While saving for retirement should be a priority among all consumers, regardless of their age, too many Millennials and even Gen X-ers mistakenly believe they can easily catch up when they are ready.
Waiting until your sizable credit card debt or student loans are paid off entirely could lead you to work for several more years since it will take them longer to reach your goal. Even saving a nominal amount each month in an IRA or 401(k) will add up quickly because of the magic of compounding interest and the tax savings.
But one sure-fire way to stifle your retirement plans is to drink the Kool-Aid of retirement planning falsehoods that exist out there. The only solution is to arm yourself with awareness about these traps and misdirected opinions and learn how to steer clear of them. Here are ten common retirement myths and why following them is not an effective strategy to building up an adequate portfolio once you stop working.
With real estate prices and health care rising, and with interest rates on an upward spike as the U.S. economy gathers significant strength in 2017, retirees - and near-retirees - may wonder just how far their household dollar may stretch in retirement, especially here in the U.S.
One antidote is to do what 400,000 retirement-minded Americans are doing and find a comfortable, affordable landing spot overseas.
After all, Florida and Arizona aren't the only places on earth with plenty of warm sunshine, palm trees, good food and friendly people - they just happen to be among the most expensive retirement destinations.
Change that dynamic, passport in hand, by opting for one of the global locales to add some international luster to your golden years - straight from the mouths of ex-pats who live there.
Editors' pick: Originally published June 7.