What can be a consequence of inadequate saving for retirement?

Inadequate saving for retirement often leads to a lack of financial security and independence, which is reflected in the choice identified. When individuals do not set aside enough money for their retirement years, they can face various financial hardships. This may manifest as an inability to cover basic living expenses, healthcare costs, and other necessary expenditures. Consequently, many could be forced to rely on social security benefits or family support, which may not provide enough for a comfortable lifestyle.

Achieving financial independence during retirement is crucial for maintaining one's quality of life, pursuing hobbies, or even managing health-related expenses without the stress of financial strain. Inadequate savings can diminish these possibilities, leaving retirees vulnerable to economic uncertainties and limiting their options as they age.