Aug 17
The WSJ published a thought provoking article a while back titled “the retirement lies we tell ourselves”. The basic thrust of the article is that most people have unrealistic assumptions about what it is going to take to have enough money to retire. The “lies” include:
- I’m going to work in retirement
- My home is my safety net
- I can live on 70% or 80% of my pre-retirement income
- My tax rate will go down in retirement
- I am comfortable with debt
- My spouse is taking care of everything
- I’m going to get an inheritance
- I’m going to get a pension — and it’s safe!
- I won’t need long-term care
I’ve been digging around to find an electronic copy, and finally located one here:
http://oldfieldadvisors.com/files/WSJ%20Retirement%20Lies%20We%20Tell%20Ourselves%20121106.pdf
Enjoy!