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

  • An older couple enjoys lunch on a sunny stone terrace overlooking a coastal Portuguese town with terracotta roofs and a blue sea. This European Country Lets Retirees Live on Half Their US Budget
  • A grandmother stands quietly in a cozy kitchen while her adult daughter feeds a toddler at the table, capturing a subtle family moment. 10 Signs You're Overstepping as a Grandparent
  • 2027 IRMAA Bracket Forecast: Estimated Income Thresholds by Filing Status 2027 IRMAA Bracket Forecast: Estimated Income Thresholds by Filing Status
  • A woman in her mid-60s sits at a sunlit wooden kitchen table, circling a date on a paper wall calendar. The Birthday That Changes Your Medicare Options Forever
  • An older couple sitting at a sunlit kitchen table reviewing financial documents together in a warm, candid moment. How Much You'll Actually Get From Social Security at Every Age
  • An older man with silver hair smiles warmly while working behind the front desk of a brightly lit local community center. 6 Part-Time Jobs at Community Centers for Retirees
  • An older couple sits at a wooden kitchen table in morning light, carefully reviewing Medicare paperwork and calendars. The Medicare Deadline That Sneaks Up on Retirees Every Year
  • An older couple reviewing retirement planning documents together at a sunlit kitchen table, capturing a warm and organized moment. Medicare Part B vs Part D: A Side-by-Side Breakdown
  • What $3,000 a Month Really Looks Like in Retirement Based on Where You Live What $3,000 a Month Really Looks Like in Retirement Based on Where You Live
  • An older couple in casual clothes sitting at a wooden kitchen table, looking at a tablet together in warm natural light. Here's What the Average Social Security Check Is in August (How Do You Compare?)

Newsletter

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

Related Articles

An illustration of a retired couple standing on their sunny porch, looking out at a garden, symbolizing financial peace of mind.

Here’s How Much Money Retirees Could Keep if Social Security Taxes End

Discover exactly how much money you could save if the federal government eliminates taxes on…

Read More →

14 Ways to Make Your Money Last in Retirement

As you near your golden age, there’s probably no scarier thought than running out of…

Read More →

10 USA Cities With Rents Under $1000 for Seniors

Discover 10 vibrant, safe, and affordable US cities where seniors can easily find comfortable apartments…

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 →

18 Places Where Social Security Is More Than Enough

Discover 18 affordable US cities where you can live comfortably on Social Security alone, featuring…

Read More →

11 Social Security Mistakes You Have To Avoid Before You Retire

Some seniors lean solely on their Social Security during retirement. Others are able to supplement…

Read More →

13 Financial Aftermaths That Will Affect Seniors’ Budget

A pensive senior man gazes out the window while holding a newspaper, contemplating his financial…

Read More →
An editorial gouache illustration showing a stylized Social Security card sliced at the top, revealing gold coins inside.

Could Social Security Taxes Change Again?

Discover the history of Social Security taxation, looming legislative changes ahead of the trust fund…

Read More →

10 Most Common Questions About Drafting a Will

Writing a will is a crucial part of anyone’s life, especially as we get older.…

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.