Fear of retirement

[Martin]

A lot of people love the thought of retirement, but does it actually scare anyone? For me, I think it does. The idea that I will have nothing really to fill my days and will have to rely on whatever I've put by from my working life in order to enjoy myself post-retirement. I feel it would be easy to get bored.

[ghost]

I guess it can be scary, especially for those who haven't really saved much throughout their working life. I think if you have a decent level of savings it would be less scary. Also, I think I will take the approach where I reduce my hours slowly before fully retiring rather than just quitting cold turkey.

[Alexandoy]

For those who wouldn't receive a retirement pay from their employer particularly those whose jobs are not on a permanent basis, the thought of retirement is scary. How can they live when they have no more job? And to think that they are already old hence they were retired, the prospect of surviving is not a good one. When I retired last year, my wife had assured me of support. With her permanent job and high salary, we are doing okay for now. But what about when she retires 5 years from now? Even if she will be receiving a substantial retirement pay, having no livelihood is not a good prospect. That's the reason why at this early, we are already looking for an alternative livelihood and occupation. We cannot just stay in the house doing nothing huh.

[jyy]

I'm 41 now and I'm putting my hopes in online businesses.  However, I wouldn't advise that for everyone. You have to know a lot about marketing and web development.  So has anyone thought about my retirement idea?

[Mildredtabitha]

Even if someone has planned so well and is assured of a full bank account at retirement, it still scares them. Even if you prepare early, you still need support and to be assured that you are still needed and valued at home even after retirement. Investing in businesses earlier will be a good way to be secured. I feel that if you have or get a job especially young people, you should start saving immediately and try to invest soon.

[Mozzie]

The unknown i think, over here the governments gives a pension but now there may be changes where those who have saved up for their retirement mat be taxed on it and lose a lot of it, so there is a great uncertainty here now. I haven't got to that stage yet as we have online income, but it is an unknown frontier i think.

[Heatman]

The only reason why I think that some people fear retirement would be as a result of their inability to make a good savings and credible investments that would help them enjoy their post retirement life once they hang up their working boots. So therefore, it's normal for such individuals to fear retirement because they are well aware that they haven't made any plans to save them in such life status.

[KellyGeo]

If I'm working and savings a good amount of money as well as investing into good projects that would guarantee a stable source of income for me once I have retired, then I see no reason why I should fear retirement.

I have already started saving up for my own personal pension with Crusaders Sterling Pension with other investments I have made already. So, am I afraid of retirement? The answer is capital NO!!

[Folk Artist]

That is a very abstract question I would say in these times-and you really never know what knd of money it will take in the future to live in a comfortable way. You really have to consider your housing situation- and if you own a house or rent because it seems that rents keep going up-and-up here in the US-and I read on this forum how the UK rents are sky high as well. In the UK they say you will need a huge pension if you are going to rent there when you retire, and that is why home ownership is so important over there.

[Heredia22]

I am still pretty early in the game but as of now, I sure am. It is more of the whole prospect of it and just knowing that prices of everything are probably going to keep going up, and sure enough my wages do not really seem to follow. Social security is a whole other bag of issues, but all the more reason to start saving on my own.