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News Summary: Retirement planning myths punctured

The Associated Press

MYTHS ABOUND: It's easy to get fooled by some of the many myths about retirement planning, often passed along unwittingly by well-meaning family or friends. Taking bad tips for granted could cost you.

DON'T BELIEVE IT: Don't assume what you hear from others is accurate: Medicare won't take care of almost all health care needs in retirement, and you can't claim Social Security early at age 62 and still get full benefits later.

TARDY SAVERS: One myth many fall victim to that it's OK to postpone saving in earnest for retirement until other needs are taken care of.