You're 10 years from retirement and have barely a penny to show for it.

You're in your fifties and if you're smart, you're thinking about both your age and your assets. Hopefully, your assets are many multiples of your age.  But there are tens of thousands of people who have little to show for their efforts.  This might come as a surprise but did you know that most adults lack a financial plan that will see them through post retirement? Consider a few facts. A healthy and wholesome lifestyle has led to a lower mortality rate and higher longevity. Add to that irritants like rising health care costs and waning coverage and what do you have? A pretty alarming scenario as far as your old age is concerned.

 Experts recommend after tax investment. The reason being that, you would have accumulated sufficient interest on your investment and are likely to be included within a lower tax bracket. Also, on retiring, you are likely to get certain benefits as in tax allowances and the like. For instance, if you are 60 years' old or over you may be compensated for your fuel bills. You can also lay claim to a tax-free pension if your spouse or partner died serving the country during a war or received a war pension.

It is also a good idea to draw up an inventory of your retirement assets as well as potential sources of income after retirement. You could hire a financial advisor's services to find out the tax treatment and source and plan your future expenditure accordingly.

Be warned that your post retirement income needs to grow continually otherwise inflation will simply swallow it up. Consider just one fact: with an inflation rate at only 3 percent, you stand to lose 41 percent on your asset value in three decades. This is significant in light of the fact that quite a few people spend one third of their lives as retirees.

The market-savvy would know that real estate or one's own resident has appreciated considerably. Under the current home sale exclusion rule you can sell your home tax free every two years. This rule can come in handy if your have a vacation home which you can sell tax free two years down the line. You would be best off investing in locations which have high investment returns.

Cash flow investment could cost you dear so it is best to think in terms of capital growth with residential property prices having doubled in several places.  Of course, property appreciation won't continue forever. It is important to be flexible, therefore, and respond to market changes with savvy and alacrity.

There is no magic pill for real estate investment success; you need to have a plan, a compass directing where you need to go.  Real estate investors, who like to fly by the seat of their pants, won't be able to weather the storm.  A plan will keep you focused like a laser beam - allow needed flexibility - and often times result in easier decisions at crucial times.

Understand the difference between a bold, risk-taking real estate investor - and a well informed, professionally advised investor with a plan. The distinction is over the journey is literally measured in orders of magnitude. It is admirable to be a courageous investor going down in flames because he was woefully uninformed and/or without a prudent plan. The real estate investor, who knows the difference, will be prepared for the down times, and take much better advantage of the good times.

So consider real estate investment with the ability to focus, to be flexible, and be educated, as a vehicle to prepare for your retirement.