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Retirement Half-Truths: Beware of These Potentially Misleading Statements (Part 2)
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When it comes to planning for retirement, there's no shortage of advice out there. Unfortunately, much of it can be misleading or only half-true. That can be a problem for investors because they end up following guidance that doesn’t apply to their situation. Today we continue our two-part discussion on these potentially misleading statements by shedding light on some of the most common retirement half-truths and explain why they might not tell the whole story.
Here’s what we discuss in this episode:
- Half-truth #6: You should withdraw 4% annually from your retirement savings.
- Half-truth #7: Saving just enough to match your employer’s 401(k) contribution is sufficient.
- Half-truth #8: You don’t need a retirement plan if you plan to work throughout retirement.
- Half-truth #9: Medicare will take care of all your healthcare needs after retirement.
- Half-truth #10: Social Security will cover your basic expenses in retirement.
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