Eight major concerns Americans have about retirement

7. Unrealistic expectations of retirement expenses. In most people’s minds, living expenses after retirement will definitely be lower than before retirement.

58% of non-retired people believe that their spending after retirement will be lower than when they were working, while among those who have already retired, 48% reported that their spending has decreased after retirement, 30% of retirees said that their spending after retirement has not changed from when they were working, and 21% spend more after retirement than before retirement.

Generally speaking, people’s expenses on basic living needs will be lower after retirement than when they were working, and the most obvious is that transportation expenses will be greatly reduced. After retirement, people’s houses will become smaller and smaller, and their cars will become larger and larger. In the past, people drove to get off work by themselves, but after retirement, they can take the bus instead.

After people retire, their spending habits will also change. Travel, which was not common in the past, may become a major expense. Medical insurance may become a larger expense for the elderly as people age.

Therefore, simply thinking that the financial security of life after retirement will be reduced due to the reduction in retirement expenses may be inconsistent with the actual situation after retirement, and the additional retirement living expenses will cause a major worry for the elderly in their later years.

8. Unexpected early retirement. As human life expectancy increases, delaying retirement has become a way for people to save money for retirement. Delaying retirement can give people more time to accumulate money for retirement, and it can also alleviate the headache of being short of money.

In 1991, 11% of the American population aged 65 and over continued to work. By 2013 , the proportion of people aged 65 and over continued to work rose to 14% . Of course, continuing to work does not mean that you have to work full-time. Working part-time or doing a part-time job can also bring in some income.

What worries Americans is that they may retire early before the age of 65. When a company lays off employees, the older they are, the more likely they are to be laid off, and the chances of finding a job again after being laid off are also lower.

Even if people want to continue working after the age of 65 , health is still a problem. Nearly 50% of retirees said they had to retire because of poor health and no longer had the capital to continue serving the people.