Welcome to Stay Wealthy podcast. I'm your host, Taylor Schulte, and today I'm tackling what might be the most expensive lie you've ever told yourself. I'll just work a few more years. This seemingly innocent backup plan has become the default solution for millions of Americans worried about their

retirement savings. But what if delay in retirement is actually one of the riskiest financial decisions

you can make? To view the research and articles supporting today's episode, just head over to

you stay wealthy.com forward slash 241.

According to a recent study, nearly one in four Americans expect to retire later than they planned on just one year ago. Even more concerning, about 10% don't believe they'll ever be

able to retire at all. A recent Fidelity study highlighted

a more pronounced decline, noting that only 67% of Americans expressed confidence in their

retirement plans down from 74% in 2024. The reasons behind this retirement confidence crisis are of course unique to each person,

but they are largely about fear, fear of recessions, fear of running out of money, fear of not

being able to afford the ideal retirement. And then market volatility comes along and throws

gasoline on these fears, causing many people to second-guess their plans

and determine they need to work longer. In other words, when markets swing unpredictably,

it doesn't just affect portfolio values. It also affects major life decisions. For many,

delaying retirement seems like the safest option, but it comes with hidden costs that are rarely discussed.

For example, it's well documented that extended careers can lead to increased stress, a decline in health, and lower job satisfaction.

What starts as a financial safety net can turn into a trap that significantly diminishes your

quality of life. The psychological toll of delayed retirement is just as significant. In fact,

workers who delay retirement often struggle more with anxiety, feelings of inadequacy, and a loss

of control over their future. Retirement isn't just an economic milestone. It's a personal

one. When people are forced to keep working or convince themselves that they have to continue working,

they can feel stuck in roles that no longer fulfill them leading to frustration and disengagement.

There's also a practical reality that many don't consider.

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