Retired in America

Your Guide to a Confident Retirement

  • Home
  • Personal finance
  • Retirement Life
  • Saving & Spending

8 Reasons Your Retirement Will Be Tougher Than You Expect

September 7, 2020 · Personal finance

7. Folks might have to retire sooner than they hoped

You might want to work into your late 60s or early 70s. You might even think that nothing short of medical issues would stop you from this goal. But the truth is that many things can stop you in your tracks, such as having to stop working in order to help loved ones, especially adult children.

You cannot sacrifice your retirement for anyone. You only have one chance at getting it right and though it might be heartbreaking to refuse to help someone, you have to worry about yourself first and foremost.

If anything, if your family insists that you help them, especially with money such as for a downpayment on a house or higher education, then you shouldn’t retire sooner than you hope- that is, of course, if you want to help.

Other friends or family members might ask for your time instead, especially if they need someone to help look after their kids. Sure, looking after your grandkids might be a blessing but if you have to put yourself in harm’s way to do it, it might not be worth it.

8. More seniors are single

According to a 2016 study from the Pew Research Center, as many as 12 million adults aged 65 or older live alone! That’s a staggering amount and there may be many different causes- divorce, the untimely death of a spouse or simply going into retirement without a life partner.

No matter the cause, it’s difficult for one person to support a household, especially if they’d been doing it together with a partner for the majority of their lives. You might be more tempted to make financial mistakes, such as using your home equity for nonessentials such as remodeling.

Bounce ideas off others! Talk to family members, friends, or even financial advisers. If you’re heading towards a pitfall they might be able to catch a mistake before it happens!

Pages: 1 2 3 4 5 6

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • A senior woman looking thoughtfully at her phone in a bright, modern home office. 6 Social Security Scams You Need to Pay Attention to
  • A happy retired couple enjoying the sunset on a beautiful porch. 8 States to Retire For Less Than 45K a Year
  • A retired couple looking at a map on a sunny balcony overlooking a beautiful coastal town. 10 Countries to Retire Where $150K Is More Than Enough
  • A happy retiree working on a laptop on a sunny patio, symbolizing flexible part-time work. 20 Great Part-Time Jobs For Retirees
  • A senior couple smiling while looking at a tablet in a bright, modern kitchen. 5 Crucial Medicare Changes Coming Soon
  • A senior couple happily unpacking groceries in a bright, modern kitchen. 9 Ways to Shop at Costco Without a Membership
  • A happy retired couple stands on the porch of a beautiful, sunny home, symbolizing an affordable and joyful retirement. 10 Best Places to Retire That Won't Break the Bank
  • An older man confidently using a laptop in a sunlit home office, symbolizing digital security. 7 Common Passwords To Avoid
  • A retired couple looking out a window in their bright, downsized modern home. 11 Mistakes to Avoid When Downsizing Your Home
  • A retired couple smiling on a balcony overlooking a scenic coastal village at sunset. 12 Best Countries to Live Perfectly Well on Social Security

Newsletter

Get retirement planning tips, savings strategies, and lifestyle insights delivered to your inbox.

Related Articles

7 Tips for Healthier Financial Decisions

5. Paying bills on time The biggest factor in your credit score is payment history,…

Read More →

12 Best States to Retire in 2021

A smiling woman with hiking poles explores vibrant wildflower trails beneath majestic Colorado mountain peaks.…

Read More →

12 States That Tax Social Security Benefits

Missouri Social Security benefits aren’t taxed for married couples, as long as they have a…

Read More →

13 Financial Aftermaths That Will Affect Seniors’ Budget

5. Beneficiaries with higher earnings won’t get stimulus money High earners might not receive a…

Read More →
A senior couple smiling while looking at a tablet in a bright, modern kitchen.

5 Crucial Medicare Changes Coming Soon

Discover the 5 crucial Medicare changes coming soon, from negotiated drug prices and out-of-pocket caps…

Read More →

Avoid Using These Passwords At All Costs

Pet and family names  Here’s a useful tip from Google: you should never include in…

Read More →
A senior man locking his front door during golden hour, representing home security.

13 Free Ways to Keep Thieves From Breaking In

Discover 13 practical, free ways to secure your home from burglars and enjoy a stress-free…

Read More →
An older man confidently using a laptop in a sunlit home office, symbolizing digital security.

7 Common Passwords To Avoid

Learn why common passwords leave retirees vulnerable to fraud and discover practical cybersecurity strategies to…

Read More →

10 Effortless Ways to Make Extra Money for Retirement

B) Cook to Create Some Passive Income If you enjoy spending time in the kitchen,…

Read More →
Retired in America

Your Guide to a Confident Retirement

Inedit Agency S.R.L.
Bucharest, Romania

contact@retiredinamerica.com

Trust & Legal

  • About Us
  • Editorial Policy
  • Advertiser Disclosure
  • Frequently Asked Questions
  • Disclaimer
  • Terms and Conditions
  • Privacy Policy
  • Subscribe
  • Unsubscribe
  • Contact Us

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.