With the economic down-turn and scarcity of jobs, many people are looking for some much needed retirement planning advice.  They know about investing money in their 401k plans, and the need to pay off large debt before retirement.  But that common knowledge may not be enough to put some people’s minds at ease.

In the past, we anticipated our retirement to be a time of simple pleasures and a hassle-free lifestyle.  Unfortunately, now that is not always the case.  Workers plug the numbers into the retirement planning calculator and weep.  They think it’s over -– no hope –- they’ll have to work until they’re 87.

NOT SO!  There are plenty of ways to save money on your way to retirement.

People usually agonize over their retirement planning because they assume they will live their life the same way forever.  There is no reason for that.  As you age, your needs change; and after retirement, so does your income.
Here is a little retirement planning advice that will save you money, and quite possibly, make your life easier and more enjoyable:

1. Move – You don’t need the four-bedroom house anymore.  It’s probably too big for you to take care of anyway.  Move into a retirement community or a condo/apartment that caters to retirees.  Many provide services and activities that make retirement life easier.  Plus, if you are really strapped for cash, some base the rent on your income, only charging a certain percentage.
2. Cut Back or Eliminate Non-Essential Services – I’m sure you have a cell phone, so if you haven’t done so already, get rid of your landline.  Most cell phones have free long-distance.  Also, you probably don’t watch all 436 channels that you pay for.  Go back to basics.  I did this myself a few years ago – I was paying $96/month for TV.  I went back to basic and pay $36/month.  That’s $720/year!
3. Get Rid of Un-needed Insurance – You are going to be driving a lot less, so if you decide to keep your car, just get liability.  There’s no reason to pay $100/month when you only drive 100 miles/month.  Also, if your children are grown, productive members of society, drop your life insurance.  They would rather you suffer less of a burden now.

Don’t agonize over your retirement planning.  There are lots of options for people that don’t think they can afford retirement.  Consider this retirement planning advice, and have a happy retirement!