Tips for Retiring in Tough Economic Times

Numbers do not lie – economic times are tough and unfortunately senior citizens are stuck in the middle of it all.

From plumeting home values to shrinking 401ks, from rising medical costs to insufficient retirement nest eggs, the future can look pretty bleak. And many senior citizens are effectively “stuck in place” – they no longer have the time or resources to replace depleted savings.

That is why it is so important to begin retirement planning BEFORE you retire. Plan now to identify potential problems while you still have time to make corrections to your course. Set goals for retirement and stick to them.

Obviously finances will be an important consideration so start now getting into the mindset of saving money in retirement.

And we should not expect to do it all on our own – we need to enlist the aid of our support network of friends and family. Here are a few insightful tidits of retirement advice from current retirees.

For some additional ideas to help cope with challenging times, take a look at this weeks US News & World blog Retirement Planning in a Volatile Economy

Welcome to the rollercoaster!

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About LoveBeingRetired

Dave Bernard is a California born and raised author and blogger with an extensive 30 year career in Silicon Valley. He has written more than 300 blogs for US News & World On Retirement and his personal blog Retirement –Only the Beginning. Dave has written three books to date: "Are you just existing and calling it a life?"; "I want to retire! Essential Considerations for the Retiree to Be"; and " Navigating the Retirement Jungle". He has been quoted in various articles and magazines including The Wall Street Journal, The Times of India, Prevention Magazine and Erickson Tribune. Dave lives in sunny California with his wife and a shared passion for the San Jose Sharks.