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5 myths that could derail your retirement

Santa Claus and money

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Time for a retirement reality check

Belief in Santa Claus is a healthy, long-standing and powerful tradition for many families that reinforces good values. Like the Tooth Fairy and the Easter Bunny, the Santa myth is fun and can help form a child's imagination.

Retirement myths are another story altogether. That's why it's important to avoid being misled by the growing number of myths that cloud the difficult task of preparing for and living in a financially comfortable retirement. The fact remains, however, that many people who are planning for retirement tend to rely on myths about their financial future. Believing can ruin their retirement once it actually arrives. It's time to grow up and stop believing in those retirement myths.

Here are some of the most common myths in retirement planning — and the reality you need to know to overcome them.



By Jim Pavia, senior editor at large
Posted 5 November 2015

Mediaphotos | Getty Images