Planning for retirement is especially important in weak economy

Bryan Aldrige

August 12, 2011

Baby boomers are beginning to cross the line into retirement age, and the timing is less than ideal, with the recent recession, the nation's debt crisis and the threat of another recession looming in the near future. Planning for retirement in unstable economic times can be difficult, and many people who are starting to think about retirement are also taking care of aging loved ones, which can add to the stress.

In 2009, AARP reports that there were more than 42 million family caregivers in the U.S., most of whom are not financially compensated for their time. Taking care of loved ones can also cut into work time, making it difficult to earn enough to save for retirement. It is important for people to start planning their retirement as early as possible.

Family caregivers may need to take time away from their aging relatives to work on their retirement strategies, in which case a medical alert system can come in handy. If an older adult is injured while no one else is home, the personal emergency response system will contact a call center, which will be able to get a hold of the caregiver or emergency responders.