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Most of us don’t want to think about the day when we can no longer take care of ourselves, or when our loved ones can no longer live on their own. But the hard truth is that 70% of us will need some form of long-term care once we reach our golden years.

Whatever the cause, volatile markets always bring an immense amount of anxiety among retirees who have less time to make up for losses. Here are some tips to minimize the impact of volatile markets on a retirement income plan.

1. Stay the Course

Retirement in the 21st century looks a lot different than retirement at the turn of the 20th century. First and foremost, the concept of stepping away from a career or life on the farm was relatively unheard of at the turn of the 20th century. Another major shift has been in the average life expectancy of Americans.

Whether you live in the colder climates of the northern United States or in a densely populated urban area, you might find that summer is a great time to get away. If you're tired of renting condos or staying in hotels, one of the best ways to avoid that hassle is to purchase your own summer vacation home.

Retirement looks different to different people. Some envision a time of relaxation and travel. Others view this time in life as an opportunity to connect deeper with a partner or pursue those hobbies that were always difficult to find time for while amid a career. For others, retirement is just the second act of life. This is a time when some opt to start a new career as their own boss.

The decision to retire brings with it several choices that individuals must make. You not only have to decide how much to save for retirement and when to finally pull the trigger and retire, but you also should consider how your retirement savings are going to hold up during retirement and what kind of expenses might lay in front of you on the road through retirement.

As the debate rages on regarding the wealth gap between the various generations of Americans, one thing is for certain regarding Generation X: this group has time.

As you approach retirement age, there are a lot of decisions to make. Should you retire ahead of or after the standard age of 65 years old? What about withdrawing from your private investment accounts? How much should you take out and how often? There are a lot of decisions to make, and many of those will involve adjusting your lifestyle to meet your new income streams.

With each passing year, people set out new resolutions for how they are going to live their life. The New Year is also a good time to reevaluate certain things in life.

Diversity is part of the beauty of the United States of America. While some cities and states might appear the same from a distance, there is something unique about each and every locale you visit from sea to shining sea. For retirees, there are several factors to consider when looking at relocation in retirement.