Retirement Reality Check: 5 Common Myths About Retirement Finances Debunked

Myth 1 You can live off Social Security alone. Reality is it only provides around $20K per year.

Myth 2 Maxing out 401(k) match is enough. Experts recommend saving 15% of income for retirement.

Myth 3 You'll work through retirement. But you should only work if you want to, not because you have to.

Myth 4 Medicare covers all medical costs. It doesn't cover deductibles, copays, long-term care.

Myth 6 You can guess your way to retirement. Work with a professional for a solid financial plan.