What if you never save to retirement?

[Grant]

What happens if you don't end up ever paying into your retirement? What happens at the end of ones life if they have nothing to show for it?

A family member of mine has not saved anything for retirement, he's also self employed so I think that's partly why. Either way, what happens to him when he's old and can't draw from a retirement fund?

 

[Syldan]

Actually there are alot of people who doesn't even plan for there retirement and they have nothing at all to sustain them. in such situation, you are already a total mess to yourself and the society.

 

[Popular]

If one didn't save for retirement, atleast he or she should have tried to be done investing on kids who will now be grown and doing well for themselves and I can easily live on pension. And a little side business too.

 

[Castelione]

I think it depends on the culture where the person was raised.

Because in Asia, it's common that old people are being taken care of by their immediate family members so things are not going to be too hard for that person. But in Europe or Western countries, I don't think that is common so it might be a challenge for that person to survive. S/he must have a business or investment if no retirement funds exist.

 

[Syldan]

If one didn't save for retirement, atleast he or she should have tried to be done investing on kids who will now be grown and doing well for themselves and I can easily live on pension. And a little side business too.

Well I think savings encompasses almost all aspects of keeping money either savings of raw cash or investing. there are alot of people who can not even save the cash and not even invest.

 

[Good-Person]

Well I think savings encompasses almost all aspects of keeping money either savings of raw cash or investing. there are alot of people who can not even save the cash and not even invest.

If you never save money for your retirement, then you will most likely suffer from financial problems later in life. Many elderly people also fall for scams and lose their savings. I feel bad for them.

 

[Popular]

A person who doesn't save for retirement might find it hard to purchase certain things they wish to have, it will become worse for someone who is not discipline.

 

[Melanie M]

What happens if you don't end up ever paying into your retirement? What happens at the end of ones life if they have nothing to show for it?

A family member of mine has not saved anything for retirement, he's also self employed so I think that's partly why. Either way, what happens to him when he's old and can't draw from a retirement fund?

Hi Grant, maybe he's stashing his extra money away and he will have it there waiting for him when he retires. (?)
If he's self-employed, he could very well be doing that.. just putting money aside here and there for when he plans on retiring. Just a guess

 

[Potuse]

Saving some money for yourself could be difficult at times. If you have a lot of responsibilities to take care of and your income isn't enough to warrant saving. There is absolutely nothing you could do if you do not save for retirement.

 

[Ravenfreak]

I'd imagine that anyone who has never saved for their retirement probably wouldn't be able to ever retire. I often wonder if the older people who get jobs in retail never saved up for their retirement, or if they just get these jobs since they're bored... Or they might rely on family members to pay them money so they can at least get the basics. You should always save up for your retirement, whether you work for a corporation or if you own your own business. You just never know how the future is going to be.

 

[Good-Person]

Hi Grant, maybe he's stashing his extra money away and he will have it there waiting for him when he retires. (?)
If he's self-employed, he could very well be doing that.. just putting money aside here and there for when he plans on retiring. Just a guess

Well, I think that saving money at a really young age is the key to having enough capital at the old age. There are many people who make the mistake of not saving money and they end up in trouble later in life.

 

[Billy]

That's a pretty bleak question, and the answer is pretty bleak too: you'll be in a lot of trouble. But why is that? If you're already living on a budget, saving for retirement can feel like an impossible task. It's not just about being able to afford the money—it's about being able to afford the time. Saving for retirement means putting off spending your money now so that you'll have enough later on. And if that amount seems like it will never come together, it can be hard not to feel discouraged and give up.

Don't give up! There are ways to save for retirement without feeling like it will take forever:

• Put $5 in your savings account every week, even if it's only $2 per day (if you make $8/hour). That way, even if you don't see any results right away, at least something is happening!
• Make sure your employer matches your contributions to your 401(k), because otherwise they're basically stealing from you (they're not actually stealing, but they're definitely taking advantage of your good intentions).

 

[Robust]

In this stage that we are in this world or in this country it is very very advisable for one to save money before retirement or else if you did not save before retirement you find it very difficult to feed your family after retirement.

 

[Good-Person]

In this stage that we are in this world or in this country it is very very advisable for one to save money before retirement or else if you did not save before retirement you find it very difficult to feed your family after retirement.

There are many people in my country who never save for retirement because they never earned enough money in the first place. They end up working even after they become older.

 

[Robust]

There are many people in my country who never save for retirement because they never earned enough money in the first place. They end up working even after they become older.

Well we have such cases at most countries but whatever you are earning it is very good that you decide to start something of your own aside so that once you retire you can be benefiting from what you are lay aside before.

 

[Good-Person]

Well we have such cases at most countries but whatever you are earning it is very good that you decide to start something of your own aside so that once you retire you can be benefiting from what you are lay aside before.

There are many people who tend to lose every thing to scammers. In such cases, the government can help those individuals. However, this is not the case in most of the countries.

 

[Setho]

It is not healthy for you not to save for retirement because there are a lot of things that you can be able to use that money for after you have actively retired from service.

 

[Good-Person]

It is not healthy for you not to save for retirement because there are a lot of things that you can be able to use that money for after you have actively retired from service.

When you do not save money for retirement, you could end up in great trouble. Saving money alone is not the only thing that you may need to do. You also need to generate income in order to survive.

 

[tyrim88]

One of the things that makes retirement very interesting is that,the money one will be getting after he retires is a motivating factor,but some organisation do pay you off in one full swap,so that you then have to settle down with what you can do with your life.

 

[Danny4cash]

It's very bad thing not to save for retirement. If you don't save for retirement, then invest your money so, that the investment will be bringing you money when you finally retire. Anyone that retire without saving for retirement and having no investment and his or her children are not financially buoyant will definitely suffer.