3 Reasons Not to Fear Retirement

3 Reasons Not to Fear Retirement

Core Facts

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If you’re nearing retirement age, you are not alone. Roughly 10,000 Baby Boomers retire every day in America, and that number is set to stay true for the next 19 years. Many people face uncertainties and fears about their own retirement. When it should be a well-deserved rest after a lifetime of hard work, a lack of planning may result in apprehension and stress. 

Here are some things that could help overcome those retirement fears:

Social Security

There’s been a lot of talk about the instability and unreliability of Social Security. Fears of being left high and dry have been swarming around the rumor mill. But experts sing a different tune. While people under the age of 40 may have legitimate cause for concern, the idea that someone over 50 won’t get Social Security is borderline ridiculous.

Lack of Money

The idea that one needs $1 million dollars for retirement has again become the “common knowledge” narrative. In actual fact, people’s ideas about retirement have shifted over the years. And this figure doesn't account for any other income sources, such as Social Security, pensions, rental properties, or inheritance — not to mention any part-time work you may pursue during retirement.

Boredom & Loneliness

Like anything in life, your retirement is what you make of it. If you choose a life of sitting alone at home and not being very productive at anything other than crossword puzzles and daytime TV watching, then sure, you might end up being lonely and bored after a week or less. But if you’ve planned family trips, holiday getaways, adventures, and general involvement in the stuff of life, then you might be surprised at how occupied and surrounded by friendly faces you may be. 

On this same subject, the planning ahead comes into play. If you’ve been smart about your retirement planning and have some savings ready for you to take advantage of, you could find yourself following a passion in your later years that you never had time for while you were younger. Being stuck in the workaday world may not have allowed you the time to chase a passion or live out a dream. Retirement may offer you a new lease on those passions. 



Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities. 

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. 

Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable-- we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC


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Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Teaneck and Princeton, NJ; and White Plains, NY. For more information contact David Lerner Associates Call 516-921-4200 Visit our website: www.davidlerner.com

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Jake Mendlinger
Account Manager
516.829.8374 X 232

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