Retirement can be a scary time. This is especially true if you fail to plan. Your worst retirement fears could come true if you don’t take the time to map out your golden years. We gathered real-life stories from around the web to warn you of the things that could happen if you’re not careful when it comes to retirement.
Here are the terrifying things that happened to real people during retirement, according to stories shared on Bankrate, LifeAfterJob, and Annuity Gator.
This retiree ended up on welfare
You can’t just hope and pray for a good retirement, you have to actually save for it. Unfortunately, one man didn’t get the memo.
LifeAfterJob tells the story of how a man named Rick completely ignored retirement. He spent most of his working years making extravagant purchases (such as a boat he never used). As a result, he lived paycheck to paycheck. Once it was time to retire, Rick had very little to live on and had no other choice but to sell his boat and his house. Rick now lives on welfare and had to move into a rundown apartment.