Widow Issues Warning About Saving All Your Money For Retirement
She insisted that saving up for retirement shouldn't be the only thing people are concerned about.
pixelheadphoto digitalskillet | Shutterstock It's no secret that retiring is becoming less of an expectation and more of an uncertain privilege as the costs of living and the number of people struggling to find financial security grow. This is especially true for younger generations, who are already having trouble setting aside money for their retirement, considering how expensive it is for them to do so right now.
In a TikTok video, a widow named Laura shared that despite often hearing about saving all of her money to retire, she offered a different perspective on the subject and claimed that there's nothing wrong with choosing to do the opposite.
A widow issued a warning about saving all your money for retirement.
"As someone whose husband died. I was 38 years old when he passed away, I do have a different perspective on what it means in saving for retirement," Laura began in her video. "Growing up, you know, my husband was always worried about money. He didn't wanna spend going on vacations."
Laura explained that her husband simply wanted to put any and all savings into a retirement fund instead of spending it on moments with his family and for himself. She recalled that there were a lot of things that they didn't get to do or see because they were too busy making sure they had a comfortable retirement fund ready for them once they stopped working.
When her husband died, all she and her daughters had were regrets about the time they should have spent making memories instead of worrying about money.
When Laura's husband passed away, their two daughters, who were 11 and 16 at the time, only had memories of their father worrying about money and their finances. It wasn't until after he passed that Laura was unfortunately able to go on some of those trips they had planned to take with her daughters.
"It's not that we didn't have any money to spend on it. It's just a matter of priorities," she continued. "I'm 54 years old now, and I know that if, in the last 20 years, if I hadn't spent some of that money, I probably could retire a few years earlier. But I don't regret it at all. Like the endgame in life is not just to retire."
Laura insisted that you should want to enjoy life along the way without worrying about an event that isn't coming for at least several more years. While there's nothing wrong with putting away money into a savings account, whether it's for retirement or a rainy day, in the same breath, it's important to make sure that you're not letting the stress of saving keep you from being able to enjoy beautiful moments with loved ones.
Most Americans admit they don't have money saved up for retirement.
According to an AARP survey, about one-quarter of U.S. adults over age 50 who are not yet retired say they expect to never retire, and 70% are concerned about prices rising faster than their income. About 1 in 4 have no retirement savings.
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Everyday expenses are keeping Americans worried about how they are going to be able to make ends meet. So much so that putting money away for retirement just isn't feasible. Considering life is incredibly short and unpredictable, saving for retirement, especially when you're still young, shouldn't have to be such a priority, especially since many young people are already aware that they probably won't be able to retire.
It's always important to be smart about money, but at the same time, you shouldn't let it control every aspect of your life to the point where you end up missing out on loving memories that you can create with your family and friends. Take that vacation, visit that fancy restaurant, and make time for experiences that can bring you joy and happiness because the future isn't always certain.
Nia Tipton is a staff writer with a bachelor's degree in creative writing and journalism who covers news and lifestyle topics that focus on psychology, relationships, and the human experience.