There's only about one action you can take at this late date to reduce your 2011 taxes, contributing to an individual retirement account for 2011.

Cheryl and Jim Friedman, retirees in St. Louis, had two-thirds of their retirement money in the stock market in 2008. When the financial crisis struck that fall and stocks lurched up and down with nauseating speed, Cheryl, a former accountant, pulled the money out.

Avoiding the nightmare financial scenario in retirement running out of money is getting trickier.

Despite the best of intentions, retirees tend to make the same money mistakes over and over and over again. But eventually you're going to run into trouble if you don't break the pattern of financial neglect. The money simply may not hold up in the long run.

From financial nuts and bolts to more holistic aims, here's a look at seven worthy resolutions for retirees to commit to in 2012

Americans' wealth last summer suffered its biggest quarterly loss in more than two years as stocks, pension funds and home values lost value.