It is no secret that many Americans are bad at saving.But let's face it, recession or not, saving for retirement is a must. And it is not easy.

In fact, researchers for The 2009 Retirement Confidence Survey found the current economy has pushed confidence to a new low. The survey noted that workers confident of having enough money for retirement rest at 13 percent -- a record low since the Retirement Confidence Survey started inquiring of such in 1993.

Similarly, it found only 20 percent of retirees are confident about having a "financially secure retirement." It went down from 41 percent in 2007.

Therefore, a successful retirement plan either means you face choices -- to work longer, spend less, save more -- or a combination of these.

People planning to retire in the next seven years were taught the key elements for putting together a proper retirement plan during the Bank of Hawaii's "Saving for Retirement" seminar on Oct. 21.

Additionally, those with more than seven years ahead of them were told what factors to consider when creating such a plan. The seminar was held at the bank's Hagåtña branch.

"To get from one side of the United States you have to draw a map. Saving is like that," said Nacia Atalig, vice president and business banking manager at the bank, who presented on the issue. "The first step on your road map is to start now. Don't put off your planning and investing for your retirement."

Atalig said that before you can start creating a plan for retirement, you must ask yourself three basic questions. Those questions are:

1. What kind of retirement do you want?

# Here you must also factor in your spouse's plans and any financial provisions you must make for your children or grandchildren.

2. When do you want to retire?

# Atalig said the earlier you retire, you will have a shorter time frame to gather all the money you will need to last throughout retirement.

# Remember also that Social Security is not available until you are 62 years old.

# Medicare eligibility won't happen until you are 65 years.