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Episode 3235:
Darrow Kirkpatrick dispels two common myths that can sabotage your retirement planning: that Social Security will cover your needs and that you need millions to retire. With clear data and personal insights, he explains why self-reliance and realistic expectations are key to designing a secure and fulfilling retirement.
Read along with the original article(s) here: https://www.caniretireyet.com/3-great-misconceptions-retirement-saving/
Quotes to ponder:
"You need to plan on providing mostly for yourself, rather than relying on others, including the government."
"Even if full Social Security benefits were preserved, they would likely be unable to cover all of your retirement living expenses."
"There is little risk to an advisor in you working 5 or 10 years longer and dying with a few extra million on hand."
Episode references:
NewRetirement Retirement Planner: https://www.newretirement.com/retirement/planner
Social Security Administration: https://www.ssa.gov
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Optimal Finance Daily - Financial Independence and Money Advice