Retirement is the time when you look forward to some peace and quiet, spending your days doing all those little things that career and family pressures prevented you from doing earlier. So you got started early and worked hard, made the right investments and managed to create a nice nest egg that keeps growing each year, much to your pride and satisfaction.

However, nothing had prepared you for the uncertainties in the global economy that has affected every American family, big or small. From the stock market collapse to the biggest corporate frauds of all times, from mass unemployment to a shrinking economy that is recovering at a snail’s pace, the dream of a cushy retired life has come crashing down for a large number of people.

While household expenses keep going up, the amount of money that took care of them has either stopped, or has been drastically reduced. Rising healthcare costs are also not helping, and for many, are forcibly eating into retirement savings.

Retirement today is a disaster waiting to happen, and unless you belong in the super rich category, you should be worried too, especially if you are being forced to fall back on your retirement savings for your pre-retirement existence. The government too is trying to do its part to prevent the average American from having to face trying times during their golden years. A number of initiatives are being launched, but unless change takes place at all strategic levels and everyone gets involved and benefited by these initiatives, retirement savings will continue to be eroded.

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