Retirement is often imagined as a period of comfort and security — a time to travel, spend more time with family, and enjoy the fruits of decades of work. Yet, the reality for many retirees is more complicated.

Small misunderstandings and common assumptions, if left unchecked, can lead to major financial shortfalls. Some people underestimate how much they’ll spend, others put too much faith in Social Security, and many are caught off guard by healthcare bills or the impact of inflation.

The good news is that each of these traps can be avoided with some clear-eyed planning. Continue reading 10 Costly Retirement Planning Myths and Mistakes — and How to Avoid Them →