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!