half of American adults do not even have a plan for retirement
Philadelphia, PA (PRWEB) August 29, 2014
Debt Consolidation USA shared in a recent article published last August 27, 2014 some insights on how consumers are dealing with retirement. The article titled “Important Considerations When Planning To Work In Retirement” explains some of the situations that pre-retirees and even retirement age consumers experience.
The article starts off by explaining that there are a lot of people who are unprepared for retirement. At least one out of every three Americans are not prepared enough to go into retirement where about 19% are at pre-retirement age of 55 to 64. What’s more, half of American adults do not even have a plan for retirement. And for the rest, 24% are planning to continue working as long as their bodies can take them.
For some, retirement is an alien concept because of having too much debt. The article explains that this is one of the problems people encounter when planning to retire. One of the main reason for this is because a lot of people had to prioritize basic needs. This left some of the loans and debt payments hanging and increasing by the month. This payment just balloons over time and the consumer is left with a mountain of debt.
The article also shares how some people, especially the older ones are financially supporting either their children or grandchildren. This limits and actually drains the retirement funds of consumers preventing them to take up retirement and are forced to continue working until their support is no longer needed.
For some, it is a matter of funds or the lack of it to be more precise. The article explains that there are some who started putting in retirement funds at a late stage in life because of all the debt payments that had to be prioritised early in life. This led to a late start in putting in funds for retirement and leads to a low nest egg when retirement age is reached.
The article also shares that there are some people who just wants to keep working. It is not about having debts to pay off the need to support relatives or even the amount of retirement fund they have. These people just wants to continue working until they can, To read the rest of the article, click on this link: http://www.debtconsolidationusa.com/retirement/important-considerations-planning-work-retirement.html.