Anyone who’s nearing retirement spends some time picturing the ideal one for them. Maybe you dream about traveling, starting new hobbies such as fishing, painting, gardening, or just want to have more time with your grandchildren. While all these activities are wonderful ideas, you should also be aware of other aspects of retirement (financial ones for example).

Yes, your golden years can be a reward for years of hard work, but they can also cause stress, anxiety and depression. Keep in mind that nearly half of seniors choose to work part-time after retiring. Some of them are doing this because they simply enjoy it, whilst others need some extra money.

Plus, statistics say that nowadays it’s harder to save up some money for retirement than it was 50 years ago. If you don’t know what to expect when you retire, here’s a list of 7 hard truths that can help you prepare for your golden years.