There’s A Very Good Chance You’ll Never Be Able to Retire. Here’s Why.

Your retirement will require substantial funds that cannot be accomplished by merely panic saving for a handful of years before. Unfortunately, for the majority of people, saving enough money to have the retirement that they desire may be something that they will never achieve. Here’s why:


Procrastination is the key player in preventing many from being able to retire. We can all find reasons to postpone commencing our savings plans and these excuses are not common. For example, many of us are in denial about aging, choosing to believe that we will be forever young and that retirement is not our inevitable future.

Facing reality can difficult and daunting for many. This is why it is imperative to seek the help from a professional who can help you understand on a deeper level that saving and planning for your retirement can be a much easier and more manageable process that you expect.

You’ve Left It Too Late

If you have found yourself into your fifties before you have started saving for your retirement, the likelihood is that you will struggle to afford your dream retirement. Of course, there could have been many reasons for this that were out with your control.

Your business could have gone bust. You could have had unexpected payments to make. This does not mean that your dreams have ended. You may have to compromise, but there are always ways to fit travel and hobbies around work and saving. It may even be time for a change of job.

You Spend More Than You Save

Once people get into the habit of spending money it is a very difficult cycle to break. For some, spending can be an addiction, with many people finding themselves stuck in a lifestyle that they have become accustomed to for which they wish to maintain but struggle to do so.

Some may have good intentions and even start saving, but as soon as they need to make a payment for a car or even a holiday they will think nothing of withdrawing their funds, should they have the ability to do so.

If you find that this resonates with you, you should endeavour to find a way of breaking out of this costly habit. If you do not manage to do so in time, you may find yourself living off a meager state pension in your retirement.

You Have Not Set a Realistic Goal

To get a good pension you need to set a realistic goal and plan. This means sitting down and working out how much you can realistically afford and want to afford to put towards your retirement.

If you start off making unrealistic and unsustainably high contributions, it may end up affecting your present lifestyle, resulting in you giving up on your pension contributions altogether. In contrast, if your monthly pension savings are too low, you will not have enough money to fulfill your dreams, or worse, to even sustain a reasonable level of comfort in retirement.

You Don’t Know How to Start Saving for Your Retirement

Some people simply do not know how or where to begin saving for their retirement. This is particularly the case for many that are self-employed and have never been exposed to company pension schemes.

Even those who are contributing to company pension schemes may wish to set up a private pension and have no idea on how to go about it. The simple solution to these problems is to contact a local financial adviser who will be able to advise and assist you in putting a plan in place. is written by David Jacobs who is on a quest to retire early and get out of the rat race. David is a financial expert who lives for early retirement. Follow his journey making money, saving and investing to retire early and get the best out of his retirement.

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