• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Photo From Shutterstock

WOMEN RETIRE Photo From Shutterstock

Photo From Shutterstock.com

  • WOMEN RETIRE: HOW TO BUILD THE WEALTH YOU NEED TO RETIRE THE WAY YOU WANT
  • ABOUT ME
  • Contact
  • Blog Post Index
  • Privacy Policy
  • Disclaimer
  • INVESTING VIDEOS
  • FINANCIAL STRESS VIDEOS
  • RELATIONSHIPS VIDEOS
  • FINANCIAL PROBLEMS VIDEOS
  • SIDE HUSTLE VIDEOS
  • INCOME VIDEOS
  • FINANCIAL SECURITY VIDEOS
  • FINANCIAL FREEDOM VIDEOS
  • SPENDING VIDEOS
  • TEENS VIDEOS
  • OTHER GREAT WEBSITES

IT IS REALLY HARD FOR PARENTS TO SAVE FOR RETIREMENT

December 8, 2020 · wpx_womenret · 38 Comments

By Craig Erwin, Ph.D.    12-8-20

Photo From Unsplash

It is really hard for parents to save for retirement.  Obviously, education costs and saving for education costs make it more difficult for parents to save for retirement.

Even though children pose a serious threat to retirement preparedness, they are not the biggest threat. The biggest threat to retirement preparedness is the lack of a workplace retirement savings plan or pension.  In other words, a workplace retirement savings plan or pension sharply increases the likelihood of retirement preparedness.  Marriage also helps.  Married couples (especially if both work) tend to have much more wealth than singles and divorcees, which aids retirement preparedness.

One way that financial preparedness for both children and retirement can be sabotaged is through divorce.  Unfortunately, both children and parents often suffer as a result of divorce and it can throw a wrench into the best financial plans.  As a result, one of the smartest financial moves a couple can make is to stay married.  There are financial benefits that stem from marriage continuity and some steep expenses associated with divorce.

Children change everything, and they especially change a family’s finances.  It’s not as if we must choose between children and retirement, but we must go into parenthood with eyes wide open.  Children are likely to make it more challenging to prepare for retirement.  In fact, many parents are ill-prepared for retirement because, instead of saving money for their retirement, they choose to pour their money into their childrens’ college education.  This is short-sighted.  Although it is very generous of parents to help finance their childrens’ post-secondary education, it is a stupid thing to do for parents who have not prepared well for retirement.  Some parents are able to both put away enough money for retirement and help their children with educational expenses.  But, if parents are unable to both help their children financially and save enough to retire, the priority should be retirement savings, not educational expenses. 

If parents cannot or will not assist their children with educational expenses, their children have other alternatives to help them fund their education (e.g., student loans, work-study, working while in college).  But, if parents fail to adequately prepare for retirement, they have no alternative but to become a burden to their children or to work until they die.

Working until you die may sound like a reasonable alternative, but who wants to do it?  And frequently seniors have no choice – either their employment is terminated or their health problems prevent them from continuing to work.

So, be realilstic about your options and plan ahead.  If you decide to have children, be sure to prepare for them financially.  And make certain that you prepare adequately for retirement whether or not you decide to have children.  See the article below for the best approach to saving for retirement.

The Best Way For Most Of Us To Accumulate Wealth: Dollar-Cost Averaging
Tweet

FAMILY, RETIREMENT, SAVING AND SPENDING

NEVER MISS A POST

Lorem ipsum dolor sit amet, consectetuer.

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recipe Rating




Comments

  1. Andrewsuelt says

    May 30, 2022 at 12:26 PM

    cialis for sale in canada best price for daily cialis free samples cialis

    Reply
  2. Andrewsuelt says

    May 29, 2022 at 11:02 PM

    cialis 800mg tadalafil what is cialis black

    Reply
  3. Andrewsuelt says

    May 29, 2022 at 9:31 AM

    viagra cialis trial pack cialis cialis online buy

    Reply
  4. Andrewsuelt says

    May 28, 2022 at 4:26 PM

    purchase cialis tadalafil 20mg best price cialis generic dapoxetine

    Reply
  5. Andrewsuelt says

    May 28, 2022 at 2:05 AM

    fastest delivery service for cialis cialis online pharmacy cialis cheap

    Reply
  6. Andrewsuelt says

    May 27, 2022 at 9:15 AM

    cialis with dapoxetine cheap generic version of cialis drug canada cialis with prescription

    Reply
  7. CraigSkich says

    May 26, 2022 at 3:48 PM

    viagra without a doctor prescription sildenafil 20 mg viagra cost per pill

    Reply
  8. CraigSkich says

    May 25, 2022 at 11:22 PM

    buy viagra online canada sildenafil 100 mg buy generic 100mg viagra online

    Reply
  9. Jamesasymn says

    May 25, 2022 at 2:38 AM

    ivermectin for dogs side effects stromectol for sale stromectol tablets for humans

    Reply
  10. Jamesasymn says

    May 24, 2022 at 10:34 AM

    stromectol 12 mg tablets cattle ivermectin for humans stromectol 12 mg tablets

    Reply
  11. Jamesasymn says

    May 23, 2022 at 9:34 PM

    stromectol for sale stromectol for sale ivermectin for demodex mites in dogs

    Reply
  12. Jamesasymn says

    May 23, 2022 at 6:03 AM

    stromectol for sale stromectol for sale oral ivermectin rosacea

    Reply
  13. MichaelKef says

    May 23, 2022 at 12:42 AM

    clomid where to buy cheap clomid online clomid

    Reply
  14. MichaelKef says

    May 22, 2022 at 11:58 AM

    clomid for sale canada clomid for sale canada clomid

    Reply
  15. MichaelKef says

    May 21, 2022 at 11:13 PM

    viagra pills sildenafil 100 mg lowest price sildenafil 20 mg

    Reply
  16. MichaelKef says

    May 21, 2022 at 9:20 AM

    buy tadalafil online where to buy liquid cialis buy tadalafil online

    Reply
  17. MichaelKef says

    May 20, 2022 at 5:45 PM

    tadalafil lowest price tadalafil online purchase of tadalafil in india

    Reply
  18. MichaelKef says

    May 20, 2022 at 1:09 AM

    viagra viagra sildenafil 20 mg

    Reply
  19. MichaelKef says

    May 19, 2022 at 8:27 AM

    stromectol for sale ivermectin without a doctor prescription stromectol for humans for sale

    Reply
  20. CanadaFaura says

    May 18, 2022 at 10:51 AM

    generic drugs india order online legitimate online pharmacies india india pharmacies shipping to usa

    Reply
  21. CanadaFaura says

    May 17, 2022 at 6:56 PM

    india pharmacy trusted india online pharmacies cheap generic drugs from india

    Reply
  22. CanadaFaura says

    May 17, 2022 at 2:21 AM

    order prescriptions online without doctor recommended canadian pharmacies recommended canadian pharmacies

    Reply
  23. CanadaFaura says

    May 16, 2022 at 11:29 AM

    best ed pills best pill for ed cheapest ed pills

    Reply
  24. CharlesWIZ says

    May 15, 2022 at 6:30 PM

    best ed treatment ed medication online best pill for ed

    Reply
  25. CharlesWIZ says

    May 15, 2022 at 5:15 AM

    treating heartworms with ivermectin and doxycycline agri mectin ivermectin how long does it take ivermectin to kill scabies

    Reply
  26. CharlesWIZ says

    May 14, 2022 at 12:15 PM

    best over the counter ed pills ed pills ed pills

    Reply
  27. CharlesWIZ says

    May 13, 2022 at 7:45 PM

    prescription drugs canada buy online online canadian pharmacy online prescription for ed meds

    Reply
  28. CharlesWIZ says

    May 13, 2022 at 3:45 AM

    best ed pills non prescription erection pills online ed medications online

    Reply
  29. CharlesWIZ says

    May 12, 2022 at 12:32 AM

    ed meds online without doctor prescription prescription drugs online without doctor pain meds without written prescription

    Reply
  30. CharlesWIZ says

    May 11, 2022 at 7:40 AM

    where to buy propecia where to buy propecia online finasteride cost

    Reply
  31. WilliamKig says

    May 10, 2022 at 8:47 AM

    the best ed pill viagra without doctor prescription amazon remedies for ed

    Reply
  32. WilliamKig says

    May 9, 2022 at 11:51 AM

    cialis black online side effects of cialis daily cialis black 800mg

    Reply
  33. WilliamKig says

    May 8, 2022 at 9:18 PM

    ivermectin for foxes ivermectin near me ivermectin dosage for dogs for heartworm prevention

    Reply
  34. WilliamKig says

    May 8, 2022 at 7:16 AM

    generic over the counter prednisone cheap prednisone prednisone 5093

    Reply
  35. WilliamKig says

    May 7, 2022 at 4:49 PM

    prednisone 40 mg prednisone for sale prednisone 80 mg daily

    Reply
  36. WilliamKig says

    May 6, 2022 at 6:44 AM

    how much ivermectin to give a dog with sarcoptic mange ivermectin lotion for humans ivermectin for guinea pigs petsmart

    Reply
  37. WilliamKig says

    May 5, 2022 at 9:38 AM

    prednisone 30 mg coupon prednisone for sale buy prednisone online paypal

    Reply
  38. MonteWhare says

    May 2, 2022 at 1:06 PM

    [url=http://cheapdrugs.store/#]medication drugs[/url]

    Reply

Primary Sidebar

CATEGORIES

SEARCH THIS SITE

Copyright © 2023 · Recipe Blogger Theme · Genesis Framework · Privacy Policy · WordPress · Log in