Do you think that it is tough battling this economy with two incomes? Try it with only one - by yourself. That is the stark reality that many single parents face today. What makes it worse is if there is significant debt involved as well. Painting a bleak picture like this can easily cause some to fall into depression. But that does not need to be the case, since there are ways to get assistance.

You have certain laws on your side as one who owes money to creditors.  These laws are valuable because they help maintain a level playing field between you and the creditors.

Just because you hit the ‘magical’ age of 65 does not mean that you have to retire. If you can continue to work in your present job, then it might be worthwhile to consider doing that. Even three more years can make a significant difference in income. If you save 15% of your income to your retirement plan, you will raise your income from investments by over 20%.

With a large group of Americans poised to retire, the personal changes that need to be made to accommodate retirement activities can be staggering.

Fixed income

Moving from a career with a comfortable income into a position that requires living on a lower income at a fixed rate can be a big adjustment. Expenses need to be cut in order to make sure that living with less income does not create a monthly short-fall.