Retirement Realities
Retired couple on beach
6 excuses for not saving for retirement

I'm unemployed
7 of 8
I'm unemployed

With no income, retirement planning is forced to take a backseat to such trivialities as food and shelter.

"Retirement savings is one of the first things to go because it is discretionary. In order to live, you don't need to squirrel away 10 percent of your pay," says Donohoe.

Though anyone who's unemployed would like to save as much as possible, it can be difficult to make retirement contributions when the job search turns into a six-month slog.

"There are times when clients really do need to lower how much they are saving for retirement in these situations," says Donohoe.

Once you're back on your feet, retirement planning can swing back into full force.




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