In the United States for much of the last sixty years, the Social Security program has been a big part of our retirement planning. Although the program was never meant to be a senior's total plan for living, many of our seniors have spent their last years in virtual poverty due to the fact that they had no other plan for retirement.

Today, we face the fact that for many Americans, this plan may not be available. This makes it even more important that we plan now for our retirement. One suggestion is to set aside approximately ten percent of your income for investment. For the best retirement income, you will want to invest this money in a balanced fund. This will help to compensate for inflation.

The past few years have been difficult on investments. Many people have lost money on their investments over the past few years; however, a look at the big picture shows that money that is invested continues to grow.

There are several tax advantages to investments for retirement that are done in the correct way. Be sure that you speak with your accountant or attorney about the best way to make this type of investment.

If you find that you have reached senior retirement age without adequate investments for living expenses, you may have to work a part time job or consider some of the more creative options such as a reverse mortgage in order to have the financial ability to meet your expenses.

Senior retirement should be a time that you are able to sit back and enjoy life.

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