There was a time when most of us looked towards retirement with at least some measure of joy. Just the word ""retirement"" could spark day dreams of traveling the world, relaxing with a stack of books, spending time with the family, and the chance to do all the things you couldn't do when working. Unfortunately, those visions aren't the norm for many senior citizens today. Concerns over health care costs, the growing need for Medicare Supplemental Insurance (aka Medigap Plans), and questions surrounding the country's economy and social security have led many senior citizens to work longer and put many of those retirement dreams on hold.

A recent report focusing on the financial concerns of senior citizens put out by the IASP (Institute on Assets and Social Policy) demonstrated that over the last several years, economic insecurity among senior citizens has steadily climbed, and according to IASP, these insecurities are justified:

"In only four years, the number of seniors at risk of outliving their resources increased by nearly 2 million households. Using the Senior Financial Stability Index, economic insecurity among seniors increased by one-third, rising from 27 percent to 36 percent from 2004 to 2008."

Despite the dire outlook and rising insecurity, there are still a number of options out there that can assist seniors in retirement. Managing assets as a retired senior can differ from asset management while still employed, but many of the best practices remain the same. Talk to an expert in the field about potential investments (and the risks involved with those investments), basic budget cutting techniques, and developing an overall financial strategy that fits your particular desires and your particular financial situation. Most importantly, make sure you're dealing with someone you trust and whose main goal is to work within your parameters. Be sure to ask plenty of questions and do your due diligence. There is nothing more frustrating than using or hiring someone who is only in it to make money from you. Then you could end up worse off than before you began doing your homework.

The current economic situation in the country has people of all ages concerned. One of the best things you can do as a senior citizen is to stay informed and to become familiar with all of the financial options out there for you."" Information is your best weapon to overcome this tough financial time we are in. "