For Some, There May Be No Retirement

You expect to work your whole life in order to retire at 65. Yet that is no longer a reality. Just 15 years ago half of Americans planned to retire by age 65. Now less than a third plan to. There are a whole host of reasons why the face of retirement will be different for the next generation. Here are several reasons why many Americans are expected to continue working past their retirement age.

Social Security

Sweeping changes need to be made to Social Security in order to keep it going. In future years, additional changes will also be made. By additional changes I mean less disbursements and increasing the retirement age. For those younger than 40, they should not be relying on social security as their sole means of retirement funds.

Interest Rates

Currently, interest rates are at historic lows. For those looking to take out loans this is good news. But for those who are looking to grow their savings, it’s bad news. Savings accounts are only paying about 1% and for the next several years do not expect this to go up. Those looking to earn a good return are needing to place their funds in riskier investments.

Rising Costs

As time goes by, inflation will continue to occur. The cost of everything will go up. By the time you retire gas may be $10/gallon and rents may double. Think about how much everything cost 20 years ago. If it has doubled, it will double again int he next 20 years. If you have worked your whole life, saved your money and have a healthy nest egg, it may not be enough. You need to ensure that your savings go up at the same rate (or higher) as inflation.


Many Americans who got a mortgage in their 30’s ended up losing their homes in their 40’s. Some ended up renting and others plan to become homeowners again. This means that they will have a monthly house payments well into their 70’s and beyond. If you’re still renting into retirement you can expect your rent to increase over time. If you own a home you’ll have to deal with your mortgage payment and increasing property taxes and insurance rates.

About The Author

Edwin is a marketer, social media influencer and head writer here at Daily Finance Options. He manages a large network of high quality finance blogs and social media accounts. You can connect with him via email here.


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  1. Marcus Block

    We’re headed into uncharted territory that’s for sure.

  2. Warford Designs

    that is fine if you are a work-a-holic, but not for me, I want early retirement.


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