Retirement can bring several ups & downs in life of a senior citizen. These secrets retirees will never tell you about their life.
Retirement is the ultimate truth of a job or working life. You have to retire one day. But, one can retire either before, or after or at standard retirement age.
After retirement, you will come across numerous hardest things. These are usually contrary to popular beliefs about a happier retirement.
According to some popular studies & surveys, all retirees are living the dream of an ideal & happy retirement.
However, retirement experiences often go against their beliefs. Here are top 10 secrets senior citizens will never tell you:
(1) Poor Financial Shape
It is one of the most authentic secrets retirees will never tell you. Every day around 10,000 baby boomers are turning 62. It is the average retirement age of most of the individuals.
They are not spending their golden years perhaps due to the lack of enough retirement money.
According to the Census Bureau’s Supplemental Poverty Measure, around 15 % of people over the age of 65 years are living in poverty & nearly half of them are considered as “near poor”.
Similarly, tomorrow’s retirees are also found to be in an unfavorable financial shape.
According to a research conducted by nonprofit Employee Benefit Research Institute, around 60% of people aged 55 years & above have saved less than $100,000 & 24% have even save less than $1,000 for retirement.
This amount is far less than recommendations of a typical financial adviser. These professionals often recommend retirement funds of about 11 times the final working salary.
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