If you’re considering retirement, you’ve probably been inundated with tips and morsels of advice. But it’s important to know much of what’s regurgitated is simply untruth masquerading as truth. And, without a competent retirement planner, it can be impossible to see through the smoke and mirrors. And this can have devastating consequences.

But, at Help You Retire, we’re here to set the record straight. Too many myths are treated as fact. We’ve been providing expert financial advice to our readers for years. And here’s what you should know: what sets us apart is our integrity, honesty, and transparency. Because, ultimately, all we want to do is secure your future.

Here are 4 retirement myths to be aware of.

1. You only need 70%-80% of pre-retirement income

People often think they’ll have lower expenses post-retirement than pre-retirement. They assume they’ll be able to live without some amenities and luxuries they’re accustomed to. And, while it’s true that, in retirement, you won’t be paying payroll tax or be making 401(k) payments, your savings deplete quickly when considering travel, leisure, and day-to-day expenses.

And, realistically, to truly enjoy your retirement, it’s important to maintain the standard of living you’ve come to love. Not make sacrifices. This means you’ll need a competent retirement planner who can replace your annual earnings.

2. Medicare covers all health care needs

Medicare is a federal health insurance program for people aged 65 and older. And, while it’s great for doctor visits and some hospitalization expenses, it doesn’t cover other things like:

• Extended nursing home stays
• Assisted living
• Other forms of home health care

These are realities you can’t truly anticipate facing. Plus, the average 65-year-old couple with average prescription drug expenses needs $265,000 saved. And that’s only to have a 90% chance of having sufficient funds for those expenses in retirement. A good retirement planner will account for such overlooked expenses when considering savings strategies.

3. You can work as long as you need to

While we do have longer lifespans and more years in retirement, and while we’re able to work for longer than ever before, this is one of the most dangerous traps to fall into. 50% of all early retirements are imposed by illness or disability. And this is exponentially more likely for those working in jobs with a physical component, or for those unable to work remotely.

Also, finding good paying jobs later in life is difficult. And, the truth is, things like company layoffs and downsizing are always possible. And it’s often those with the longest tenure at a company who have the highest salaries, rendering them most likely to get the axe. Having a good retirement planner is a great way to avoid relying on the unreliable.

4. It’s too late to start saving

No matter how close you are to retirement, it’s never too late to start saving. With a skilled retirement planner, a manageable percentage of your earnings will be saved and invested. And, by the time you draw on it, you’ll be blown away by the garden grown with what you let them sow. Even if you’re 40, it’s not too late. You just need the right help.

Start saving now to preserve your future happiness

A quality retirement planner will work magic. They’ll alchemize what you think is nothing into something. And that’s what you need to thoroughly enjoy your golden years. There are plenty of myths regarding retirement and savings. But places like the highly recommended OWLFI have the facts. Contact them now to start working with a retirement planner, or simply to get advice.