Costs are outstripping incomes, putting added pressure on savings and investing. But there are steps to maintaining financial independence into retirement. First, nearing retirement does not mean going super-conservative with portfolios. More conservative than earlier? Yes. Ultraconservative? No. Something else to keep in mind, have enough liquid holdings to cover three to five years’ worth of expenses. A modest mortgage or a hardship withdrawal – in dire circumstances – are alternatives to borrowing money from family or friends. Another step is to try semi-retirement. This involves splurging a little more as retirement age approaches while staying employed. A person who works until age 70, but stops saving in their 60s would retire with almost twice the assets than if he retired at age 62.