By Cathy Severson

The current economic climate has forced many people to face the fact they are not prepared for retirement. In a recent Harris poll sponsored by Transamerica, 39% of respondents said they planned to work until they were 70 or planned to not retire at all. Lack of finances was the number one reason people stated they wouldn’t retire. Producers of the study wandered if not retiring is a viable retirement strategy.

While there will always be a segment of the population who never retires, either by choice or need, the authors provide strategies to help people plan for retirement.

People need to talk about the need to save for retirement and plan for life after work. Only 9 percent of people discussed saving, investing and planning for retirement.

Put your plan in writing. Once you’ve discussed your plan, write it down. Only 10 percent of people report having a written plan.

Spend time learning about your options. Learn about government benefits, saving and investing. As may as 71 percent of people said they didn’t know enough about the financial aspect of planning for retirement.

Make sure you participate in any employer offered plan. Most employees do participate, but 22 percent report they don’t.

Have a plan B. Now that you have a plan, considered what you will do if things don’t go as you would like.

If you’re reaching retirement age, take the time to think about your future. Many people have to put dreams on hold. Not retiring may be the ultimate choice you make. But, having a retirement strategy is the first step to having choices.