Planning on putting off retirement? You re not alone. About 70% of current workers plan to work for pay in retirement, up from a recent low of 63% in 2008, according to the Employee Benefit Research Institute s 2010 annual Retirement Confidence Survey.

Although some retirees simply like staying active, most haven t yet managed to recoup the savings they lost during the most recent stock market crash. But that doesn t have to mean putting off retirement or getting a job.

With a few budgetary cutbacks and some decisive money moves, you can improve your future retirement outlook, says Mari Adam, a financial planner in Boca Raton, Fla. What s more, doing so can also help you gauge how realistic your assumptions are. Nothing is worse than taking the leap before realizing you can t live on less, she says.

Here are seven ways to trim your expenses so you can boost your nest egg.

Trim your housing costs

Consider trading down to a smaller home. Doing so can not only allow you to plow your gains (if you have them) into a retirement savings account, it can also help shrink your taxes, utility bills and home maintenance costs, says Jean Setzfand, the director of financial security for AARP. If you plan to buy rather than rent, which might also deliver some savings in this market especially, be realistic. Purchase only what you need, not what others will buy, she says. A house is not an investment.

Keep taxes in mind

Consider moving to a place that offers tax advantages, suggests Mark Kennedy, the president of Kennedy Wealth Management, an investment advisory firm in Woodland Hills, Calif. Alaska, Florida, Nevada, South Dakota, Wyoming and Washington, for example, don t have state income taxes. New Hampshire and Tennessee tax dividend and interest income only, while Oregon, Alaska, Delaware, Montana and New Hampshire don t levy a sales tax. Further, he adds that homeowners over the age of 55 who move within the same county in California can carry their property tax basis with them as long as the new home is of equal or lesser value than the former home. (Note that this transaction is only allowed once in a single individual s lifetime.)

Eliminate pricey debts

Although some debt such as a mortgage and student loans can offer valuable tax deductions, other debts are just plain worthless. Before you can even begin to save, you have to eliminate high priced debts such as credit cards or payday loans, says Adam. Even mortgages can keep you lodged in a hole, she says. Start paying down extra on mortgage or your credit cards each month, then you can really save.

Drain your savings account

Having cash set aside in a liquid, easily accessible account is ideal as emergencies do happen. However, when the downturn hit and people started losing their jobs, lots of advisors were recommending clients keep two years worth of income on hand, says Setzfand. Even though the job market is still uncertain, having just six months' worth of savings should suffice, she says. If you do have a stockpile of money in a savings account, you might want to get greater returns in longer-term accounts, Setzfand says.

Keep your priorities straight

Many parents want to help their kids financially so they can avoid huge debt loads. However these days, cutting back on that kind of generosity may be necessary, says Adam. I see people putting money in their kid s 529 plan but they aren t saving for retirement, she says. I love my kids, but priority No. 1 should be saving for retirement and No. 2 is saving for college.

Plan for eventualities

If you do plan to save for your child s college costs, don t automatically turn to a 529 plan, says Kennedy. What happens if your child gets a scholarship? Or what if you lose your job? Although a 529 plan s funds can cover another family member s education costs, that money is otherwise inaccessible unless you want to pay taxes, he says. Instead, create a savings account that benefits your child but remains in your name, he says. That way, you always maintain the cash. And later on, if you want to pay for a child s college tuition, just pay it directly, says Kennedy.

Don t overpay for investments

Your investment choices may be weighing you down. For mutual funds, for instance, stick to investments that offer a 1.5% annual expense ratio or less, say Kennedy. To compare investment fees within your company s 401(k) plan, check out BrightScope s free personal fee report. San Diego-based BrightScope is an independent financial intelligence firm that has rated more than 45,000 plans.

While you re gauging fees, consider how much you re paying your broker or money manager, says Kennedy. A 2% management fee might not sound like a lot, but for an account with $500,000 that fee works out to a loss of $10,000 a year, he says, adding: Over 10 years, that s $100,000 in fees even if the account doesn t go up in value.

Setzfand suggests shopping around again. Find out what other folks are paying for investment help. You don t have to leave, but it doesn t hurt you to try renegotiating, she says.