Myth No. 2: Retiring is a walk in the park

Retirement is not a piece of cake, although many seem to think so. According to sociologist Phyllis Moen, “people spend more time planning a wedding than planning retirement,” without fully understanding how dramatic their life will change.

“It’s actually disorienting for some people,” Schneider says. “There’s an adjustment phase.” It doesn’t just happen overnight, like you’re working on a Friday and retired on a Monday fully prepared for the retirement life, with an action plan and a detailed retirement strategy.