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As you ponder the years ahead, what’s at the top of your list of concerns? Here are 10 possibilities:
Or does something else top your list of worries? Let’s hear what’s keeping you up night and what you’re doing to address your concerns.
Those 10 possibilities could all lead to what I call “life unlived”.
If I left this world today at 62 (and not retired yet), I would have no regrets and feel I’ve been the luckiest guy in the world. But since I’m still here, I don’t want it to go unlived.
My mother-in-law started showing signs of dementia at age 70 and passed at 75. My wife thinks she may go that same route, and she’s 68. So, for a while now, we have been working to have the right balance (for us) of saving for a long future while making the most of the now.
So none of those possibilities worry us at night, as long as we have plans ongoing for a life well-lived.
Of that list, it’s interesting that while there are items that are directly out your control, such as the stock market, cuts to SS, and long term care costs, ALL of them can be controlled or mitigated with proper advance planning. THAT would probably be a good definition of wealth IMO, the ability to have established contingencies to that list. Honestly (I’m just reading the list over and over) I think I’m close, if not already there. That’s quite reassuring.
What worries me: Health deteriorating until I cannot live anymore in the home I adore. I think I’d rather check-out early than grasp-for a few more years in a soulless institution.
If it comes to needing help on the basics, I’m thinking about ways to pay reliable non-professionals in my low cost-of-living area to provide it. Something entrepreneurial on both sides.
Jonathan: that is a really good list and I think many would agree to one or more of those. For me, it is uncertainty about how long I will live, my eyesight, and the future for my children and grandchildren. That said, my wife and other family members will be financially secure regardless of how much time I have left.
I think many of the items were somewhat more concerning years ago before retiring. Now that I’m more or less financially secure (even if SS is cut) 8 years into retirement, many of those items don’t greatly concern me. I would add that caring for a loved one for an extended period of time can be a concern. I’ve been supporting a family member (parent) for over 5 years in a somewhat toxic relationship.
I do somewhat have a jaded outlook for the country based on the current political environment, and the massive changes taking place to make our world and country a less stable place than what we’ve experience in my lifetime. I’m hoping that in 2-4 years this too shall pass, but we’ll see…
I fear that Acting Social Security commissioner Leland Dudek will shut down the agency as he has threatened and there is nothing we can do.
Naturally health would be near the top of anyone’s list of concerns with the risk of dementia with aging. While perhaps partially covered by concern of the “state of the world.” What I am surprised is the relative lack of concern regarding fundamental changes in laws related to investment products and the importance to our investments of maintaining the rule of law.
The WSJ has had articles about the potential for interest rate “repression” for example as a way to reduce federal budget expense. Today the WSJ reports “Uncertainty has dented the municipal-bond market after a move to strip munis of their tax-exempt status was proposed by the House Budget Committee.” Should owners of TIPS be concerned that the CPI be manipulated as another means to reduce the federal budget?
I have been amazed with the standard dogma advising investors not to make changes in their investments last year anticipating the change in administration. For example, a position in gold was a reasonable investment when polls in late September showed a new administration.
The 46 previous comments are fascinating — and not what I expected. The top concern appears to be health, followed by the “state of the world.” Despite the hand-wringing last week about the stock market, and the recent worries about inflation and cuts to Social Security, financial topics are hardly mentioned, perhaps reflecting the affluence of HumbleDollar’s audience.
And a perspective developed by a steady dose of wisdom from Jonathan Clements.
Man! I go on vacation for a few days and now there are all these great Forum posts requiring responses. I’ve gone through all the previous responses to this piece, as the topic resonates with me. To echo others, I worry about the world we’re leaving for our children and grandchildren. Others have mentioned physical health while others have mentioned cognitive health. I think about those two in combination. The last thing I would want late in life is a body that’s fit, but with a brain that’s unable to go along for the ride.
Jonathan,
Great list of concerns!
And Commenters, thanks for listing what concerns you.
The very best part of HD is learning what others think and feel and are willing to share.
As for me …
Any day I’m not in jail, I’m not in the hospital or I’m not in the ground … is a good day.
Interesting topic for me, as I have set a goal to spend less time worrying. My parents worried a lot, spent a lot of energy girding against possible future calamities. My mother just died from issues related to Alzheimers. It was a brutal, and scary to watch. I most fear having dementia. Then there is the general worry of something going amiss with my children.
I think I have the money issues sorted out.
The great news: I have gotten much better about living in the present and delighting in small and large pleasures today.
Any of our lives can change in a heartbeat.
A product of America landing man on the moon, I have tremendous confidence that human beings can accomplish whatever they put their minds to solve. I’ve seen it done before. I only hope people can take the pain, make the sacrifices that comes with what needs to be done. My parents were children in WWII and they tell me the stories of rationing and fathers off to war for years. I hope future generations can sacrifice, if needed to protect our freedoms.
I just read through the 49 responses already here, and I understand why these issues could, and do, cause some to worry. But to be honest, I don’t really worry about any of it, other than the possibility of losing my health and/or experiencing severe dementia.
As more than one HD member stated, I worry about things in my control, to there extent I worry at all.
My attitude is that GOD is in control of my life and everything else. Me worrying will not help. I can eat better, exercise more, read and think to keep my mind as sharp as I can, manage my spending, invest wisely, provide for my wife, help my kids, give to causes I care about, and live my life. My estate planning documents are in order. Our income is primarily guaranteed, and our portfolio is not currently being used to provide income, so the current market volatility, while irritating, is not a real concern.
My parents and parents in law are all deceased, 3 of my 4 siblings are deceased, 4 of my wife’s 6 siblings are deceased, and I have no grandchildren to worry about. While I do have some concerns about the direction in which the USA is headed, unlike some HD members, I have awakened every day since November 6th with a smile on my face, firmly believing better days are here and ahead for our country.
I am 74 and my wife is 70. Once in a while our bodies remind us we are getting older, but I don’t think either of us “acts” old. (Our daughter turning 47 last Sunday was another reminder.)
Realistically, because I am I better health (slightly), it is feasible to believe I may out live my wife. I am prepared, however, (financially and emotionally,) to go first. I am not concerned about loneliness, running out of money, the market crashing, being compelled to move, long term care costs (I have a great policy – and our portfolio and annuities LTC benefits can cover my wife), inflation, or family needs.
Deteriorating Health and possibly a cut in Social Security Benefits would be the only real concerns for me…and I am acting to ameliorate one and the other is out of my control.
May GOD Bless each and every one of you, and your families…and allow you to enjoy your retirements.
Thank you Kevin for sharing the true contentment that comes from your relationship with Christ. I agree. I would also add that “health” would be the one I’d pick. I don’t worry about what I can’t control, so I try to do my part of eating healthy and exercising
I’ll go with a variant of deteriorating health, dementia. I read all these stories of people being swindled out of everything they own and I think “that won’t happen to me” but it probably wouldn’t take that much cognitive decline to enthusiastically embrace a con. And even without that happening if I’m no longer able to direct my life I don’t see who will manage it for me since my siblings live far away.
Personal care as we age tops my list. We are mobile and competent at age 75, but I know that this will not always be the case. We are still living in our longtime home, but know that we will need to move – likely twice – in order to ensure that we will have the care we need without being a burden to our family.
So happy to see you keep writing articles.
For my wife and I, Health situations top any list, the rest is easy. We just want as best we can to live peacefully.
Health is really the only thing that registers here. As the final exit draws nearer the big question is, “Easy or hard?”
Certain things I can plan for, I do, and I have. Once I’ve done that my worries are compartmentalized and no longer drive me. One item that would definitely have a serious impact is world war, but we live adjacent to a very large military installation. For us, it will be over in a flash. Another is failure of the internet. Imagine life today with no access to banks, credit, shopping if the internet were down for a significant period of time. Even buying gasoline, groceries etc. via credit is accomplished via satellite and the internet. As for health, after my cancer diagnosis and treatment I am living on borrowed time. The bright news is I won’t outlive my money and I won’t live long enough to experience dementia or Alzheimer’s.
For my kids and the world’s younger generations, I do worry about the zombie apocalypse. Some sort of black swan event – dinosaur extinction event, nuclear launch by a whacko, massive volcanic eruption, solar coronal ejection, electromagnetic pulse taking out the grid, massive future uprising of the 3-5 billion global inhabitants (out of 9-10 billion) who are unable to find employment, or seismic collapse of modern financial systems. I can’t do anything about these, and the event will be something not listed, so I only worry a bit.
For the most part, I always try to keep in mind my Mother’s frequent advice of “only worry about that which you can control.” This is why I try not to comment on posts about politics, how to fix social security, or why others have different personal preferences (on budgeting, asset allocation, traveling, or spending).
It’s off to the gym, as that is about the only thing I can control……
Well you asked….I am very worried about Project 2025 coming to fruition. Whether you believe the current administration is behind it or not, it worries me.
I am worried that the hospital I work in will close or lay people–doctors and nurses–off if Medicaid is cut. I am worried that Social Security will be gutted. I am worried that the stock market/economy will tank and not recover. I was planning on retiring in 2-4 years.
I am not changing my investments–except maybe to buy more of the stocks that are on sale.
I worry about running out of good health much more than I worry about running out of money. I feel the pressures of time now for the first time in my life.
An extended (10-year +) depression.
There seems to be rather a lot I could worry about.
Globally – climate change and over-population, plus Ukraine and Taiwan, both countries I have visited and liked.
Nationally – practically everything the new administration is doing, but especially the separation of powers and free speech. I’m also worried about the unelected and unappointed tech bros that now have access to my financial and medical data, along with whether my social security check will show up on time.
Health – as I’ve written here before, I don’t worry about being dead, but I do worry about the process of becoming dead. I’m worried about whether I will develop macular degeneration, as my mother did. I’m worried about the emphysema that killed my father, although my pulmonologist says mine is mild and something else (unspecified) will kill me first. I also worry about falling. I’ve recently seen how a fall that would be minor in your 30s or 40s can have devastating consequences as you get older.
Finances – I’m only 50% in stocks after rebalancing at the end of last year, and my CCRC promises to keep me if I run out of money, so I’m trying to stay calm about this.
That does look like a lot, but none of it is keeping me awake at night. Yet.
I experienced a nasty fall a couple of months ago and still in PT addressing injuries. I worry about not being able to take care of myself. Yes, I could find home and health care but the loss of independence would be hard to accept.
That’s why I moved to a CCRC (Continuing Care Retirement Community). Yes, I have given up some independence, but care will be available when needed.
100% agree. I worry about the world in which my daughter will live.
For me, #1 is deteriorating health — as a stage 4 cancer survivor I’ve seen firsthand how serious illness devastates lives.
And #2 is being alone — once a loner, I’ve learned that being married to the right person is the greatest thing in life.
None of the others are the slightest bit concerning for me. Perhaps some of them are worth worrying about, but I simply refuse to.
Deteriorating Health tops my list. My husband and I do crossword puzzles, sudoku, various mind puzzles, and have a hilarious competition watching Jeopardy. We live a half mile from a 2,600 acre nature park and hike several times a week (my favorite activity of the day). When the weather is bad, we make-do with the tread mill and stair master. I sold my old bike and will be ordering an electric bike, so we’ll see how that goes. We changed our diet ten years ago to include more fruits and vegetables. We also cut back on sugar. I was going to say ‘no sugar’, but I have something sweet twice a month, so…
Financial security was at the top of my list for years. But after five years of researching and thinking through various decumulation strategies, I feel I’ve reorganized our finances for what works best for us and addresses the financial items on your list (as best we can).
Our soaring debt and a real possibility of a market/economy crash. Very poor future conditions as people don’t have children. Never seen so many restaurants and retailers going under.
Now that we have reached the 80 year milestone, we no longer worry so much about our health, but are more concerned about the health, well being, prosperity and faith of our children and grandchildren.
Our finances are in good shape and we trust in the Lord for our future.
Relationship problems of two loved ones. Nothing to do except listen and pray. Challenges facing the small nonprofit of which I am now the board chair. I have a very supportive and much more knowledgeable board and Executive Director, but the buck literally stops with me. My health is good. I’ve downsized my home. The grandson graduates soon (visiting Philly this weekend for a second look at a couple schools there 😊). Long term care premium is up to date. My most important concern the last five years was staying in good health until the grandson could take care of himself. That prayer was answered. Hopefully the other concerns will diminish (likely to be replaced by new ones). My church has been a great source of hope and inspiration during these five years. After my time spent there, whether setting up coffee every Sunday for 50 people, attending pizza and game night monthly, or enjoying the weekly service and music, I always leave feeling revived and hopeful. And I very much appreciate HD readers, writers and the encouraging replies to some of my comments.
Gad. What a gloom-and-doom thread…
Health, including cognitive, is easily on top. What to do? Exercise and eat well, though not fanatical about it. Get our annual physicals and dental visits, and teeth cleanings even when out of the country and have to pay for them. I’ve also lately started using a brain training app.
The money-related worries were once a big driver for me, and led me to scrimp and save, but those have eased in the last few years. I now have concerns for my daughter, and seek to support her emotionally as well as financially while she’s in college. And to extend financial planning beyond my death–no “dying with zero” for me.
I once worried about our two mothers, but I’ve seen many families live through the slow decline of older parents. I’ve come to accept that the end is seldom a happy time. We have our hand on the finances, to react as needed, but there will most likely be tears. Few leave like my friend Liz, who died in her favorite chair at age 86, dressed and waiting to be picked up for Bible study.
“Being compelled to move”. I guess this could come for a variety of reasons. For me, it might be from living near a large, growing city. Land use changes, and with it traffic, higher taxes and so forth. A changing environment in any form can be unsettling.
I’m trying to let go of the illusion of control. We walk the earth for a short time, and follow in the footsteps of countless generations. Each generation has faced a different set of worries, most of them weightier than those that bother me. I should focus on my blessings, and be content with the many that I have.
Health 100%. Everything else can be mitigated to some extent.
This is an interesting topic for me since I feel as though I’ve been a worrier for most of my life. But these days I feel like I’m generally more optimistic than pessimistic. I can’t pinpoint the exact reason for the change, but perhaps it’s just me getting more comfortable with my lifestyle now that I’ve been retired for almost three years.
One thing that concerns me is the ability to keep up with technology. I see people in our retirement community who struggle to use even the most basic of electronic devices. Since it seems like we’re on the cusp of an enormous leap when it comes to what computers–and humans–can do, I want to stay relevant for as long as I can.
I’m old enough to have seen a few technological transitions. I used a typewriter before a keyboard. I grew up with landlines, not cell phones. I had a set of encyclopedias before there was the internet. I remember when booster rockets splashed down in the ocean instead of flying autonomously back to the pad they were launched from.
In an attempt to try and keep up with some of today’s technology, I got a book about using artificial intelligence. I’m devoting a part of each day to trying some different activities to see what it’s capable of doing. In general, I’m blown away by what a basic AI program can do.
And no, I didn’t use AI to write this post. But I do know how to do it now.
Yesterday, I saw an advertisement for an online AI course, and thought about investigating what AI might offer me. Maybe you could pass along a taste of what you learn from your book, to whet our appetites? “Artificial Intelligence for those with Declining Cognition”. There’s grim humor in that title, but maybe there is a benefit from AI for us as we age?
I read books, and the future with AI will be different and I am hoping for the best. Try Copilot or Chatgpt or others. I use Copilot like my good friend who has unlimited knowledge. When I forget things, I just go to Copilot and ask, the results are generally accurate and helpful. But as always be aware, sometimes I know an answer better than AI, then I tell them, and they are very polite and say thanks. AI is like and infant today or small child, but in 10 years, AI will be AMAZING. That will change as time rolls on and get better and better. It is going to be interesting!
I started with the book Using Artificial Intelligence: Absolute Beginner’s Guide.
Since I’m frugal, I requested our community library purchase a copy of it rather than buying it myself.
The book provides various suggestions about how to incorporate AI into your daily life. Thus far, I’ve been playing with creating images, summarizing research articles and using an AI-based transcription program. I’ve been amazed at what I can do after just a few days of playing around with it.
Thanks for the reference. Last week, my wife took her mother in for a check up with our family physician. The doctor showed my wife the new AI note-writing program he was trialing. During the visit, he had his normal rambling conversation with my mother-in-law. At the end, he showed my wife the medical note. The AI program had filtered-out all the extraneous information to produce a physician’s note. And the program learns from his edits to produce subsequent notes in the style he prefers.
I find ChatGPT in particular super helpful with suggesting edits for writing. It’s also much better than any search engine to answer a question. I check its sources and have so far caught just two errors after a month of use. The newer 4.0 model has been better than 3.5.
A loss of democracy. If that is lost, nothing else matters.
What worries me? First thought, not money.
Second thoughts:
A long downward slide in health requiring me to burden Chris or my daughters with my care, or life in a nursing home.
My grandchildren’s health and wellbeing, and the environmental, governmental, and fiscal mess that we are leaving them.
Today however…. We have a good life.
Health during longevity would be my main concern. Trying to enjoy every day I have left instead of slow decline.
The loss of biodiversity and increasingly fewer natural ecosystems. Climate change.
We have been losing sleep for awhile. Most of it is because of Spouse’s mom’s dementia and the fact that she lives alone and we are 4 hours away. We know the time is coming when she will not be safe in her home and something will need to be done. She is stubborn so we think it will be a battle. Chris
Deteriorating health is my top concern. It’s the one concern that we have some control over by exercising, diet, being diligent seeing doctors and taking our meds properly. I still worry that the unforeseen random health issue could strike me, my wife or others in our family (believe me, we’ve had more than our share of health issues).
Also, as Kim stated, the world we are leaving our grandchildren. Having recently watched “Paradise” on Hulu, it seems more real that global devastation could become a reality.
Health issues including cognitive dexline and losing my eyesight. I’ve had eye issues for ever and after 7 surgeries things have been holding steady thank God. I worry about my kids and more specifically hopeful to avoid larger family drama. My 22, 21 and 16 year old get along fairly well right now, but I’ve seen such drama in families that i hope it doesn’t happen in ours.
Mike, I can relate to your eyesight issues, I have them too. I am glad you are stable. I am too. Chris
Yep. Scary, so I take everything seriously and I never ignore if something appears off. I hope you’re stable too.
I don’t worry about the inevitable—aging, physical decline, death. I hope for no serious mental deterioration, grandparents have all been ok in that regard, but it helps me to at least have saved enough for long-term care. My most serious concerns are extended family money needs, and as Kim said below, post-rational society driven by greed and power.
The world we are leaving our grandchildren. I know living in this world has always been hard. But the hatred and lies thrown at science, education, and the political system is just so unnecessary and harmful in my opinion.
I agree with you. I fear for our children and grandchildren.
As I age, deteriorating health is the biggest concern, especially cognitive decline. LT Care costs have a connection to this. Barring a global apocalypse, I think we have enough resources to weather most of the other concerns. We could downsize our lives if necessary and still be comfortable.