9 Dumb Pieces of Retirement Advice You Need to Stop Believing

Planning for retirement today is a lot different than it was thirty years ago. Unfortunately, the clichés of retirement advice haven’t changed much, and many are badly outdated.

According to money experts, here is some of the worst advice most people still believe, but you should definitely avoid.

The costs can add up quickly, and adjusting to a new environment is hard, especially one with a new language, currency, and customs. Retiring abroad can be an excellent option for some, but it’s not a decision to take lightly.

Retiring Abroad Will Save You Money

Investors tend to contribute only to a traditional workplace retirement plan or a traditional IRA. They fail to consider opening a taxable account and or a Roth account.

Trying to Predict Future Tax Rates

You don’t get a second chance at retirement, so it’s VERY important to stay strategy agnostic when it comes to retirement and utilize a strategy that is specific to each retiree.

Retirement Strategies Are One-Size-Fits-All

Putting a stake in the sand where you think you may want to be in the future and analyzing the paths to get you there is wise advice, even as life forces you to course correct along the way.

Just Contribute to Your 401(k) and Don’t Think About It

Odds are, if you want your money to last, it’s going to need to grow; not just produce dividends and income.

You Should Only Invest in ‘Income-Producing’ Assets

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