Losing Luster in Your Golden Years: Retirement Issues


A List of Common Retirement Problems

Losing Luster in Your Golden Years

Here are just some issues that retirees face during their golden years.


Ever Rising Health Costs

Most retirees are baby boomers, and although those who earned better before retirement are doing all right, the rest face higher lifetime health costs as they continue to live longer. It’s harder to plan for these higher costs and presents quite a challenge, especially those who work blue-collar jobs.


Extended Life Expectancy

With the increasingly advanced health technology, the age expectancy of people has increased. This means that the longer someone lives, the longer they have to keep paying. This is perfectly fine, but bad news for retirees who can’t continue earning and didn’t save enough money.


Investment Returns

Sometimes, things important thirty years ago don’t have the same value today. It’s the same in investments—the stock invested then might not have as good a return as it did several years ago. This puts retirees at risk, especially if their retirement funds are tied to earnings from investments with low interest.


Money Management

It’s hard to strike a sustainable balance of spending money for enjoyment during retirement. Many focus on not running out of money, but many also don’t want to die without spending a significant amount without any left over.


Social Security

According to the Annual Report of the Board of Trustees, Social Security reserves will be completely depleted in 2033. That’s not too far off, so those who have just retired have a lot to worry about, especially if they are depending on Social Security for their retirement.


Where There Is a Will . . .

Estate planning is really important, especially when looking at the challenges of aging. Preparing for such eventualities like strokes and the like, retirees have to designate who can take responsibility for them if their life circumstances change.


Needs for the Long Term

The costs for long-term care are rising, and the population of people who need this kind of care is also increasing. This means that retirees have to think about investing in a long-term health care plan, and that’s an additional expense.


Those are just some problems people who retire get to encounter. However, it should not stop them from living their lives.




Social Security. 2014. “The 2014 OASDI Trustees Report.” Accessed April 10, 2017. https://www.ssa.gov/oact/tr/2014/tr2014.pdf.


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by Rosalie H. Contino, PhD