Myth No. 9: You’ll retire when you want to

Not really. According to the 2015 Retirement Confidence Survey from the Employee Benefit Research Institute, almost half of workers in the United States leave the workforce way sooner than planned. For 60 percent of that group, retirement is forced upon them by health or disability problems.

In other situations, people had to retire sooner than expected in response to the company’s downsizing or to take on a caregiver “job” for a member of their family.

Myth No. 10: Retirement planning can wait

“Tomorrow is another day” doesn’t work in your best interest when it comes to retirement. Although many people think they have plenty of time to plan for their retirement, it’s just another myth than can ruin your golden years.

To enjoy a comfortable retirement, you should do things sooner rather than later. For example, to benefit from compound interest and build a comfortable nest egg, you need to start investing your money as earlier as you can. Time and compound interest go hand in hand. Another mistake many people make is thinking college money is more important than retirement savings.  “A student can get a loan for college,” Olavsrud says. “You cannot get a loan for retirement.”