It is a myth!

Planning for retirement takes a lot of factors into account and there are a lot of myths to plan for that many neglect. These myths can ruin a retirement – let’s look at a few so your retirement will not be ruined.
Your income needs will drop.
Many people think because they will not be commuting, wearing dress clothes, or having business lunches, their spending will decrease. This is a big myth. Hobbies, travel, and especially heath care costs will add more in the expense column than any suit or commute will ever add. You should plan on your retirement income starting at as much as 80% of your pre-retirement expenses just to be safe.
You will work past “standard” retirement age.
For many of us today, a family health crisis, especially from our parents, as well as how much we have saved, means we are working longer than first expected. As many as half of those who wish to work past the standard retirement age actually do. Layoffs, as well as the reasons previously mentioned, are the biggest causes of retiring earlier than planned for.
You will only need to draw 4% from you accounts to maintain your retirement.
Inflation does not stop for the retiree. Many people are living much longer than in past generations and health care costs are rising at a pace faster than inflation.
If you plan for the worst, you will be prepared for the best in retirement.

disclosures:http://www.hechteffect.net/?page_id=31