The 3 biggest myths about retirement (and what’s really true)

Over the last decade, I’ve had hundreds of conversations about retirement.

And while everyone’s goals look different, the same misconceptions keep popping up again and again.

Here are the big ones:

Myth #1: “I can’t retire until 67.”

Wrong.

That’s the age pension age.

You can retire whenever you’re financially ready — 35, 40, 50, 55, 60.

The key isn’t the government’s age limit, it’s whether you’ve built enough wealth (and have a clear plan) to support the lifestyle you want.

Myth #2: “I’ll just get the Age Pension.”

Not so fast.

If you’re a couple with assets over $1 million (excluding your home), you won’t get a cent.

And even if you qualify later, it often won’t be enough to cover the lifestyle most people want.

That’s why planning to self-fund most of your retirement is so important.

Myth #3: “I’ll spend less when I retire.”

This one trips up a lot of people.

In reality, most retirees spend more in their first 10 years: travel, hobbies, helping kids, renovations, medical costs.

Your spending usually shifts, but it doesn’t magically disappear.

Retirement isn’t about an age or about “hoping” the pension will be there.

It’s about clarity and action.

One quote I always come back to is:

“A goal without a plan is just a wish.”

If you want freedom of choice, whether that’s 55, 60, or 67 the earlier you get a plan in place, the more options you’ll have.

So, here’s my challenge:

Do you know the age you could retire at if you wanted to?

Or are you relying on guesswork and myths?

Contact us with “Retire Ready” and we’ll help you map out a clear path, so you can stop wondering and start planning.

Because retirement isn’t about reaching a finish line at 67.

It’s about being ready when you choose.

7Wealth Pty Ltd ABN 44609210246 is a Corporate Authorised Representatives and is authorised through Cobalt Advisers Pty Ltd ABN 64 628 654 099 who is an Australian Financial Services Licensee 512550. 7Wealth Pty Ltd is a Credit Representative of Australian Finance Group Ltd ABN 11 066 385 822 (AFG) Australian Credit Licence 389087.  
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