Don't Buy Into These 3 Retirement-Destroying Myths

Many people think they've planned well for retirement, only to run into financial troubles later in life. If you want to avoid financial stress as a senior, it's important that you not believe these dangerous myths.

Many people neglect to save for retirement because they're confident they can fall back on Social Security during their senior years. But here's a news flash: The average senior on Social Security today collects just a little over $18,000 a year in benefits.

Now, think about your current expenses. Many of them will still exist once you retire, and chances are, $18,000 and change won't be enough to cover them.

Source Fool.com