3 Bogus Pieces of Retirement Advice to Ignore

In the course of your retirement planning, you may come across advice from well-meaning individuals hoping to lead you down the right path. But some of the advice you'll hear is not only out of touch with reality, but also downright dangerous. Here are some specific tidbits you'll absolutely want to ignore.

You may have heard that Social Security is rapidly running out of money and that the only way to get a piece of what the program owes you is to claim benefits as soon as you can. But that's far from the truth.

Social Security is indeed facing an income shortfall. Once its trust funds run dry, which may happen in a little over a decade, it may not have enough incoming revenue to keep up with scheduled benefits. If lawmakers don't come up with a fix to that problem, benefit cuts may be in store.

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Source Fool.com