retirement is—plan ahead of time. Your pension amount money will help you if invested way before time. Investing later would mean, whittling down the wish list in the retirement years. The rule is simple; you do not get a loan for retirement. So use those finance skills while you are still working and invest smart.

Myth #5

Too Late To Buy Another House

Are you always being warned against investing in a property post-retirement? It is time to think smart and act smarter. The fact is, property investment is one of the safest deal you will strike after your working years are over. The good news is, you can invest in a retirement home and get away from the hustle bustle of city life when you enter the golden years.
Don’t let those myths pull down your spirits post retirement. Think bigger. Think better!

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