Photo by Towfiqu barbhuiya on Unsplash

When you plan for retirement, it’s important to have realistic expectations. Retirement is an exciting new phase of life, but it can also be very different from what pre-retirement life looked like. Do not fret as this will help clear up some misconceptions about retirement and the lifestyle adjustments many think will occur.

Here are five common misconceptions about retirement:

1. Retirement is a time to relax and take it easy.

A life where relaxing is the only agenda for the day, and now have time to do the mundane chores without attaining to several other parts of life. That sounds wonderful, no? Actually it is not all peachy keen as one may believe. More often than not retirees can feel unimportant and believe they don’t have a sense of purpose anymore.

Money may play a part in continuing to work after retirement, but lest not forget the importance of stimulation and a sense of purpose to oneself. Often the happiest retirees are the ones working volunteer part-time gigs to maintain the stimulation and sense of purpose in this world.

2. You’ll have plenty of time and money to travel.

One of the more common themes among retirees is that urge to travel and while retirement is a great time to do that, it also isn’t the easiest time. This is because as we age health care gets more expensive which can cut into the travel budget.

Another issue with travel is the ability to get to places for the travel to occur, whether that is walking through an airport or walking around a city with all of their historical monuments because as we age it becomes harder to get from point A to point B.

3. You won’t need to worry about money.

Money is often one of the most stressed about matter as a retiree. Some things to consider during retirement is how much is saved for retirement, what are the monthly expenses, and when is the best time to draw social security.

A good starting point is to talk to a financial planner as they can help guide to the correct amount that is needed to be save depending on the lifestyle one wants to live after retiring and throughout the retirement cycle.

4. Healthcare cost will go way down.

People often think once 65 years old has been reached, medical bills will be taken care of by medicare. However, that is not the case as medicare often covers less than fifty percent of retiree’s medical bills.

Some people might have insurance through work but for that insurance to carry over into retirement could be a surprise. Less than a quarter of companies offer insurance offer medical benefits to retirees.

5. Retirement is only for a short period.

Retired Man Sitting On a Bench

Photo by Huy Phan on Pexels

This misconception can get a retiree in trouble because while retirement could be short, it could be a long time as well. The average life span is about 78 years old, and if retired at 65 that would be 13 years. The amount of change in 13 years of one life is tremendous. This also means that retirees will outlive the average life span, and this could cause downfalls.

Another issue, when considering a significant other is that females live about 6 years longer than their male counterparts.

How to Live Your Best Life in Retirement

Retirement can be scary to think about, but as that time comes keep in mind of the misconceptions that are regularly thought about. Having the tools and knowledge of retirement will help navigate the stressfulness of thinking about this big life change. Issues like finances, hobbies, and living situation are all big parts of the puzzle. If you or a loved one are looking for somewhere safe, relaxing, and low maintenance to retire to, you might consider an assisted living home like Suncrest Senior Living. Contact our team today and schedule your visit today!

Sandyside Senior Living

This information was provided by Sandyside Senior Living in White Lake, Michigan. Sandyside specializes in advanced care for seniors with dementia, Parkinson’s, and all age-related illness.

Interested in learning more about Sandyside Senior Living? Contact Sandyside online, or call at (248) 698-3700.

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PHONE: (248) 698-3700