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7 Retirement Planning Myths Debunked

When you’re trying to help plan participants move the ball on their retirement planning, the first step can be the hardest: “unlearning” mistaken beliefs. Financial literacy can only be built on a foundation of truth.

Most retirement plan advisors whose practices include a significant “retail” component — working directly with plan participants — have their favorite set of basic educational materials on investing and planning for retirement. A recent consumer-directed article from the Associated Press does a good job of debunking seven myths on saving for retirement and planning for life after retirement — covering basics like Medicare, Social Security, replacement income, target date funds, working in retirement and more. You might want to add it to your financial literacy toolbox.

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