Retirement Plans Derailed by the Market? Here's What You Can Do

More than a few older investors probably thought they were headed for a comfortable retirement with an endless supply of money for fishing gear, bingo, Bermuda shorts and toys to spoil the grandkids.

But many retirees or near-retirees, some of who may have overexposed themselves to the market and tech stocks in particular, have now lost significant amounts of money. In fact, retirees are flooding the American Association of Retired Persons (AARP) with calls and letters asking how to survive on what they have left, reports John Rother, director of legislation and public policy for AARP.

"Not everyone is panicking, but there is broad and deep anxiety," says Rother. "We are getting calls and letters form people who are retired, who feel like they have no way of making up the losses that they experienced, and from those who are near retirement whose plans are now up in the air." ...