Retiring During Rough Times

By: Blaine Tolison Email

Posted: Wed 10:38 PM, Oct 01, 2008

An AARP bulletin says 30 percent of homeowners between 50 and 62 are cashing in on their home's equity. That in turn is making their net worth less as they approach retirement.

Dot Williamson, in her sixties is celebrating 32 years at the Florida Bureau of Seafood and Aqua-culture and says she is about to pay off her house. However--she is still nervous leaving her job in such rough times.

"I am concerned because my retirement with the state of Florida is invested in the stock market. I am told that it's safe, so that gives me some security, but I'm worried about other people out there. I have friends that have a lot of money invested and from what I understand this is going to mushroom down." said Williamson.

AARP says if you are in your sixties and have not reached your retirement goals--then delay retiring. If you're not able to, they advise reducing your expenses.

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