The 1 Retirement Myth You Can't Afford to Believe
Many seniors wind up financially stressed in retirement, and in some cases, it boils down to poor planning. But even those who try to plan for retirement often fall victim to one giant myth that throws their financial projections off-course.
It's the myth that you'll pay less in taxes during retirement. Many seniors assume that once they stop working, their tax burden automatically shrinks, and in some cases, that does indeed happen. On the other hand, some seniors find that their tax rate increases during retirement, and it's that very scenario you'll need to prepare for.
Many seniors are forced to live on a fraction of their former earnings once they stop working. But that's not true for everyone.
Source Fool.com
