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I would say that It is more important now than ever before to save for retirement. Why? Because money talks! The cost of everything keeps rising. Prescription drugs, medical care, food, utilities, you name it. Even Social Security keeps going up year after year, until soon we will be paying s percentage of every dollar we earn into Social Security. At present we are already paying Medicare-1.45% - of every dollar we earn.

Everybody and everything spells money. Money created banks. Money created Uncle Sam. Money created Nursing homes! They were all designed to latch on to your money. Speaking of nursing homes, believe me, you don't want to take up residence in any nursing home! They take your money, but give you very little care and attention. They are not the cleanest place you'll find either. Most of the ones I have visited smell like a garbage dump! Most are under-staffed with unprofessional help.

If you haven't accumulated a sizable nest egg for retirement and have only Social Security to live on, then there is a good chance your siblings will turn you over to a nursing home and turn the Social Security check over to the nursing facility!

On the other hand, if you have accumulated a good sized estate with plenty of cash and control the purse strings, then you still have some clout. In other words, your relatives will not be as eager to ruffle your feathers. When they start talking about the rest home you can let them know that you are thinking of changing your will and leaving your money to charity! This usually changes their attitude quick.

It's just a cold, hard, fact of life, that when you're old, wrinkled and destitute, living on a small Social Security check, no one wants you, not banks, not Uncle Sam,not Life Insurance and not nursing homes. They do want your money.

We all know that Social Security income is not enough to live on. With this in mind we definitely need to save for retirement and become financially independent. There are many ways to make this happen. First and foremost is the 401-K and pension plans where you work. Where you can contribute up to 10% of your before-tax earnings and your employer matches a certain percentage- usually 25% to 50% the first five years-up to 5% of your contribution Then dollar for dollar up to 5% thereafter. These plans have have made several wealthy retirees over just a few years.

Since several companies have reneged on these plans you may want to look at alternatives. Two alternatives,

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