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Your email address will not be published.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

  • 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?)
  • A retired couple walks down a peaceful, tree-lined suburban sidewalk during the warm golden hour. 10 Best Retirement Cities With Peaceful Neighborhoods
  • 10 Small Towns Where Retirees Can Live Like Millionaires 10 Small Towns Where Retirees Can Live Like Millionaires
  • An older veteran looking skeptically at a tablet showing a $10,000 XRP claim, watercolor illustration. American Veterans Are About to Receive $10,000 in XRP From Ripple - More Here!
  • A retired couple standing on a sunny balcony in Europe overlooking a coastal town at sunset. 10 Things to Know About Retiring Abroad
  • A thoughtful 68-year-old man sitting on his porch during golden hour, holding a warm mug. Here's the Average Social Security Benefit of 68-Year-Old Americans (How Do You Compare?)
  • A stylized gouache illustration of a couple walking along a path divided into Taxable, Tax-Deferred, and Tax-Free segments. In What Order Should You Tap Your Retirement Funds? (Find Out Here!)
  • An active retired couple laughing together on a wooden lakeside porch in New Hampshire during a warm autumn morning. The 10 States Where Retirees Receive the Highest Median Social Security Benefit Checks
  • A retired couple hiking hand-in-hand along a scenic desert trail lined with cacti during a warm, golden sunset. 20 Affordable Desert Towns Retirees Are Falling in Love With

Newsletter

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

Related Articles

10 Mistakes That Reduce Your Social Security Payments

5. Claiming retirement benefits early Many seniors believe that they must claim benefits as early…

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 →
An older couple sitting at a wooden kitchen table reviewing organized tax documents in warm morning light, representing tax planning.

5 Tax Breaks You Can Claim Without Itemizing in 2026

Learn how to lower your AGI and preserve your wealth in 2026 with these five…

Read More →

Top 10 Retirement Planning Apps You Need To Download Today

Vanguard Retirement Nest Egg Calculator Vanguard Retirement Nest Egg Calculator is a free online app…

Read More →

How 8 Types of Retirement Income Get Taxed

Stocks, Bonds and Mutual Funds If you’re planning on supplementing your income with investments, get…

Read More →

10 Retirement Financial Milestones You Need to Achieve by Age 50

Social Security: Max it out Some retirees rely only on their Social Security in retirement.…

Read More →

8 Most Tax-Friendly States To Retire in 2022

Colorado – Retirees in Colorado are as carefree as it gets. The state’s median property tax…

Read More →

10 Most Common Questions About Drafting a Will

Who should act as a witness to a will? Selecting someone as a witness to…

Read More →

7 Retirement Financial Mistakes to Avoid

Forgetting about Taxes Something we often don’t take into account is that all these retirement…

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.