Retirement

Learn strategies on how to live secure and comfortably during retirement.

Liz, Rockynoll Retirement Home

Living The Retirement You Deserve
By Irene Mori

If the savings rate is zero or a negative, meaning that consumers are spending more than they are earning, it is time for serious reflection. Since the housing boom went bust several years ago and the economy has suffered, people did start to spend less and save more. When there is not enough money available, however, it is a difficult proposition to save for retirement.

With a 2010 survey finding that 34% of Americans had no savings, which included 22% of people who were 65 and older, the prospects of an enjoyable and well deserved retirement lifestyle may be jeopardized. Americans are reported to have $18 trillion in retirement savings so many people are trying to prepare for retirement.

Those who worked for thirty plus years at the same job or at various jobs where good retirement plans were utilized may find that they have a great retirement. They have the means to travel and enjoy life. They are able to spend money on their children and grandchildren. They are able to partake in the finer things of life. They can donate to worthy causes. They may find themselves enthusiastically working on their bucket list — doing the things they never had the time or money to do earlier in their lives. One successful gentlemen who had been employed in the financial sector stated that his retirement income was so good that he made more money doing nothing than Cabinet Secretaries earn working in the Administration in Washington, D.C. He is enjoying his retirement.

Others who were not so fortunate or who had severe business and investment reverses may find themselves pinching pennies in their later years. Indeed, there are a number of senior citizens who find it difficult to make ends meet or to even take care of their food and medical expenses. They are not living the extravagant retirement lifestyle afforded to some of their counterparts.

Baby boomers have been entering the realm of retirement for several years now. As many as two thirds of the baby boomers state that they have not saved enough for retirement. Lots of these people changed jobs many times so they do not have a good retirement fund, and their investments may have tanked as well. Also, it is impossible to know how much a person will need in retirement because no one knows how long he will live.

Remaining in good health is an important part of securing a successful and happy retirement. Caring for one’s physical and mental health will have a big influence on how enjoyable retirement is for the older generation. Being willing to put forth the time and energy to maintain a healthy lifestyle will be well worth the effort.

Since saving money for retirement is often a problem, many retirees will find themselves working longer. If money is needed in the later years, there are ways for older people to bring in extra income. They may be able to do a home based business in order to earn money. Being able to live the retirement you deserve is possible.

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