One in Seven Older Americans Feel They'll Never Be Ready for Retirement

A Nationwide Financial study calculates that 14 percent of Americans 50 and older doubt they will ever be prepared for retirement, but there are ways to overcome this anxiety, reports the Motley Fool . One tactic is to estimate living expenses by plotting out a budget for old age ahead of time, considering where one wants to live, rental or home ownership costs, and lifestyle expectations. Building a nest egg is recommended, and a good strategy is to close out a career with 10 times the ending salary in an IRA or 401(k). People in their 50s who are uncomfortable with the amount saved so far can scale back on certain costs. Another recommendation is to reserve money for future healthcare expenses, typically in a health savings account. Persons on a high-deductible health insurance plan can set aside a maximum of $3,550 this year as an individual, or up to $7,100 at the family level and then carry that money into retirement. Long-term care insurance can be an important investment, and one's 50s is the perfect time to enroll. This ensures applicants will not pay premiums for too long, and are still young enough to not only improve the chances of being approved for a policy, but also receive a discount on premiums.