Retirement means different things to different people. Often it is seen in a positive light as in the concept of “enjoying ones golden years”. This notion can be an accurate portrayal but it can also be an idyllic one not routed in reality. Just because one stops working does not mean the expenses of daily living stop as well; they do go on and in fact can be substantial.
The two biggest threats to retirement are having enough money on hand to supplement a fixed income, and the possibility of overwhelming medical expenses. This can be particularly crippling in the case a person would need skilled care such as a nursing home. In the event this is needed either the expense of that would have to be paid out of pocket, or through an insurance policy such as long term care insurance.