I Can’t Afford to Retire

Are you one of millions who can’t afford to retire? You’re not alone, the majority of people are in this category and there are those who think that they can afford but will have a rude awakening. If you are young, and think that you can afford to retire because of what you are saving now – think again my friend. Many people thought the same thing when they were young but now that they are old they can’t afford to retire.

No one knows what the future holds. Here are some things that can affect your retirement income. They are:

Inflation

Major medical expense

Out of pocket expense for what property insurance doesn’t cover

Helping a family member in need

Investments take a nose dive

Out of work

Increase taxes

All of the above can affect the amount of money put away. This is what happened to millions of people who are now at retirement age. Let’s just take a look at two of them: inflation, investment.

Inflation is really a hidden tax and you can’t get around that. What you saved 10 years ago is fixed – it can’t buy what it does now. If you have 30 more years of working, what will it buy? Inflation can be higher than what it is now. Then you have investments. Investing in stock can see a market drop over the years of quite a bit of money. Or, you might have done so-so but you invest your money into some other company hoping to make more money, only to find out that the company has gone “belly-up.” Now how does it look for your retirement.

You might ask yourself, “There is nothing else I can do?” Well, I’m here to tell you there is and this is what this blog is all about. if you subscribe, keep a watch on this blog, watch my YouTube channel you’ll find a way – like millions of others – of how to make your money go further. want to know more, then stay tuned.