The good news is that we are living longer. This means that we have many extra years to enjoy ourselves with our friends and family, with our food, drink and other earthly pleasures. As long as we keep popping all the anti-cholesterol, anti-sugar and anti-high blood pressure pills we keep going. We do all the blood tests every year, the doctor never gets out of his seat behind the desk, he simply analyzes the results, prescribes the right pills and we keep going.   The bad news   We are outliving our money. This means that our pensions, retirement plans and nest-eggs are all drying up while we still need them. So the race is on. Will we outlive our pension and end up poor and the miserable objects of state care, or will the pension outlive us and allow us to spend a respectable and pleasant old age in a retirement home? 0Medical breakthroughs and healthier lifestyles are expanding our life expectancies and you simply can’t count on departing the way our parents and grandparents did.   The working retired As a result, some retirees are returning to work, others are selling everything, buying a mobile home and roaming around the country. One friend exchanged his expensive apartment for a fancy yacht and is permanently moored in a Mediterranean port. He never stops talking about the wine, the hot food and the hot women.   Retiring We still get the State old age pension or monthly social security check but they buy less every month and if you venture outside the US you have to convert the US dollars into another currency. The result is frightening. Now that you know you are faced with a longer retirement, you have two choices:

  • Put off your retirement as long as you can.
  • Start planning your retirement more carefully and long before you retire.

As a final fall-back situation, there are always reverse mortgages or viaticals after your pockets run dry in retirement.   Retirement planning We are surrounded by giant conspiracies which are constantly trying to erode our nest egg, and the biggest ‘retirement killer’ is our simple inability to maximize our retirement savings. Retirement planning isnt a full-time job, but a full-time job is what you may face if you fail to plan your retirement. Do you know how much youll need for a comfortable retirement? Have you lined up your future income and expenses to see if you’re sitting pretty or spooning down cat food? You’re not alone if you’re shaking your head. Last years 18th annual Retirement Confidence Survey indicated that less than half of American workers have taken the time to make basic retirement calculations.   Retirement services There are retirement services which can help with tax planning and retirement account trends. They can suggest portfolios to help retirees achieve ideal asset-allocation strategies. Don’t wait until its too late! Seize control of your future by grabbing the wheel while you still can. No one will help you when you are sleeping on a bench in the park.

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