Why We’re Talking About Money Myths
Welcome to “Money Myths Retirees Still Believe”—a fresh, down-to-earth look at the hidden beliefs that can quietly sabotage your financial peace of mind.
If you’ve ever felt a twist in your stomach after watching the evening business news … if you’ve wondered whether your nest egg is “enough” … if you’ve caught yourself saying, “I’m just not good with money,” then you already know how powerful money-stories can be. They shape our choices—even when the facts point in another direction.
The trouble is, many of those stories are leftovers from our working years or half-remembered advice from friends, brokers, or talk-radio hosts. They sound reasonable. They often come wrapped in authority. And because they feel true, they can be harder to spot than a typo in yesterday’s crossword puzzle.
Yet, in retirement—when your paycheck stops and every decision echoes a little louder—believing the wrong story can:
- Push you toward risky investments or, just as dangerously, keep you huddled in low-yield cash.
- Nudge you into paying high fees for “sophisticated” products that aren’t built for your real-world needs.
- Leave you sleepless during market swings or reluctant to spend the savings you diligently built.
Inspired by Morgan Housel’s The Psychology of Money, this blog series sets out to gently debunk the twenty most common—and costly—misconceptions retirees carry around. Each post is short, practical, and free of Wall-Street jargon. Think of them as friendly fireside chats that swap anxiety for clarity and empower you to act (or not act) with confidence.
So, if you’re already retired—or nearing the big day—and you want to swap confusion for calm, you’re in the right place. Grab your favorite mug, settle in, and let’s rethink money … together.
The 20 Myths We’ll Unpack—And Why They Matter
Below is the full roadmap of myths we’ll tackle over the coming weeks. Bookmark this page, share it with a friend, and use it as a quick reality check whenever a headline—or a neighbor’s hot tip—starts raising your blood pressure.
1. “I Need to Beat the Market”
It’s tempting to treat investing like a high-score contest, but retirement isn’t a race. Chasing benchmarks often leads to taking more risk than your lifestyle requires. True success is paying your bills, sleeping soundly, and watching your money outlast you—not bragging rights at the next potluck. Read more…
2. “If It’s Complicated, It Must Be Better”
Variable annuities, structured notes, and alphabet-soup ETFs can sound impressive. Yet complexity tends to hide high fees and opaque rules. Most retirees thrive on plans that are clear, low-cost, and boringly dependable—because boring is beautiful when it comes to steady income. Read More …
3. “Cash Is Trash”
Yes, cash loses a little purchasing power to inflation, but its real value is flexibility. A healthy cash cushion keeps you from selling stocks in a downturn, covers surprise expenses, and lets you ride out storms without panic. Read More …
4. “Past Performance Predicts Future Results”
Last year’s “Top 10” fund rarely tops the next list. Markets rotate; yesterday’s darlings become tomorrow’s laggards. Basing decisions solely on recent returns is like buying winter coats because July was chilly—you’re planning for the wrong season. Read More …
5. “More Information Means Better Decisions”
From round-the-clock news to smartphone alerts, we’re drowning in data. After a point, extra input creates noise, not wisdom, and can trigger knee-jerk reactions. A simple plan you trust usually outperforms a constantly tweaked one driven by headline anxiety. Read more …
6. “I’m Too Old to Take Any Risk”
Avoiding all volatility feels safe, but inflation silently erodes ultra-conservative portfolios. The sweet spot is measured risk—diversified dividend funds, bonds that ladder over time, and assets that grow just enough to keep your purchasing power intact. Read more …
7. “The Market Is Rigged”
Believing the deck is stacked can push you toward dubious private deals or make you freeze altogether. While markets are imperfect, long-term evidence shows disciplined investors are rewarded. A well-diversified, low-fee portfolio still tilts the odds in your favor. Read More…
8. “Real Estate Is Always Safe”
Homes and rentals can build wealth, but they’re illiquid, local, and expensive to maintain. Property values can—and do—drop. A house isn’t a magic shield; it’s one asset class among many, best balanced with income and liquid investments. Read More …
9. “If I Just Had More Money, I’d Feel Secure”
Peace of mind rarely comes from an extra zero on an account statement. It comes from clarity—knowing your bills are covered and surprises won’t sink you. Organization and right-sized spending beat raw dollar totals every time. Read More…
10. “Debt Is Always Bad”
High-interest credit card balances? Definitely dangerous. But strategic, low-cost debt—think a modest mortgage or a reverse mortgage line of credit—can free cash flow, lower taxes, or fund home improvements that support aging in place. Read More
11. “It’s Too Late for Me to Change”
Whether you’re 55 or 85, you can still simplify accounts, trim fees, or adjust risk levels. The past is set, but tomorrow’scomfort depends on the decisions you make today. Read More …
12. “All I Need Is a High Yield”
That 11% dividend stock may look like easy income, but sky-high yields often flash a warning: unstable business, shrinking profits, or looming cuts. Sustainable, moderate yields paired with growth potential keep checks flowing and stores of value intact. Read More …
13. “The Government Will Take Care of Me”
Social Security is invaluable, but it is designed to replace only a portion of your income. Medicare still leaves gaps. Counting solely on federal programs can lead to budget shortfalls; building additional streams of income helps protect your lifestyle. Read more …
14. “I Can Time the Market”
Even professionals rarely buy at the bottom and sell at the top. Jumping in and out based on gut feelings usually means selling low and buying high—the opposite of what you want. A steady, rules-based approach wins over crystal-ball strategies. Read more …
15. “I’ll Just Spend Less in Retirement”
Expenses often rise—think healthcare, home repairs, or helping grandkids. Hoping you can slash costs later is risky. Better to design an income plan that assumes real-world spending, with buffers for life’s inevitable surprises. Read More …
16. “I Need a Financial Advisor Who Sounds Smart”
Fast talk and fancy charts don’t equal good guidance. The best advisor is a teacher at heart—someone who listens, explains in plain English, and tailors advice to your goals, not their commission schedule. Read More …
17. “I’m Being Careful—That’s Why I Don’t Invest”
Parking everything in CDs or a savings account feels cautious, but over a 20-year retirement, inflation can cut your buying power in half. Prudent investing isn’t reckless; it’s essential to stay ahead of rising costs. Read more…
18. “I Just Want to Leave the Kids a Big Inheritance”
Supporting family is noble, yet draining your own resources can force tough choices later. A balanced plan prioritizes your comfort first—so you don’t become a financial burden—then passes along whatever remains. Read more…
19. “I’m Not Smart Enough for This”
You don’t need a finance degree to manage money wisely. Clear goals, patience, and consistent habits matter far more than complex formulas. When in doubt, repeat: Simple. Understandable. Affordable. Read more …
20. “If It’s Not Growing, It’s Failing”
In retirement, income stability often outranks eye-popping growth. A portfolio that holds steady while paying reliable dividends or interest can deliver far more happiness than one chasing double-digit returns—and enduring double-digit drops.
What to Expect From Each Post
- A relatable story—because lessons stick better when they feel personal.
- The myth, explained—so you see why it’s so persuasive.
- The reality check—evidence or examples that debunk the old belief.
- A practical takeaway—one small step you can apply right away.
Every article takes about five minutes to read and is designed to leave you feeling lighter, clearer, and better equipped to navigate your financial journey.
How to Get the Most From This Series
- Share each post with a spouse, friend, or adult child. Talking through myths helps replace them with stronger truths.
- Reflect on which beliefs feel familiar. Awareness is the first step toward change.
- Act on the takeaways—small shifts often create the biggest improvements.
Ready to Begin?
Money myths lose their power the moment we shine a light on them. Over the next several weeks, we’ll flip the switch—one misconception at a time—so you can trade worry for wisdom and enjoy the retirement you’ve worked so hard to earn.
Let’s rethink money… together.