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

3. Private pensions are nearly extinct

Private pensions are, sadly, a thing of the past. Some might still remember how, a few decades ago, companies offered defined-benefit pensions so that retirees and their families could enjoy their golden years comfortably. Nowadays only a handful of careers still offer pensions, and even then there are exceptions to this rule. Think nursing, manufacturing, teaching, and military careers.

It’s virtually impossible to retire without saving money up first. You simply cannot live off your Social Security, as most experts say you should consider it a supplement to your own savings and not the other way around.

You have to start focusing on your 401(k) if your employee offers one, traditional IRAs and Roth IRAs as well as any other savings plan that fits your lifestyle and needs.

The trick is to also minimize taxes and expenses while working longer, if you are able, in order to fill your accounts with as much money as you can. If retirement is just around the corner then you need to start budgeting yesterday. If you still have time then consider investing regularly instead.

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Your email address will not be published.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

  • Senior woman working on a laptop resting on a lap desk while seated comfortably in an armchair with an ottoman. 11 Side Gigs Perfect for Retirees With Mobility Limitations
  • A woman sits at a wooden table reviewing financial documents and account statements beside a window and bookshelf. 9 Things to Do With Inherited Retirement Accounts
  • Senior couple in a sunlit living room with large windows, one looking outside and one browsing a wooden bookshelf. 8 Reasons Retirees Are Choosing Co-Ops Over Condos
  • A smiling senior vendor weighing produce on a hanging scale for a customer at a sunny outdoor farmers market. 7 Part-Time Jobs at Farmers Markets and Local Fairs for Seniors
  • Mature man reviews Social Security paperwork and a US passport at an outdoor table overlooking a coastal European city. 7 Social Security Rules for People Who Worked Overseas
  • An older woman talks with an adult woman across a sunlit wooden table set with tea and a notepad. 10 Things Retirees Wish Their Kids Knew About Their Finances
  • A senior couple with luggage stands on an outdoor train platform, checking a travel brochure beside a passenger train. 12 Places Where Retirees Can Afford Both Rent and Travel
  • Mature woman sitting thoughtfully at a wooden table with financial papers, an open planner, glasses, and a steaming mug. 7 Retirement Account Rules That Changed Recently
  • Senior couple walking arm in arm along a brick sidewalk past a bakery, bookstore, and cafe table with coffee. 11 Signs You've Chosen the Right Retirement Town
  • Older couple reviewing tax returns and moving paperwork at a table with cardboard boxes stacked behind them. 7 Tax Surprises for Retirees Who Move Across State Lines

Newsletter

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

Related Articles

Top 10 Retirement Planning Apps You Need To Download Today

Retirement Planner App You can find the Retirement Planner App for free on Android. If…

Read More →
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

Learn 4 boring, proven moves to boost your monthly Social Security check by hundreds of…

Read More →

14 Ways to Make Your Money Last in Retirement

2. Jump at Any Senior Discount Don’t take discounts as a sign of getting old,…

Read More →

13 Key Money-Management Tips Every Retiree Should Know

A man sits at his kitchen counter using a laptop to organize his monthly retirement…

Read More →

21 Ways to Get on Top of Your Retirement Now!

Be Disciplined We believe the biggest hurdle when it comes to saving is staying disciplined.…

Read More →

The Worst 5 States for Seniors to Be Healthy

Discover the worst states for senior health, the systemic challenges retirees face in these regions,…

Read More →
Senior man with grey hair sitting at a wooden table reading paperwork beside a steaming mug and notebook.

8 Things That Automatically Change the Year You Turn 73

Learn the 8 major financial, tax, and Medicare changes that take effect the year you…

Read More →

5 Things You Need To Do if You Want To Retire at 62

Decide when to claim Social Security – Deciding when you claim your Social Security is a…

Read More →
An older man happily restoring a wooden chair in his sunlit home workshop, symbolizing flexible and rewarding part-time work.

8 Flexible Part-Time Work That Won’t Affect Your SS Benefits

Discover 8 highly flexible part-time jobs for retirees that allow you to boost your income…

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.