Many people are considering retirement due to layoff or a desire to make an early exit from the workforce. This is a serious issue and should be carefully analyzed. In a majority of cases working during retirement will be a necessity. I have heard some people returning to school to upgrade their skills. Remember idle time has its drawbacks particularly when you lack the funds. Saving for retirement must become a permanaent part of everyone’s budget.

Another consideration is making sure your assets are working for you in the most efficient manner. This requires working with someone who has your best interest at their top concern.

“Retirement today is not that of a generation ago. Gone is the day of a company pension, company-paid health care and secure Social Security,” says Ted Sarenski, president and chief executive of Blue Ocean Strategic Capital LLC in Syracuse, N.Y.

“Today’s retiree is faced with self-sufficiency and, as such, needs to work at least part time ‘in retirement’ to have enough money to pay the costs of living that were once paid by someone else,” he says.

Unfortunately, many people decide to retire without really thinking through the decision, then wind up returning to work, says David A. Littell, a professor at The American College who focuses on the financial issues of affording retirement.

Many Americans refuse to save for their own retirement choosing instead to live for the moment. This decision will result in the need to work during retirement to supplement their income.

Please comment or call to discuss how this affects you.