6 Costly Retirement-Saving Setbacks - and How to Overcome Them

Retirement roadblocks
Alamy / AOL
Scenario 1: Your path to retirement is wide, gently sloped, paved with good intentions and free of potholes-including market declines, job loss and health problems.

Scenario 2: Your path to retirement is steep, littered with obstacles and fraught with perils, including procrastination and the temptation to raid your accounts to finance other pressing priorities.

Unfortunately, Scenario 2 is more likely. In a new survey by Ameriprise Financial of people ages 50 to 70, virtually all of the respondents said they had experienced at least one retirement derailer, and more than half said that it had seriously affected their retirement savings. The average amount lost or forgone: $117,000. A poll of Kiplinger's readers showed similar results.

You can't stop life from knocking you off your feet, but you can plan for the unexpected and move forward after the inevitable hard knocks.

More from Kiplinger:

Increase your money and finance knowledge from home

How to Avoid Financial Scams

Avoid getting duped by financial scams.

View Course »

Getting out of debt

Everyone hates debt. Get out of it.

View Course »

Add a Comment

*0 / 3000 Character Maximum


Filter by:

Good article until number 6 when you had to put a stupid sexist comment in there. Like you couldn't have just left it without adding the parentheses?!?!! This is 2013, get with it.
"If you're the higher earner (typically, the man)"

June 11 2013 at 7:02 PM Report abuse rate up rate down Reply

It's so nice to have a union pension that will sustain me and my wife for the rest of our lives. My pension plus SS pays me 93% of what I earned while working including overtime. People were suckers when employers began ending pensions and replacing them with 401k's. They were sold a bill of goods and bought it hook, line, and sinker. 401k's were NEVER intended to replace pensions. They were intended to be a tax haven for management It's nice to know that if I live to be 110, I'll still be getting my monthly check.

June 11 2013 at 5:17 PM Report abuse rate up rate down Reply

I find the biggest setback we've had are the politicians who have run the country for the last 12 years. Their policies have played havoc with housing markets and allowed wall street to screw us over.

June 11 2013 at 12:38 PM Report abuse +2 rate up rate down Reply