Saturday, July 18, 2009
Myths about Retirement
In planning for retirement, I see many people made wrong assumptions. These then drive 'wrong' attitudes and behaviors which affect the planning for that big decision about retirement. Denial of the importance of planning for retirement in turn lead to these common retirement myths. What are some of these myths? I read an interesting article which I like to share with you.
The article discusses 5 myths each given a descriptive name. The myths are:
Nbr 1: "Scarlet O'Hara" myth - Retirement is still years away. No need to plan now.
Nbr 2: "Homer Simpson" myth - "How hard can it be to plan for retirement?"
Nbr 3: "Carnival Cruise" myth - Retirement is nothing more than one long happy vacation.
Nbr 4: "King Midas" myth - Retirement will be wonderful if only you have enough money.
Nbr 5: "King Henry the 8th" myth - I just going to love spending tons of my time with my spouse.
Retirement is a difficult transition for many people. We need to take appropriate steps to minimize the risk to an ideal retired life.
Treat your own retirement objective like any business objective you have been trained to do all these years in the commercial world. Only difference is, this time you are planning it for yourself.
You will march confidently towards retirement once you understood these myths and start to plan differently. Good luck.
Subscribe to Posts [Atom]
Post a Comment