Hardly a week goes by without a personal finance magazine commenting in one way or another that Americans are ill-prepared for retirement. Yet in spite of these alarming and repeated warnings, we Americans and specifically we Iowans appear to be in denial that the post-World War II affluence we’ve enjoyed could evaporate during our expected “golden years.” It’s news we don’t want to hear. We are in denial, and it’s time for us to find a road to recovery right here in Iowa.

Forty-three percent of Americans will be at risk and won’t be able to maintain their lifestyles in retirement, according to the National Retirement Risk Index developed by the Center for Retirement Research at Boston College.

A recent “Nest Egg Index” survey by A.G. Edwards & Sons Inc. shows Midwestern areas, and several Iowa cities in particular, as having higher savings rates than much of the United States. However, the personal savings rate of Americans was negative in 2005. As a group, Americans spent $1.02 for every dollar of 2005 income. A study by Americans for Secure Retirement shows that residents of Polk County are at moderate risk for financial insecurity during retirement.

What has happened? People are living longer. Greater life expectancy equals the need for more money. Medical costs are going up. Medicare may be technically insolvent by 2014. The Social Security trust fund will be exhausted by 2041 — paying for only 74 cents of each dollar of scheduled benefits. Company pension plans either have been terminated or are at risk of being terminated. Today’s ticket to retirement is your own personal 401(k) or IRA-type plan. The plans are designed to make you responsible for their success, not your employer.

Finally, as I stated, many Americans save nothing outside of a retirement plan. Only 18 percent of Americans have saved enough to generate just $4,000 per year in retirement income.

How do you get out of denial? You need to accept that YOU are responsible for your retirement, not the government or your employer.

Weigh your personal choices — save more, spend less and/or work longer. A critically important piece of your planning is to come to an understanding of who you are and how you want to live during your retirement years. Retire with your current standard of comfort? Downsize your home; focus on friendships and volunteering opportunities? Upsize with a second home, travel abroad or renew your work career by starting your own business?

Consider whether you will continue to work. According to research from AARP, 70 percent of pre-retired workers plan to work part-time or never retire at all because they either want to stay active, remain useful and have fun, or need to work because they haven’t saved and invested enough for retirement. The Center for Retirement Research suggests that working even two years longer and saving 3 percent more will improve the chances for retirement security.

Whether it’s through study and self-discipline to do the planning yourself or getting good advice from a financial adviser, you need to get moving NOW. Get informed, get organized and get a plan in place that’s right for you. Just getting started on the road toward your own financial independence can be a gratifying experience. Because you know you’ve done something positive for yourself and you’ve left denial in the rear-view mirror. As the Nike slogan says, JUST DO IT, and do it now.

William Taber is president of Taber Asset Management LLC, an investment advisory firm in Des Moines.