3 Retirement Assumptions That Could Leave You Broke

In the course of your retirement planning, you may make certain assumptions -- that you'll be able to work until a certain age or that your investments will grow in a certain manner, for example. But there are a few assumptions you really can't bank on. Buying into the following beliefs could leave you cash-strapped during your senior years.

Many people figure that living will cost a lot less in retirement. But why? Aside from not having to pay to commute or fund a retirement account, the bulk of your pre-retirement expenses are likely to stay the same. Some, in fact, may go up, like healthcare and entertainment (not having a job means potentially spending more to occupy your time). Outline your expenses so you know how much monthly income you'll need to stay afloat. That'll help you assess how you're doing savings-wise.

Image source: Getty Images.

Source Fool.com