Many seniors begin preparing for retirement, only to realize they’re not as prepared as they’d hoped.

Some people were never able to get started. They delayed planning, or had life events that made it hard to plan ahead. Others did save, but had life events come up that depleted their funds.

The latter case is what happened to this man, who despite running a successful business, had misfortunes erode his retirement plan. As explained here, many people go through this, but it’s not a hopeless situation.

Even if a person isn’t ready for retirement, they can use smart planning, patience, and perseverance to prepare no matter their age.

We want to know — are you prepared for retirement? Share your thoughts with us on Facebook and Twitter.