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 Unfortunately, the clichés of retirement advice haven’t changed much, and many are badly outdated.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.

Believing that a certain dollar amount is the main factor that determines your retirement success may be misleading.

$1 Million in the Bank Equals Retirement Success

You must avoid falling for expensive insurance and annuity sales tactics that are too good to be true. Variable annuity sales increase when the stock market has declined.

Annuities and Whole Life Insurance Will Protect Your Income

The dumbest piece of advice nowadays is that your morning Starbucks and Netflix subscription is what’s stopping you from buying a house.

You Can’t Afford a House Because of Your Starbucks Habit

Take advantage of the early retirement years before RMDs begin to either spend down some of those tax deferred accounts.

Always Withdraw From Taxable Accounts First

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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