My late grandfather used to say he would retire when he was dead. True to his word he worked until the day he passed away at 84. Like my grandfather before me I have no intention of stopping work and will probably die at my keyboard with emails from editors about missed deadlines piling up.
Find out now: How much do I need to save for retirement?
Retirement Myth 1 – Retirement is Like Vacation
The fact of the matter is retirement can be a lot more like work than vacation. Many people put a lot of effort into trying not to be bored. Sure sitting on a beautiful beach or fishing or whatever you like doing on vacation is a great while you're on vacation but when it's all you do every day, it can start to get tired.
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Vacations are something we look forward to and have a choice about. Retirement has no such choices. One day rolls endlessly, mindlessly into the next. Don't take my word for it. Think about your last great long vacation and how by the end of it you wanted to go back to work, to your life.
The Solution can be as simple as retiring from one job or career and starting a new one. One way to look at it is to think of your work-life before retirement as working for someone else and your work-life after retirement as working for you. Working at something you are passionate about is great way to slow the aging process and stay active. Because you're "retired" you can do it on your own terms.
Retirement Myth 2 – No Money Problems
This retirement myth comes about from the misconception that life magically becomes less expensive when you retire. It doesn't. Food, fuel, clothing all cost as much as before you retired and what you save on commuting you're likely going to want to spend on keeping busy.
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Retirement also means increased medical expenses not because retirement is physically taxing or otherwise hazardous to your health but because you are older and body parts start wearing out faster. Older bodies are like classic cars, in order to keep moving down the road they need a little more TLC.
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