Have you just retired? Retirement is meant to be a happy time of life when we have the freedom to live life as we please. You’ll find 17 reasons in this article why Americans struggle with retirement.
Travel Insurance
“If you’re a senior planning a trip, you’ll need to budget, on average, an additional 8% to 18% of your trip cost to cover a senior travel insurance policy,” says Forbes. Retirement can be tricky for Americans because some of the things you want to do, such as travel, become more expensive due to your age.
Respect
People have less and less respect for the older generation nowadays. Habits such as holding doors open and greeting people on the street are things of the past in many cities around the world. The lack of respect that people have for the elderly can make them feel rejected.
Identity
As we go through life, we often identify ourselves with the job we have. When we retire, however, we no longer identify ourselves in the same way. This can make some people feel like they have lost their identity, especially in an American society where your status is very important.
Grocery Inflation
According to NerdWallet, “Food prices—which includes both food at home (groceries) and restaurant purchases—increased 2.6% from January 2023 to January 2024.” The high and constantly increasing price of food is making many people of retirement age struggle to pay for the things they need.
Media
The media concentrates its advertising attention on teenagers and those in their early twenties. The lack of media attention for those of retirement age can make older people feel like they are not important members of society. This can make them feel isolated from others.
Abuse
Scary statistics from the Nursing Home Abuse Center show that “approximately 1 in 10 nursing home residents in the United States experiences some form of abuse.” It can be hard for Americans in the U.S. to feel comfortable with the thought of getting older because of the possibility of not receiving good care in their old age.
Gas Prices
The price of gas has skyrocketed since the Ukrainian War. So, instead of being able to use their retirement to go on road trips and visit different states, many Americans are being forced to stay home and use their vehicles as little as possible because of the high price of gas.
Divorce
Figures from the Jimenez Law Firm show that “adults between the ages of 55 and 64 have the highest divorce rate of any age group at 43%.” Divorce rates during retirement are high. But divorce does not often result in happiness but rather loneliness, and this makes retirement harder.
Schedule
People who have just retired were once used to their work commitments taking over their schedules for their entire lives. Now, all of a sudden, they have all the time in the world to play with. Keeping busy and planning what to do can be a struggle for many Americans.
Health
“Health insurance rates get higher with age because older people are more likely to need medical care,” says ValuePenguin. Looking after your health in retirement is very expensive. Keeping on top of the costs of medical bills in the United States is very challenging.
Fighting
Many people who have just retired find it difficult to get along with their partners. They weren’t used to spending time together because of work commitments, and now, all of a sudden, they spend every waking moment together. This can lead to fighting and conflict between couples and can make retirement a challenge.
Keeping Up
Figures from SmartAsset show that “the average household retirement income in the United States is $27,617.” This is not enough money for us to keep up with the latest trends and always purchase new things. Many Americans find it hard to stick within their retirement budget.
Overcommitting
Many Americans take on far too many responsibilities when they retire. Because they miss the routine of work, they begin filling their schedules with too many commitments. Since they don’t have the energy to complete them all, retirement turns into a burden rather than an enjoyable time of life.
Boredom
Activities such as boating, playing golf, and taking art classes are great ways for people in their retirement to spend their time. But these pastimes are very expensive. Senior citizens might not have enough money to do the things they want to with their free time and end up feeling bored.
Environment
Do you live in a city where the pace of life is fast? Then this might push you to try to do things faster. But trying to keep up with everyone else at the time of life when you want to take it easy can suck the fun out of retirement.
Family
We all dream of being able to spend lots of time with our families when we retire. But the reality is that our families have jobs and are very busy working at the times of day that we would like to spend with them. Not being able to spend as much time with your loved ones as you had planned might make retirement lonely.
Future Planning
The thought of planning for the future can be very scary when we get to retirement age. The idea of losing our mobility or even a loved one makes planning for the future seem very scary. Fear of what’s to come might make some Americans put off necessary future planning.
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