Four Reasons Why Retiring is a Bad Idea

Ah, retirement. A great idea, right? Work hard for thirty to forty years, and then you'll be able to kick back and relax. Unfortunately, retirement is not all that it's cracked up to be. In this article, I will list four reasons why retiring may be a bad idea.

You Assume That You'll Live That Long -

This is a major conundrum that most people don't seem to think about. What if you work hard for decades only to find that you die before you are able to live out your golden years(retirement)? Most people just assume that they'll be alive for that long, and they may be right. But if they're wrong then so much for their dreams. This is especially distressing if you've worked hard at something that you disliked.

You Assume That You'll Be in Good Health -

Health problems can cause serious damage to your retirement goals. For instance, if you decide to travel a lot when you retire then you will need to have good health. If you don't have good health in the future then you may have to stay at home. Or worse, you'll have to stay at a hospital. So much for your traveling plans. Even if you just want to visit your relatives and go dancing from time to time, bad health can destroy these dreams too.

You Assume That You'll Have Enough Money -

Do you really know how much money you'll need for retirement? Most people greatly underestimate this. The amount of money you'll need in retirement will depend on your lifestyle, where you choose to live, how long you live, inflation; etc.

But if you're around the age of twenty five right now then you'll probably need three to five million dollars for a decent retirement thanks to inflation. Dinkytown.net has some great calculators for estimating how much money you'll need to retire on so feel free to do some research.

Retirement Can Be Boring -

This is not true for everyone, of course. But many of you may find retirement so boring that you might just go back to work. You may end up doing a different type of job than you did in the past(especially if you disliked your previous job), or you may just go back to your old occupation.

Your golden years may not be all that great. Some people will enjoy their retirement years, and some individuals may despise them. And sadly, some of you will not live long enough to retire. My advice is to live in the moment, and just be aware of the future. Put away some money for retirement, but spend some money in the present too.