5 Retirement Planning Myths That Could Derail Your Future

Ask most Indians when they’ll start planning for retirement, and you’ll often hear “after 50” or “once the children’s education is sorted”. But retirement is not a one-day switch. It’s a long phase that needs gradual and consistent preparation. 

At Maxiom Wealth, we work with families across life stages. As a SEBI registered investment advisor, we see how false beliefs around retirement often lead to poor outcomes. Here are the five most common retirement planning myths and why they must be set right. 

1. I will work for as long as I want 

This sounds reassuring. But your ability to work may not always be in your hands. Health issues, job market shifts, or family needs could interrupt your career. If you work until 65 or beyond, it is risky. 

Start early so your investments can do the heavy lifting later. Whether you choose to continue working or not, a solid retirement plan gives you that choice. It gives you freedom, not dependence. 

2. My children will take care of me 

This thought comes from love, but it’s no longer practical. With more nuclear families, rising living expenses, and increased mobility, your children will have their own challenges to handle. 

Financial independence is not selfish. It’s responsible. It lets you live with dignity, without leaning on your children emotionally or financially. That’s the kind of legacy worth aiming for. 

3. EPF and PPF are enough 

Provident funds are a good foundation. But they may not be enough to cover 25 or 30 years of retirement. Inflation slowly erodes the value of your savings. What feels like a good retirement corpus today may feel tight tomorrow. 

You need growth in your portfolio. Equity investing through mutual funds or portfolio management services (PMS) gives your money the power to beat inflation. At Maxiom Wealth, we use the LSG framework – Liquidity, Safety, Growth to make sure your money is not just preserved but also productive. 

4. I’ll invest more once I earn more 

This seems logical, but it delays the action. The truth is that even small amounts invested early go a long way. Time matters more than money. 

Let’s say you start investing ₹5,000 a month at age 30. It can grow to more than what ₹15,000 a month at age 45 will grow because of compounding. Don’t wait for the perfect moment. Start with what you can. Use SIPs or structured equity plans with the help of a trusted investment advisor. 

5. Retirement is just about money 

It’s not. Retirement also means adjusting to a new routine, finding purpose, building hobbies, and protecting your peace of mind. That emotional confidence comes when you know your money is working for you. 

When your investment plan is aligned with your lifestyle and risk profile, retirement feels secure, not stressful. A thoughtful advisor helps you prepare not just for expenses, but also for freedom and peace. 

Bonus Myth: My expenses will drop sharply after retirement 

You may stop commuting, but other costs often rise. Health care, travel, gifting, and lifestyle spending can increase especially in the early retirement years when people want to enjoy long-postponed experiences. 

Under-budgeting is one of the biggest planning mistakes. Work with a SEBI registered investment advisor to estimate realistic drawdowns. At Maxiom Wealth, we use our Roots & Wings philosophy to structure retirement portfolios. We invest in companies with strong financials (roots) and sustainable growth potential (wings), so your equity allocation supports a long retirement. 

To sum up: Retirement deserves better than assumptions 

Retirement is too long and too important to leave to guesswork. Ignore these myths. Start early. Invest with clarity. Use structured frameworks like LSG and disciplined stock selection backed by real research. Whether you use PMS or advisory services, work with someone who looks beyond products and focuses on purpose. 

Because when you retire, your investments should keep working so you don’t have to.