Some people just assume that retirement is the same for everyone—you move into an assisted living facility, you join a bowling league, and you start getting passionate about Bingo. While this may be true for some people, retirement doesn’t look the same for everyone. In fact, there are many myths about retirement that you might not even realize. Take a look at some of the most common misconceptions about retirement, that after knowing, may change the way you see things.
You Need to Have a Specific Number of Dollars Saved
It goes without saying that retirement doesn’t look the same for everyone. Therefore, the cost of retirement for one person may look completely different from another one. Many people believe that you have to have one specific amount of money put away, or your retirement is a failure. However, the truth is that the amount of money you should save will be a direct reflection of your overall lifestyle.
If you’re someone who lives quite a simple life and doesn’t need much, then obviously you’re going to need less than the person who prefers a more luxurious lifestyle. The same goes for people who live in different parts of the world. Someone who retires in India won’t have the same living expenses as someone who retires in New York. There are many different factors that go into how much you should save for retirement.
You’ll Sleep More
Many people assume that older people require more sleep, and as such, they’ll spend more time sleeping. Yet, contrary to popular belief, older adults find themselves sleeping less in many cases. As you age it gets harder to fall asleep and stay asleep. So before you assume that you’ll be spending your retirement sleeping in every day, you might be surprised to find that you’re waking up earlier than you ever did during your working years.
You Can’t Teach an Old Dog New Tricks
Don’t assume that once you’re stuck in your ways there’s no getting out of them. Getting older doesn’t have to be about settling into your habits for the rest of your life. For many people, retirement can be a rebirth of sorts, and an opportunity to learn new things, try out new mentalities and lifestyles, and challenge yourself more than you ever did before. Many retired people find that retirement is the perfect time to try out new things, and purge old ways of living that are no longer serving them. In other words, old dogs really can learn new tricks!
Your Memory Will Disappear
While your chances of dementia can increase as you get older, it’s not automatically sure that you’ll forget everything. Many older adults keep their memories sharp by practicing brain exercises, and visiting the doctor regularly to address any issues they feel are becoming a problem.
Remember, aging looks different for everybody. Your retirement will be your own unique experience, and no one can tell you otherwise. The best you can do is plan ahead, and practice healthy habits and you’ll increase your chances of a fantastic retirement!