Wall Street Journal columnist Brett Arends wrote a recent piece (subscription required) titled "How to Salvage Your Retirement."

As is almost always the case with Arends, a very interesting and worthwhile piece.

The article contains some fascinating statistics and reminders:

• 29 percent of those already retired having any savings at all.
• Only a third of those already retired have saved at least $50,000.
• That $50,000 would provide a 65 year old male retiree with an annual annuity payment of just $4,000.

Arends' common sense recommendations include the following:

• Delay retirement.
• Scale back on retirement costs.
• File "Chapter Heaven" by annuitizing a good portion of your assets at the expense of your heirs.
• Save more.