Here’s everything you need to know.

While retirement is sought after by many Americans, there are some downsides to retirement that many people overlook. Those who have not properly planned their retirement have a hard time getting past these troubles when they do retire.

For example, taxes can take a large portion of a person’s retirement income. If a person stores most of their income in tax-deferred retirement account every withdrawal will have taxes applied. This means in order to cover a certain amount a person will have to withdrawal more to cover taxes.

Inflation can also hurt a person’s retirement. In order for a person to calculate their retirement they will have to take inflation into account. “It’s important to understand that the effects can be stealth. Inflation affects our purchasing power,” said Marguerita Cheng, CEO of Blue Ocean Global Wealth.