Debt, Retirement

Reasons Why You Won’t Retire

More and more people are staying in the workforce despite reaching or getting past the retirement age of 60-65. Why is that? When you were young, it’s almost a certainty that you wanted to retire early, it’s a dream for most. Retiring at 50 or 40, even, was something that a lot of my peers wanted but sadly, it did not materialize. The reasons will vary and if you don’t want to fall into this trap of being a worker without a choice, read up so that you will be prepared and you can plan accordingly.


Accumulated debt over the years is a killer. You will be forced to work until you die because if you can’t pay, you will lose everything or worse. It can be from smaller forms of debt such as credit cards or larger scopes such as student loans, housing, car payments etc.

Try to pay your debts as soon as you can. Pay them off little by little so that you will not be burdened with paying them off during your later years. Even better, try to stop getting into debt. Yes, this is easier said than done but if you want to be able to retire early and enjoy your later years, you have no choice.

Medical Bills

Some people are burdened with medical bills and there really is nothing they can do about it, especially if they have an illness that requires continuous treatment. The best thing that you can do about this is to live a healthy lifestyle in order to lower the risk of getting sick and incurring high medical expenses.

Insufficient Savings and/or Pension

If you live a lifestyle that requires you to spend too much, you are setting yourself up to be a slave to money until your later years. It doesn’t matter if you earn a high income because you will want to maintain your lifestyle until later and once you are unable to support that lifestyle, it will be very hard to adjust your lifestyle.

Try to live modestly and don’t overspend. While this may seem preachy, it is just a suggestion.

Working until your later years is not entirely a bad thing though. If you enjoy your work and it stimulates the brain, go for it.