New analysis shows that many commonly held beliefs about work in retirement are out dated as life expectancy and aspirations improve.

Retirement is no longer being defined as a period of inactivity. According to a study, retirement now has four phases: pre-retirement, career intermission, reengagement, and leisure. This study shows that everyone from policy makers to employers and the financial industry will be better equipped to help people pursue their goals.

Here are some of the most common myths about retirement :

1) Retirement means the end of work

Study confirms that as people live longer and healthier lives, they’ll continue to find satisfaction from work even after they retire from their primary career. Many people are starting to reconsider whether leaving the workforce entirely for 20 or more years is practical and affordable. Nearly half of today’s retirees say that they have worked or plan to work during retirement