Retirement Reform Blog

An interesting article appeared in the Wall Street Journal entitled, "What Do I Do Now?"  The article lists five Do's and 5 Don'ts to help readers keep their heads during the recession.  Similarly, the NCPA released a study two weeks earlier called "Ten Ways To Wreck Your Retirement" giving the same sort of recommendations.

"Don't stop saving" seems to be the name of the game when it comes to staying on top of the downward slope.  Of course, this goes along with other practices as well, such as reigning in excess spending, living within your means, taking advantage of employer's matching funds and staying in the market if you're already in so that you don't incur more losses by selling off your stocks.  Whether or not the bottom is near, the advice echoing from all corners of the financial sector is the same: Protect your retirement– don't stop saving!

See NCPA Senior Policy Analyst discuss, "Ten Ways to Wreck Your Retirement."

I came across an informative in article in the Wall Street Journal this week, "How to Fix Your Life in 2009," (read article here), The premise is that frugality is now in; spending less and saving more is fashionable, so to speak.  So for those of you throwing up your arms in despair over the losses in your retirement accounts, the article includes several pointers on preserving and adding to your retirement savings, as well as cost-cutting ideas in other areas of living.

It may be tempting to grimace at reading another "how to" article in light of the fact that so many people already want to tell other people what to do with their time, money and energy, especially in the area of retirement savings.  So whether or not you read any financial advice for 2009, approach the year with a realistic attitude about retirement savings.  Don't give in or give up.  Market downturns are temporary.  But retirement planning is permanent.

Have a prosperous New Year.