5 Retirement Planning Obstacles

What Are the Obstacles to Successful Retirement Planning?

There are a number of obstacles that you may face in planning for your retirement:

 Discipline to Save

Discipline to save.
  •  Many people find it difficult to form the habit of “paying themselves first,” by making regular deposits to a savings plan.

 Saving to Spend

Saving to Spend
  •  Money is saved for retirement purposes, but then is spent to make purchases.


 Income Taxes

Income Taxes
  •  Income taxes can erode the growth of your retirement savings.

Longer Life Expectancies

Advances in medical care and science is allowing us to live longer than ever before.
  •  Longer life expectancies increase the risk of retirees outliving at least a portion of their retirement income.


Inflation requires more money to buy the same goods.

Longer life expectancies also increase the risk of inflation eroding the purchasing power of retirement income.

  • For example, if inflation increases at 3.5% a year, it would require over $1,400 in 10 years in order to maintain the original purchasing power of $1,000.