We explore eight common retirement planning myths that could potentially derail your financial future and explain why these outdated beliefs may no longer apply to today's retirement landscape.
• The 4% withdrawal rule from the 1990s has been updated to 2.8% by Morningstar research, meaning you need significantly more savings to generate the same income
• Social Security isn't going bankrupt, but its trust fund may be depleted by 2032-2034, potentially reducing benefits by about 20%
• Social Security was designed to replace only 40% of pre-retirement income, not the 70-80% many retirees depend on it for
• Keeping all investments in cash during market uncertainty may mean missing recovery periods and growth potential
• Modern long-term care planning offers alternatives to expensive traditional insurance through integrated financial tools
• Financial planning is a strategy for everyone, not just wealthy individuals, as those with modest savings can also need guidance to maximize resources
• Estate planning can apply to people at all asset levels, and outdated wills may not address digital assets or modern financial considerations
• It's important to review financial plans on a regular basis, as life circumstances, tax laws, and economic conditions evolve
• Many retirees don't drop to lower tax brackets due to required minimum distributions, loss of deductions, and potential tax increases
Visit masterplanretire.com to schedule your complimentary consultation where we'll run retirement outlook reports and stress test your plan, or call 770-980-9262.

Have a topic or question you'd like Mark and Evan to address in a future episode? Email us at [email protected] or call 770-980-9262.
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Advisory services offered through MasterPlan Retirement Consultants, Inc., a Registered Investment Advisor in the state of Georgia. Insurance, tax and commodities services offered through Fricks and Associates, Inc. dba MasterPlan Retirement Consultants. The aforementioned are affiliated companies.

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