However, saving for retirement still makes sense. It saves you taxes now and later. Furthermore, an aging population living longer means Social Security benefits may be reduced when you become eligible. So, start saving now by starting any one of following methods.

**Individual Retirement Account: You may contribute up to $3,000 in 2004, $4,000 in 2005-2007, and $5,000 in 2008 and beyond. When you reach age 50, "catch-up" provisions allow you to contribute an additional $500 in 2004-2005 and $1000 in 2006 and beyond. This means your IRA contribution in 2006 may be up to $6,000. **If your Internet web site incorporated, you may have an employer sponsored plan. The Savings Incentive Match Plan for Employees (SIMPLE plan) "SIMPLE plan contribution for 2004 amounts to $9,000. This increases incrementally to an "adjusted" $10,000 in 2006. **A SAR/SEP and 401(k) let you contribute up to $13,000 for 2004 (the maximum in 2006 is up to $15,000) Employer sponsored plans also allow "catch up" provisions for workers over age 50. For example, an employee over age 50 may contribute a "catch up" contribution of $3,000 for 2004 (the maximum "catch up" contribution is $5,000 in 2006).

IRA accounts and employer accounts may be opened at banks and brokerage firms. Check with your tax adviser and financial consultant first.

Social Security provides for basic needs during retirement. Make sure your resources permit lifestyle you want by saving for your retirement now.

Ray Randall is a registered investment advisor with Ethos Advisory Services, Essex, Massachusetts http://www.ethosadvisory.com. He writes a weekly newsletter for Ethos Advisory Services, and is webmaster for Echievements . You may write to him or call (877-895-3756).

QUESTION IS THE GLASS HALF EMPTY OR HALF FULL? RESPONSE Half full.

QUESTION WHEN WAS THE LAST TIME YOU LAUGHED TILL YOUR STOMACH HURT AND YOU CRIED RESPONSE Not any time

QUESTION WHO HAS BEEN A STRONG INFLUENCE IN YOUR LIFE? RESPONSE Dad!

QUESTION FAVORITE SPORT TO WATCH RESPONSE When I was a little baby I liked to watch baseball.

QUESTION WHO INSPIRES YOU? RESPONSE Granny

QUESTION IF YOU COULD TRAVEL ANYWHERE IN THE WORLD, WHERE WOULD YOU GO? RESPONSE I would go to Rancho Santa Fe. (Where her other grandmother lives.)

QUESTION FINISH THIS SENTENCE: IF YOU DO THAT ONE MORE TIME, I'LL JUST HAVE TO … RESPONSE Run away

QUESTION WHAT IS COMFORTING? RESPONSE Flowers comfort me