9 Reasons Why You’re Never Going to Retire

Much has been written about the lack of retirement readiness, but savers still have a long way to go in meeting their future retirement needs. In the United States, only 27 percent of households are on track to cover more than 95 percent of total estimated retirement expenses, according to a recent study by Fidelity.

There are many things people do to sabotage their retirement plan. Here are some reasons why you will never retire, and some steps you can take to get yourself on track.

1. You Confuse Investing With Gambling

Some investors have difficulty distinguishing between investing and gambling, according to financial advisor Kirk Chisholm. “They feel like they need to do something with their investments, or investing becomes boring,” he said. “If you spend your entire life saving for retirement, why would you want to gamble the next 30 to 40 years on a bet?”

When it comes to your portfolio’s risk level, your investment allocation should take into account your age and time horizon for the money. Typically, you might want to consider taking on more conservative investments the closer you get to retirement age, or if you’re already in retirement.

2. You Waited Too Long to Save for Retirement

Some people wait too long to start saving for retirement, which financial expert Aja McClanahan said can happen for a number of reasons. “The biggest reason… seems to me that people don’t understand that time equals money when it comes down to investing,” she said. “Waiting too late to start investing for retirement will cause a shortfall in many people’s retirement savings.”

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