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 man sitting at a wooden table examines an investment portfolio document next to a notebook and coffee mug. 4 Boring Moves To Do Now to Add Hundreds to Your Social Security Check
  • A senior woman sits at a wooden table holding a mug and gazing out a bay window beside a newspaper and open notebook. 9 Things Single or Widowed Retirees Should Know
  • Senior couple sitting at a wooden kitchen table reviewing paperwork and financial notes with a calculator and coffee. 10 Financial Traps That Catch Retirees Off Guard
  • A smiling senior woman reaches into a wooden pull-out drawer filled with labeled food jars in a sunlit kitchen. 15 Simple Fixes for Everyday Senior Life
  • Older man in a green jacket reading a pamphlet beside a wooden arrow sign pointing toward voter information. The Issues Voters Say Matter Most Heading Into November
  • A settlement statement paper on a desk alongside file boxes labeled closing documents, property taxes, and renovations. Here's How Long You Should Keep Tax Records If You Own a Home
  • A senior woman sits at a wooden dining table reviewing a monthly checking statement alongside a notebook and coffee mug. 5 States With Extra Payments on Top of Federal Benefits
  • Older couple walking down a sunny small-town sidewalk past brick storefronts, a hardware store, and a bakery. The 10 Best Small Towns for Retirees to Stretch a Social Security Check
  • An older man in a denim jacket organizes hardware behind a store counter beside a shift schedule notebook. What Happens to Your Social Security If You Work Part-Time After 65
  • A stressed older couple sits on the floor of an empty living room surrounded by unpacked cardboard moving boxes. 5 States Retirees Regret Moving to, Based on Cost and Lifestyle

Newsletter

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

Related Articles

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 →
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 →

12 Ways to Improve Your 401(k) Plan While You Still Can

Saving for your golden years is extremely important if you want to have a comfortable…

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 →

9 401(k) Mistakes & Solutions All Boomers Should Be Aware Of

Baby boomers, now ages 55 to 73, are either retired or enjoying their last few…

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 →
A senior woman looking thoughtfully at her phone in a bright, modern home office.

6 Social Security Scams You Need to Pay Attention to

Protect your retirement income by learning how to spot, avoid, and report the six most…

Read More →
A retired man at his wooden kitchen table examines a prescription pill bottle alongside documents and a calculator in morning light.

Why Your Medicare Part D Plan Might Cost More Next Year

Learn why Medicare Part D plans cost more, how new out-of-pocket caps impact insurance carriers,…

Read More →

11 Worrying 401(K) Mistakes That Will Derail Your Retirement Plans

All across the U.S., 401(k) plans have become the main ingredient to retirement savings. Them,…

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.