3) Mounds of Debt
Cars, mortgages and other loans are all a part of life. Whether you did not pay off your house on time or have mounting debt from credit cards, sometimes debt can stop you from being able to retire. Even if you have saved some for retirement, you may not have the opportunity to do so, because you will have to keep a job to pay off debt. The best way to avoid this is to take care of debt at the right time. Do not defer loans or take out multiple mortgages if at all possible. It is best to manage your money correctly while in the workforce and to live within your means so that retirement is a possibility for you in the future, instead of having to maintain an extra income at an older age.