October 29, 2012

10 Common Myths That Could Be Hurting Your Retirement Planning



Are you suffering from common misconceptions about retirement planning?

1. It’s too early to start saving for retirement. 
2. I’ll need about 80% of my current income in retirement.   
3. I won’t see a dime from Social Security. 
4. If I contribute to a retirement plan, my money will be all tied up.   
5. I should automatically roll my retirement plans into an IRA when I leave a company. 
6. I can’t contribute to an IRA because I have a retirement plan at work. 
7. My income is too high to put money in a Roth IRA.   
8. My tax rate will be the same in retirement so I don’t get any benefit from tax-deferral. 
9. I can be well-diversified by just spreading money around all the options in my retirement plan.   
10. I should invest my retirement account in the top-performing funds. 
Check out the advice of  Erik Carter, JD, CFP® at


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