What If I Cant Retire

“I cant retire” is a fear many people may have.   There are many reasons people may feel retirement is a pipe dream or unattainable possibility.

Most of the time people feel they cannot retire is because they do not believe they can save enough to live comfortably without working a steady job.   There are other reasons such as health issues or family troubles that do not seem to go away.

  The prospect of not being able to retire is very real for many, so one should know the reasons retirement may seem an impossibility.


Financial Obstacles to Retirement

Perhaps the most common reason one may think  they cant retire has to do with financial issues.

  Some people work at jobs that do not offer benefits such as pensions to help retirees.   Social security may not be guaranteed, so many people cannot depend upon this either.

  However, more than likely some people are just not able to save enough, especially in cases in which medical care is needed.

Others may look at the current financial situation and think I cant retire because of the high cost of living.   The prices of food and gasoline continue to climb, which will further drive up the cost of living by the time retirement comes around.   The financial crisis has also cut into the value of many workers’ 401(K) plans with the losses in the stock market.


Health and Family Obstacles to Retirement

Many older workers believe  they cant retire because they depend upon their work health insurance.   There are many older people beyond age 62 in the work force because they are afraid to lose their health benefits.   They think I cant retire because they are ineligible for Medicare until age 65, so they continue to work longer.   Others may even have a spouse to support on a health insurance plan and continue working during years they planned to retire for the sake of the spouse.

Interestingly, this is also a part of the I cant retire mentality when family members are involved.   With the current economic downturn, many people are dependent upon all contributions from the family in order to make ends meet, so older workers are putting off retirement, perhaps to prevent becoming a burden to other family members.   They may be afraid that they cannot retire in comfort without help and decide to keep working to save their own peace of mind.


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