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

Myths about Retirement Many People Hold as Truth

20 Jan 2026 · 1 min

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In this segment of the One of a Kind Financial Show, Mike Milligan confronts a pervasive retirement myth: that retirees will live on less and enjoy a cheaper lifestyle. He argues that most retirees actually aim to maintain or even improve their standard of living, citing Tom Hegna’s description of retirement as a "continual Saturday." Milligan explains that factors such as inflation, travel, relocation, and especially rising healthcare costs typically push retirement expenses upward rather than downward. Speaker A reinforces this point by noting that while commuting may cease, doctor visits increase significantly.

This is something that's another big myth.
I'll live less on retirement, won't I? It's a lie, guys, that has been promoted by the financial advisory world and really those around the retirement space for decades now. And I, I hate to be so direct with you about that, but we're here to tell you the truth on the One of a Kind Financial Show. Uh, nobody who retires expects to have a lower standard of living. People want to actually increase their standard of living in retirement. As Tom Hegna says, retirement is just a continual Saturday. And so there's— retirement living is simpler and therefore cheaper is the myth, but inflation, travel, relocation, and healthcare expenses often push those costs up, not down.
Yeah, you may not be commuting every day, but you're going to the doctor a lot more, that's for sure.