For many nearing retirement, lifestyle choices become more significant in determining their comfort level for the rest of their lives. They must decide whether it is better to make some of those choices now or have their circumstances force lifestyle changes later in retirement. That’s the dilemma faced by many people who have come to enjoy their way of life, but now realize that sacrifices will have to be made in order to maintain a similar quality of life in retirement.

Even for those pre-retirees who were diligent in their efforts to accumulate retirement assets, there is a realization that adjustments will have to be made. Through a combination of recent economic events and the rising cost of retirement, a new vision of retirement is emerging for the majority of people within 10 to 20 years of retiring.