Retirement woes continue to haunt Americans as the cost of living continues to increase. From paying for medical insurance to paying the bills, retirement continues to be a sticky subject in America. Another major concern for many citizens is finding an affordable retirement home to live in. While many retirement homes are priced to meet the needs of financially-strained retirees, others boast prices and amenities that are simply off the chart in terms of luxury and cost. With the wide range of prices and options available, one must argue the question: Do you have to pay a lot of money to be satisfied with your experience in a retirement home? Here is a look at two of the most expensive and three examples of affordable retirement homes in the United States for an in-depth comparison of whether you really need to pay a lot of money for a quality retirement experience.

SEE: The Complete Guide To Retirement Planning For 50-Somethings

Two of the Most Expensive Retirement Homes in the U.S.Vi at La Jolla Village A retirement home that certainly offers retirees a piece of the luxury is Vi at La Jolla Village in San Diego. Vi at La Jolla Village provides spacious floor plans available from one bedroom to three bedrooms. Some standard features of the homes include an emergency call system, expanded digital cable television, patio or balcony, and spacious closets. Additionally, Vi at La Jolla Village provides 24 hour valet parking services, weekly housekeeping, healthy dining options and Phillips Lifeline alert system in each unit. All this luxury has quite a price tag attached to it. Entrance fees start at $225,200 and max out at $753,700, while monthly costs can range from $2,720 to $4,440.

SEE: Finding A Retirement-Friendly State

Valencia Shores Another amazing example of a retirement community that offers up luxury and relaxation with a steep price tag is Valencia Shores in Lake Worth, Fla. Some of the impressive amenities that Valencia Shores offers include a full-scale athletic club with fitness center, tennis courts, whirlpool spa, and full-service hair and nail salon. Valencia Shores has a broad selection of homes available, each massive in size and with all the modern amenities you could ask for. List prices start at $239,000 and max out at $625,000.

Three of the Most Affordable Retirement Homes in the U.S.American House American House in Dearborn Heights, Mich. is one great example of an affordable retirement home that is looking out for the cash-strapped retiree. American House offers a variety of floor plans up to two bedrooms, and offers a hearty helping of comfort with amenities such as an emergency response system, month-to-month leases and weekly housekeeping. American House offers many programs that help save tenants money on living costs, including programs for veterans and low-income seniors.

SEE: Will Your Retirement Income Be Enough?

Atria Kennebunk Located in Kennebunk, Maine, Atria Kennebunk is an affordable retirement home with much to offer seniors. Amenities include a very active social community, beautiful interior and scenery, emergency call system in every unit, and concierge. Atria Kennebunk determines cost based on your income and has programs available to work with low-income retirees.

Meadowood Meadowood in Worcester, Pa. is another affordable retirement home that offers tenants considerable bang for their buck. Housing options include spacious apartments or carriage homes and some of the attractive amenities include an expansive library, fitness room and pool. Best of all, Meadowood has a broad range of financial options available to tenants, making Meadowood an easy choice for any budget.

SEE: Will You Have To Delay Your Retirement?

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Some Of America's Most Expensive And Affordable Retirement Homes

By ROBERT POWELL

The Judeo-Christian world has its 10 commandments. Newton has his three laws of motion. And now retirement has its seven equations.

Actually, the world of retirement has had these equations for a while, in some cases for hundreds of years. But Moshe Milevsky, a York University professor, has put all these equations into one readable and, truth be told, highly accessible book, "The 7 Most Important Equations for Your Retirement."

In his book, Milevsky reveals not just the equations, but he also provides portraits of the people and ideas that are behind all our retirement planning. Here's a look at the equations that both students of retirement and would-be students need to know if they want to build a bulletproof retirement plan.

If you want to know how long your nest egg might last, consider equation No. 1, which was developed by Italian mathematician Leonardo Fibonacci some 800 years ago, back in the early part of the 13th century.

Fibonacci, who is best known for introducing and popularizing the Hindu-Arabic number system in the Western world (we dare you to use Roman numerals to perform long division) and a number sequence that bears his name, also gets credit for this one: the present value analysis.

That right, credit Fibonacci--who Milevsky calls the first financial engineer or quant--when you want the answer to this question: How long will your nest egg last in retirement if you were to stop contributing today and instead withdraw a fixed amount each year while earning a fixed interest rate each year for the rest of your life?

So, for instance, if you have $250,000 set aside for retirement earning 4% per year and you plan to withdraw $12,000 per year, your money would last 45 years. If, however, you decide to withdraw $24,000 per year, your money would last just 13 years.

Today, there are sophisticated ways of figuring out how long your nest egg will last, but this equation, wrote Milevsky, "provides a quick and sobering assessment of whether you can maintain your standard of living, or when the money will run out if you can't."

And oh by the way, Milevsky thinks Fibonacci likely retired wealthy and didn't outlive his assets. The city of Pisa gave Fibonacci an annual pension of 20 Pisan pounds for life for service to the city.

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7 Equations for a Secure Retirement

The recession in America has caused many people to asses retirement ages. Although the recession is technically over, that doesn't mean much for the job market. As the U.S. deals with ongoing financial instability, the impact on future retirees in the U.S. is becoming clear. People will have to work longer than they used to. It might not come as a shock to most Americans that this is the case, but for younger workers the question isn't if they'll have to work longer, it's how much longer will they have to work than their parents and grandparents did?

The Current Retirement Picture Currently, the early retirement age for Americans is 62; full retirement starts at 66. The government plans to raise the retirement age incrementally. By 2022 this age will reach 67, but some experts are expecting a much more dramatic increase in the retirement age than most have anticipated previously.

Robert Benmosche, Chairman of American International Group (AIG), recently said the retirement age will "have to move to 70, 80 years old," according to an article on Bloomberg. He was speaking generally about Western countries in light of the economic problems Greece and the rest of Europe are facing. Aside from economic problems in the world, retirement is an expensive endeavor. Fidelity Investments recently released a report that said a newly retired couple can expect to pay 4% more for medical bills over the course of retirement than a couple who retired last year. They went on to say that a couple who retires now will need about $240,000 for medical expenses over the course of retirement. Unfortunately, medical costs are going up, not down. Future retirees can expect even more costs in this area. Even if the Supreme Court upholds President Obama's health care law, the impact on retirees may not be enough to offset the growing costs of medical care.

SEE: 20 Ways to Save On Medical Bills

Where the Retirement Age Is Going According to Gallup, the actual average retirement age in 1991 was 57 and the current average has stayed around 60 since 2004. In a recent poll by Gallup, most people indicated that they expected to retire at 67. So, although people are expecting to retire later, the actual statistics show that the average age at which retirees actually retired is only three years higher now than it was over 20 years ago, from 57 in 1991 to 60 today. That may change soon. If the current downturn keeps people from entering retirement, and it looks like it will, then that average may go up quickly. Many people are choosing encore careers. Encore careers are jobs people move into after their previous jobs, and work at least part time to add more money to their nest eggs.

Aside from economic woes, America is facing an aging population that is expected to drain resources in Social Security and Medicare. According to a study completed by Medill Reports, the population of those older than 65 will go from 39 million today to 89 million by 2050. An increase in the retired population may overload America's health systems and cause the retirement age to be pushed even higher.

The Bottom Line It's impossible to calculate exactly how high the retirement age could be pushed to, but many experts expect an increase. According to a New York Times article, when Social Security was first introduced life expectancy was only 63 and there were 40 workers to support each retiree. We currently have about three workers per one retiree now.

SEE: Life Expectancy: It's More Than Just A Number Because everyone's financial situation is different, retirement ages will vary among the population. An increased retirement population, a down economy and problems with government programs may all contribute to future delayed retirement for Americans.

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What Will The Maximum Retirement Age Be?

Bill Haber / AP file

Retirees of the future will find their experience much different from their parents' golden years.

By Samuel Weigley, 24/7 Wall St.

Once people reach their 50s they finally see retirement on the horizon. They start envisioning that time when they can stop going to work and instead spend their days on the golf course, on the beach or with their families. Yet many people have not saved nearly enough for retirement by the time they are 50 years old. A recent survey by the Employee Benefit Research Institute found that 60 percent of workers born between 1946 and 1964 have less than $100,000 for retirement. In fact, 40 percent have saved less than $25,000.

24/7 Wall St. interviewed retirement-related experts from brokerage firms, banks, retirement advocacy groups, and independent financial advisers. With their help, 24/7 identified the eight actions you should take if you have not prepared to retire.

Financial advisers generally recommend people begin saving for retirement starting in their 20s to take full advantage of compounding interest. Although the financial advisers who spoke to 24/7 Wall St. say it is very hard to give concrete estimates on how much should be allocated toward equities and fixed-income, they say it is best to cut risk as one approaches their target retirement age.

24/7 Wall St.: America's richest school districts

Not saving up enough for retirement used to be less of a problem. Workers in previous generations often received pensions from their employers, allowing retirees to know exactly how much money they would get once retired. But employers have increasingly shifted that responsibility onto the employees through 401k and other defined contribution plans.

These days, notes Joe Ready, executive vice president for retirement at Wells Fargo, people get married and have children later in life than previous generations. This means that it is increasingly hard to save for retirement during the 40s and 50s because they still face heavy financial obligations -- they are still paying off their mortgage, sending their children to college and so on.

The fact that many current retirees are living off pensions has conditioned younger generations to think their retirement might be the same, says Lule Demmissie, managing director of retirement for TD Ameritrade. Face it, Demmissie says, your retirement isnt your parents retirement.

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8 things to do if you haven't planned for retirement

Will the old thirtysomething gang still be showing up for work at seventysomething?

That could be the case for many of their real-world contemporaries if they hope to enjoy financially secure retirements.

Baby Boomers, with their inheritances, homes, and old-fashioned pensions, may appear to be on track for a solid retirement - but some experts say the forecast for the generation born from 1946 through 1964 isn't necessarily so rosy.

While Boomers are more likely than younger workers to have defined-benefit pension plans and certain other advantages - that's particularly true of older Boomers - many may wind up financially ill-prepared for retirement unless they work longer and save more.

The recent financial crisis took a toll on wealth; inheritances on average won't be that big; traditional pension benefits are phasing out; and many shop-till-you-drop Baby Boomers simply haven't saved enough money to last through retirements that should stretch beyond those of previous generations, economists note.

"The majority of today's retirees are able to afford a decent retirement. However, this group is living in a 'golden age' that will fade as Baby Boomers and Generation Xers reach traditional retirement ages in the coming decades," states an October 2009 report led by Alicia Munnell, director of the Center for Retirement Research at Boston College.

"This gloomy forecast is due to the changing retirement income landscape. Baby Boomers and Generation Xers will be retiring in a substantially different environment than their parents did," the report notes, citing longer life spans and retirements and declining "replacement rates" - retirement income as a percentage of pre-retirement income.

As of 2009, in the wake of the housing and stock market crises, some 51 percent of U.S. households were at risk of being unable to maintain their pre-retirement standard of living at age 65, the authors calculated in their report, "The National Retirement Risk Index: After the Crash". Some 41 percent of early Boomers, 48 percent of late Boomers and 56 percent of Gen Xers were at risk, they said.

The financial crisis, however, can't be blamed for everything.

"They weren't prepared even before the crisis," Munnell told CNBC recently. The report noted that two years earlier, 37 percent of early Boomer and 43 percent of late Boomer households were at risk

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Retirement Bliss May Turn to Blues for Some Boomers

Lets get the bad news out of the way first: 51% of households below the age of 65 are at risk of not having enough income to enjoy the lifestyle theyve been looking forward to in retirement. In fact, according to Tony Webb, research economist at the Center for Retirement Research (CRR) at Boston College, other than the value of their home, about half the population has basically nothing saved for retirement.

Scary.

Indeed, this years annual Retirement Confidence Survey produced by the Employee Benefit Research Institute found that 30% of todays workers have $1,000 or less in savings and/or investments, and 60% have less than $25,000 in their savings accounts. However these numbers include workers of all ages, ranging from the very youngest-whom you would expect to have little in savings- to those on the cusp of retirement.

Unfortunately, a significant portion of older workers have next to no savings or investments. Harris Interactive reported last year that, shockingly, a significant portion of nearing or already in retirement have no nest egg set aside at all. Generationally, one in four (25%) baby boomers (aged 46-64) have no retirement savings, with 22% of Matures (aged 65 and over) stating the same. (1)

Heres the good news: Theres a simple fix. Work a few years longer. (I didn't say you were going to like the solution)

How much longer? By expanding upon the National Retirement Risk Index, analysts at CRR, including Webb, determined that 85% of us would have the financial resources needed to maintain the standard of living were enjoyed prior to retiring if we worked until age 70. (Gasp.)

But I hate my job! Theres no way I want to keep working for that company for another ___ years!

Deeeep breath. You dont have to continue to slog away in the job you currently have. (Although if you enjoy it, thats your best option.) All you have to do is work someplace where you can earn enough money to cover your daily living expenses.

70 = the New 65

The key to this strategy is two-fold: Once you reach age 62, a) resist the temptation to file for Social Security benefits, and b) dont take any withdrawals from whatever personal assets you have, such as a 401(k), IRA, etc.

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Easy Fix for Retirement Problems: Work Longer

PEORIA, Ill., June 25, 2012 /PRNewswire/ -- Alliance Benefit Group (ABG), one of the nation's largest retirement plan providers serving small- and mid-sized companies through a national network of independently-owned, full-service licensees, has taken a leadership role in advocating for the retirement industry. ABG recently submitted an extensive request to the Department of Labor (DOL) seeking clarification on the new DOL regulations impacting employers in 2012 as reported by PLANSPONSOR, a leading retirement industry publication.

ABG's independent retirement administrators serve over one million participants across the country through approximately 13,000 plans, representing over $38 billion in assets under management.

"As a growing network of independent retirement administrators, ABG embraces its leadership position in addressing retirement issues that not only impact independent recordkeepers but the important small employer segment," said John G. Hopkins, IV, Executive Director of Alliance Benefit Group. "ABG is uniquely positioned to be the collective voice to Washington on independent employee benefits consulting and administrative issues that are critical to the 50-to-5,000 participant retirement plan."

"While ABG provides the scale and technical expertise for licensees to share best practice ideas as well as greater buying power, the organization's larger mission is to shape the industry's identity with policy makers by filling an information void for both service provider and plan sponsor segments," added John Carnevale, President of Sentinel Benefits & Financial Group, ABG's newest licensee headquartered outside of Boston, MA.

About Alliance Benefit Group, LLC

Alliance Benefit Group, LLC is a national network of independently owned retirement plan consulting; investment advisory; health and welfare consulting; and benefits administration firms that operate as "Licensees" of Alliance Benefit Group, LLC. Collectively, Alliance Benefit Group is one of the largest retirement plan administrators in the country, providing administration services to over 13,000 plans representing more than $38 billion in assets and over one million participants. For more information, please visit http://www.abgnational.com.

About Sentinel Benefits & Financial Group

Headquartered outside of Boston, MA, Sentinel Benefits & Financial Group is a leading employee benefit consulting and administration firm. Our broad range of financial services makes Sentinel Benefits an excellent choice for clients seeking a single resource to manage all of their employee benefits including group insurance brokerage, Flexible Spending Accounts (FSA), Health Reimbursement Accounts (HRA), COBRA, retirement plan consulting and administration and investment advisory services. National in scope, Sentinel serves more than 3,500 businesses primarily in the New England and New York regions. For more information, please visit http://www.sentinelgroup.com.

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ABG Embraces Role as Advocate for Independent Retirement Administrators and Smaller Employers

LOS ANGELES--(BUSINESS WIRE)--

Transamerica Retirement Services today announced the introduction of Stash & Dash, a retirement savings game for users of Facebook. Stash & Dash allows players to enjoy a light-hearted game about saving for retirement. The goal of Stash & Dash is to navigate your piggy bank player around obstacles and collect as many coins as you can by the end of the game. The player controls the piggy bank to collect coins representing different ways of earning income, which then must be deposited along the way to earn interest. Throughout the game, players encounter and can escape money trolls, symbolizing monetary setbacks that can impact savings. Players can invite friends to try and beat their scores and have the ability to post their scores on their Facebook wall.

Stash & Dash is available online at http://www.Facebook.com/TransamericaRetirementReadiness and in the Apple iTunes store for iPad tablets.

Transamerica helps empower savers to make educated decisions about saving for retirement, said David Shute, vice president of marketing for Transamerica Retirement Services. We know that people love playing games on social media sites and Stash & Dash is designed for entertainment. By liking our page on Facebook, people can enjoy a fun game and access interesting and impactful content about retirement readiness from Transamerica and other well-known sources. Our Facebook page has a wealth of content to help savers prepare for retirement, and we hope Stash & Dash will attract Facebook users to check out the educational resources we offer.

About Transamerica Retirement Services Corporation

Transamerica Retirement Services Corporation (Transamerica or Transamerica Retirement Services), which is headquartered in Los Angeles, CA, designs customized retirement plan solutions to meet the unique needs of small- to mid-sized businesses. Transamerica and its affiliates have more than 17,0001 retirement plans totaling more than $20 billion1 in assets. For more information about Transamerica, please refer to http://www.TA-Retirement.com.

1As of December 31, 2011.

TRSC 6298-0612

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Transamerica Retirement Services Creates Online Game to Illustrate the Journey of Saving for Retirement

MANY retirees, especially those in the lower income group, are at a crossroads in their life over how they would fund their golden years, but many dont consider the impact it would have on them emotionally and psychologically. It is just as important to consider the emotional and practical implications of these lifestyle changes, as many will be in for a shock when they reach retirement.

The following is based on Scottish widow research studies: while money worries were the biggest challenge retirees faced after they stopped working (30% of them stating that they did not have enough money to enjoy their new free time to the full), many people also highlighted the lifestyle challenges that came with the transition .

In Malaysia, when private sector retirees in the lower income group retire at 55, the most they would have in their EPF is about RM50,000. This amount of money would sustain them for between three and 10 years, depending on their lifestyle and spending pattern.

Faced with a sudden lifestyle change, one in seven (15%) retirees said that one of the biggest challenges they faced was coping with their reduced social life after leaving work.

Further to this, nearly a quarter (23%) of retirees missed the sense of structure in their life that came with working, leaving them at a loss over what to do with all their free time, and three in 10 found they simply didnt have enough money to fully enjoy their new life.

The psychological effects of retirement are also a major concern with 29% of retired men, who say that the transition from working to retiring was hard to deal with, compared to 24% of retired women who felt the same.

Understanding the current situation with the rise in the cost of living and the increase in life expectancy of Malaysians to 75, the Government has proposed 60 as the retirement age for private sector employees, with a pension scheme plan at a discussion stage with various stakeholders.

However, the expectations prove to be worse than the reality, with the Scottish widow research studies revealing that more than two-fifths (43%) of over-50s expecting the transition to retirement to be harder than retirees actually find it to be.

This added anxiety can be seen in the increased concerns that future retirees have about the challenges they would face when they stop working, including more than one in eight (13%) who wont be in good enough health to enjoy their retirement, around one in five (22%) who dont want to leave a job that they enjoy, and a further one in eight (13%) wont know what to do with the extra time on their hands.

The magic formula is to stay healthy, maintaining social support, keeping spiritual life and finances in order, and developing a daily routine that can help prevent stress after retirement.

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Retirement challenges

Saving for retirement as a married couple is not an easy task. Add to that saving for college, while also paying for a mortgage, and you have a recipe for disaster if you don't have a well thought out financial plan. Often, many couples decide to have one partner stay at home once they have children. This means that the couple will have to handle saving for all life goals on a single income. To effectively prepare for retirement, you'll have to be very strategic and extra careful with your budget in order to increase your savings.

SEE: The Dangers Of Paying For Your Kid's College

Run Your Household As a Successful BusinessThe first way to get a hold on your finances in preparation for retirement is to trim your expenses. Write down all the items you buy on a regular basis and analyze this list with your partner. Be completely honest about your spending habits and thoroughly look at everything. Set emotions aside and look at your household as a business. You and your partner are the CEOs, and to effectively run this business you will have to turn a profit. So, limit your expenses and eliminate items you do not need. You know that you'll save in lunches and gas because the partner not working outside the home will need to spend less on these items, but look at items you can eliminate or minimize.

Boost ContributionsIn order to meet retirement goals, it's essential to boost the amount that you contribute in order to make up for the missing income. If you were planning to retire at 60, expect to work a few more years. Also, increase the amount you contribute to your retirement plan. If you were contributing 10%, find ways to increase this percentage to 15% or higher. Remember, you'll need to put a lot more away so you'll need to be aggressive. Try to max out your retirement plan. If you file a joint tax return, the working spouse can open a Roth or Traditional IRA and contribute the max amount of US$5,000, $6,000 if over 50. Once your joint AGI reaches $166,000, contributions will be limited. When it reaches $176,000, it is phased out completely.

SEE: How To Save More For Your Retirement

Minimize and StrategizeThe key to saving for retirement effectively on only one income is to stay focused on your long-term goal and rein in expenses. Begin saving early and minimize eating out as this expense can really add up. Get creative on clothing combinations so you don't have to buy new clothes frequently. Minimize going out to the movies and consider working out from home. Buy clothes at thrift stores. Many times, people donate brand new clothes with tags still attached. Also, don't add to your expenses by using credit cards. Make sure you have the discipline to save for items and pay in cash or at least be sure you can pay the credit card bill in full. It's important to be strategic about your budget and figure out the best way to get the extra funds you'll need for retirement. It might be necessary for the person still working to try and get a higher-paying job.

The Bottom LineSaving for retirement on just one income will be difficult, but it is doable. The best way is for the partner who is at home to stretch the dollar and get extra income from different sources. This will create a healthy financial life in the home and help you both reach retirement age with a hefty and comfortable nest egg.

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Retirement Tips For Single-Income Homes