Step 2: Maximize your contributions to qualified retirement plans at work. If you can't afford to contribute the maximum allowed by law (find out IRA eligibility and contribution limits here), at least contribute the amount necessary to take full advantage of any matching funds provided by your employer.

Keep your available retirement bucks working. DON'T stop contributing to qualified plans because the stock market is so weak. Instead, at the moment, keep contributing to the plan, choosing a guaranteed investment option (preserving your capital) provided by your plan.

Step 3: Cut expenses and spending. Do this immediately and start saving! It's a no-brainer, but you'd be surprised how many people don't take this essential step.

Step 4: Protect what money you do have invested. At the moment, we recommend that you be very conservative with your investments. The worst is not over yet, but there will there be a time to invest in quality, blue chip companies that will likely grow your nest egg MUCH more quickly than investing in guaranteed options. We may be heading for the buying opportunity of a lifetime, but it's not here yet. If appropriate to your investment objectives, stick with Certificates of Deposit (CDs), AAA- and AA-rated taxable corporate or tax-free bonds, and Treasury securities.

Step 5: Consider a "golden" career. Whether you like it or not, you may have to work full- or part-time to make ends meet and/or enjoy life's little extra treats in retirement. The time to prepare for that is now. Make yourself more attractive for possible future employment by learning additional skills in your chosen field or a developing new set of skills if you want to try something different after you retire.

Step 6: Review your current retirement benefits. Understand which benefits you will continue to receive (or not) in retirement from your employer and familiarize yourself with how they will work.

Dolan Straight Talk Tip: You can get an idea of what you can expect from Social Security when you reach full retirement age. Go to your local Social Security office and ask for form SSA-7004, called the Request for Social Security Statement. (You can also request the form online by clicking here.) If you submit this form, you will get a statement that provides information on your future eligibility for Social Security benefits and estimates of these benefits at specified dates. Social Security won't, by any means, take care of all your financial needs in retirement, but it's still helpful to know what you can expect.

Don't Panic, But Don't Delay

If you plan to retire in the next few years but either haven't saved enough or have seen your retirement savings dwindle in the current crisis, don't panic. You are definitely not alone. But, DO get on your horse today and start with these six steps.

There are no "silver bullet" or "one-size-fits-all" solutions here, but you can do it with hard work and sacrifice that will pay off later.

We know some of you may want to talk with a financial pro. That's certainly fine, but we recommend that you search for a financial planner that is compensated by fee only, not commissions. Start your search at the website of the National Association of Personal Finance Advisors, at www.napfa.org.

For more information, we recommend these additional resources at Dolans.com:

• The Retirement Tool You Absolutely Need
• The Dolan Retirement Catch-Up Plan
• Slide Into a Smooth Retirement

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