Planning for retirement is crucial, but myths can lead to costly mistakes. Taking Social Security too early reduces lifetime benefits. Waiting until full retirement age is key. The “4% rule” is not foolproof; adjust withdrawals for inflation. Compare fees, as 1% can cost up to $100,000 over time. Medicare enrollment penalties can be steep, so enroll on time. Lastly, Medicare does not cover long-term care; consider insurance early.

Read more at Yahoo Finance: 5 Retirement Myths That Could Cost You $100,000