Retired in America

Your Guide to a Confident Retirement

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

15 Things That Might Complicate Your Plans To Retire At 65

February 8, 2021 · Personal finance

Most Americans associate sixty-five with the age for retirement. But times have changed and this goalpost most workers have worked toward has suffered slight adjustments in the past years, with 25 percent of adults aspiring to retire at the age of 65 and almost 40 percent expecting to retire after this age.

Even if many Americans look forward to leaving their 9 to 5 job, 8 in 10 are concerned they won’t be able to do retire when planned and live a comfortable retirement. If you’re among them, here’s what might make it harder for you to retire at 65.


You don’t have enough savings

Contributing to an IRA or 401(k) is a good way to save for retirement. Unfortunately, it is not always enough. You may have struggled to put money into your 401(k) but haven’t done enough to exceed your employer’s match.

“People want to extend their working lives and plan to keep working in retirement,” said Catherine Collinson, CEO and president of the Transamerica Center for Retirement Studies. The main reason is that they didn’t manage to build a comfortable nest egg to retire comfortably.

RELATED: 8 Reasons Your Retirement Will Be Tougher Than You Expect

You don’t have any savings

The only thing worse than not saving enough for retirement is not having saved at all. But if it’s any consolation, you’re not alone in this boat. According to a recent survey, one-third of Americans have not saved anything for their golden years while 55 percent managed to put aside less than $10,000.

“Over the past few decades, there has been a shift from defined benefit to defined contribution pension plans. In the defined benefit world, one didn’t need to be concerned with saving for retirement,” says Robert Johnson of Heider College of Business at Creighton University. The baby boomers expected to retire in the future have not witnessed their parents struggling to put money aside for retirement, therefore, they didn’t feel the pressure of saving either.

If you’re in this situation, don’t postpone saving any longer! Review your budget and try to cut certain expenses so that you can put some money aside every week or month. If you get a raise or earn some extra cash, transfer it to your retirement fund as well. Pretty soon, you’ll have your very own nest egg to fall back on in retirement.

Pages: 1 2 3 4 5 6 7

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

Should the Rich Fix Our Social Security?

During retirement, one source of income that a lot of seniors depend on is Social…

Read More →

How To Pay Your Taxes With Your Credit Card in 2022

For this topic, it’s worth quoting Benjamin Franklin who once said: “In this world, there…

Read More →

10 Essential Ways To Protect Your Retirement Accounts From Hackers

How inefficient could we be to advise on using a retirement planning app without giving…

Read More →

21 Ways to Get on Top of Your Retirement Now!

Plenty of people who are approaching retirement age are wondering if they’ll be able to…

Read More →

7 Best Funds To Invest In For Retirement

By investing in something for your retirement years, you basically make sure you’ll have anything…

Read More →

8 Things Medicare Does NOT Cover Right Now

Original Medicare or Traditional Medicare, also known as Medicare Part A and Part B, covers…

Read More →
A retired couple looking out a window in their bright, downsized modern home.

11 Mistakes to Avoid When Downsizing Your Home

Discover the most common physical, financial, and emotional mistakes retirees make when downsizing their homes,…

Read More →

7 Tips for Healthier Financial Decisions

There are many good things that come with good financial help such as peace of…

Read More →
A retired couple smiling in a bright apartment, symbolizing financial peace in retirement.

25 US Cities Where Your Social Security Can Pay the Rent in 2026

The average Social Security retirement benefit in 2026 is $1,976 per month. The national median…

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

Contact Us

Disclaimer

Terms and Conditions

Privacy Policy

Subscribe

Unsubscribe

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.