Retirement and consequences of unpreparedness
Retirement means that you officially stop working in an active fashion and that you start either staying home or doing other things on your own terms. There are a lot of activities that one can take part in once he or she has retired but this requires timely preparation that constitutes of saving. Failure to prepare for ones retirement could lead to a pathetic life and living conditions afterwards for both the individual and their family even though you might have been working in a very respectable place and serving at a very significant position. Find a quote for a 2020 medicare supplement plan at this site to help plan for the future.
Consequences of unpreparedness
- Dependency on children, friends or relations
Failure to plan leads to one becoming a dependent mostly on their children for financial support. This often leads to a feeling of shame and that you are a burden. The people you depend on may also feel uncomfortable and inconvenienced even though they may not say it.
- Inability to meet your needs
There are a lot of things and projects that you may have wanted to do in life but ever had the time. After the retirement and you have all the time you may need, unpreparedness would mean that you are not financially able to achieve the things you may have wanted to. This is the birth of regret and frustration.
Retirement comes with old age ad this normally comes with vulnerabilities to diseases and other ailments. At this point, the bones may have grown weak, eyes become short of sight and the teeth develop painful conditions. This age therefore requires that one is able to visit their physician on a regular basis. Failure to prepare for when you do not have dependable cash flow leads to such forms of stress which could later translate to dependence and sometimes even worse, death.
- Marital problems
Marital problems are characteristic to sprout whenever there is a shortage in provisions. Absence of preparation will cause marital conflicts because after many years of working, one is expected to be able to secure the life of their children before they can actually fend for themselves.
- Shame and disappointment.
After many years of active service in employment, one is expected to have something to show for it. The fact that one may be unable to remain financially independent after employment will be an issue of shame and disappointment as well as regret from oneself as well as in the eyes of the people around you.