Many boomers have come to realize that they don’t have enough money coming in to save for retirement because of daily expenses like food, housing, gas and putting kids through college. Many have accepted the premise that they just won’t retire. They will have to keep working as long as possible and make ends meet with their Social Security when they can’t work.

The flaw in that plan is 56% of workers, more than half, do not stop working by their own choice. Their position is eliminated or they are just let go. Boomers may plan on working into their 70’s but their employers have other ideas. Between loosing their job and living longer than they planned to, the money just won’t be there to sustain them financially.

Retirees are misjudging their needed finances and length of time they will need them. The only solution is to save more money. There are ways to save more money and being highly motivated by increasing prospects for a hard retirement may be just the incentive to make adjustments.