Retirement Options Most people age 65 and older in the United States still work in full-time positions. This opens up the question of whether they planned for retirement or something went wrong while they were working? How do they feel about still having to work? Have they taken adequate steps to prepare for retirement? Do they work just to pass the time? These are the questions everyone should be asking themselves about their retirement plans and what they have done to prepare financially for that stage of their life. It's never too early to start planning for retirement. In today's economy there are no guarantees that there will be sufficient funds coming from Social Security when an individual reaches retirement time. The cost of living is rising and income levels are not rising fast enough. Although approximately 95% of Americans are covered by Social Security, there are many factors to consider when planning for retirement. Forty years from now, Social Security may no longer be available to everyone, or no longer be enough for everyone to survive on. This would mean that the only retirement options available will be those for which individuals have prepared themselves. According to the Retirement Confidence Survey (RCS), conducted annually by the Employee Benefit Research Institute (EBRI) for the year 2014, shows that only 18 percent of people surveyed said they were confident they would have enough money for retirement. On the other hand, 24% have no confidence in their pension provision. Additional statistics regarding the RCS survey can be found at http://www.ebri.org/pdf/surveys/rcs/2010/FS-03_RCS-10_Prep.pdf Employers are not required to provide retirees. ..... half of the document ..., planning and considerations, pension funds can be extremely low and therefore cause serious difficulties. It may cause retirement to be postponed beyond age 70 to have access to sufficient funds. It could also cause stress for other family members, such as children, who would have to help out financially and delay their retirement plans. Using the proper training, research tools, guidelines and determination, retirement plans can be set up early to allow room for fluctuations over time. It is no one else's responsibility but your own to prepare for your future, and therefore you should take matters into your own hands. The question now is: are you ready for retirement, and if not, what steps do you plan to take? References http://www.ebri.org/pdf/surveys/rcs/2010/FS-03_RCS-10_Prep.pdf http: //owl.english.purdue.edu/owl/resource/560/01/