There are many legitimate reasons for working people to search out advice on a plan for retirement, rather than run the risks that awaits the unprepared.

There are books, consultants and seminars that specialise in helping you to plan for retirement. These educational tools deal with aspects of hobbies, family, companionship and financial planning, often stressing the importance of beginning early.

There have been many experiences where unsavoury swindlers prey on the aged, hence it is more necessary for planning advice to be sought.

Retirement at any age generally requires a change in lifestyle. To retire, one has to meet a few basic criteria. One must be prepared to make several adjustments; they include physical, spiritual and mental activities.

Maintaining good health is critical. Adequate and well-managed finances are most important.

Retirement has a direct correlation with age, health and available finances.

Age is obviously the nature of living over a long period of time.

Today many people associate old age with the standard retirement age of 65 years old. There are the exceptions where many people who have made lots of money in a short time may retire long before 65. Here we will not deal with retirement due to disability or early retirement.

Throughout the US, Canada, England, western Europe and in some developing countries, there are statutory provisions for workers to retire earlier than age 65, in some particular cases.

We also find there are trends towards retirement at a later age. An older age for retirement is justified by the fact that people are living longer, infant mortality is on the decline, improved medicine and medical science is contributing to longevity.

Later retirement is also influenced by more positive attitudes towards continued work. Employers are finding older workers to be very responsible, reliable and they possess needed skills by virtue of their long experiences in the world of work.

The United States, therefore plans to increase the retirement age to 67 by the year 2027.

In many cases, the only source of income for retired persons is their social security. Some retired workers also receive a pension, in addition to social security, from their employer. And some also have an extra amount in savings.

In most cases it does not matter how many pensions or supplemented savings exist, the average income is usually less than the last pay cheque. Hence the importance of financial management, and the need for preparing and planning for that big day.

There are too many retirees who limit their plans to gardening, travelling and avid reading. They seem to have no clue as to how to protect and enhance their incomes by way of safe, risk free and prudent investments.

It is therefore, highly recommended that in earlier years before retirement, a worker should look seriously at a planning programme in preparation for the ultimate day of, no more work, and consequently no more pay days.

There was a time when an older person was forced to stop work, with no pension and their relatives would provide home and health care. Those days of family responsibilities seem to be functions of the past. We all know that social security is generally fixed income, although there may be some annual increases.

Even when taking account of this provision, we realise that those increases are no more than adjustments for inflation. But these adjustments do not translate into increases in real income. Hence another reason to pursue help in the field of financial management.

Physical disabilities and at times mental deficiencies, could handicap a person who has reached the biblical age of three score and ten. Physical disabilities are perhaps less of a disadvantage compared to mental problems.

Evidence has shown, for example, that Alzheimer's disease completely robs a person of all of their reasoning powers, and has no respect for persons. An examination of our own families or neighbourhood may just reveal at least one of more aged persons with a handicap of sorts. It is a known fact that persons who achieve high academic standard and even political office may suffer from the dreaded condition called Alzheimer's.

This is not to say however that virtually every old brain slides into a state of oblivion. We also argue there are many cases that prove old age does not guarantee a person will suffer a mental or physical handicap.

Evidence is clearly seen in persons like Dr. Benjamin Spock, Mother Teresa, former US president Jimmy Carter and South African president Nelson Mandela.

They all lived past seventy years, and, at the time, were blessed with good mental and physical health.

In any case there is always the chance that the aged may be preyed upon by ill meaning persons. It is not uncommon for the promoters of scams to seek out older persons, inviting them to improve their financial positions with dubious schemes.

Hence, the more reason for planning and preparing for retirement and beyond.

If a person is going on to fifty years, they should read, consult and attend seminars so that during retirement and through the rest of their life they will be happy and enjoy the rewards derived from the days of their good works.

James Smithson, was very helpful when he said "...it is in his knowledge that man has found his greatness and his happiness.'' Simply put, retirement is a most joyful time of life. There is no reason why those dreams of fishing, gardening, reading, travel and all your other visions can't become a reality, and at the same time have financial security.

Ottiwell Simmons MP retired as President of the Bermuda Industrial Union in 1996.

No caption SENIORS SRS