Mike MilliganFounder and CEO, 1.oak Financial · Founder and CEO, 1.oak Financial

6 Retirement Myths That Are Costing You Money

17 Mar 2026 · 1 min

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In this brief conversational excerpt from Mike Milligan’s video, two speakers challenge the outdated notion that retirement is simply a time to stop working and settle into a passive lifestyle. They reference classic retirement symbols—gold watches, pension checks, rocking chairs, and early‑bird buffet meals—as stereotypes that no longer reflect today’s reality. The dialogue sets up the premise that many people cling to these myths, which can lead to poor financial decisions, and hints at a more active, financially savvy approach to later life.

Retirement means I'm done. That's the next statement we want to make. What do you think? I don't think so.
Yeah, you used to get, used to get a gold watch for being at the same employer, got a pension check, and got a rocking chair, and you just sat there.
Yeah, there you go. You went out the door.
That's right. And, uh, you know, you, you and your wife would go to an early bird special at 3:30 at the, at the Golden Corral. Nothing wrong with that. I mean, you get the buffet for $3.99.
Exactly.
Well, now, now retirement is often a 25 or 30-year chapter or multiple of your complete book of life. Labor, labor force participation for Americans 65 to 74 remains far higher than it was 20 years ago.