5. Deal with Dependency
Having a lot of dependency can largely affect how you prepare your retirement. With the increasing number of people from nuclear, extended and even the neighbors around your locality, if you don’t know how to say no you may not be able to save for your retirement.
According to the Pew Research Center, In every 8 Americans more than one of them between the ages of 40 to 60 has a child and a parent they are supporting so, they are being caught in a situation you can call being in between two hard rocks. A lot of things can be done to ensure that you don’t fall into this ugly situation that will make you to sacrifice your retirement just to support others.