Dear Helaine: I'm a 63-year-old corporate executive and was unexpectedly offered an early retirement package as part of a corporate downsizing. The package is OK, but nowhere near enough to carry my wife and myself through the next few years. I don't want to file for Social Security till my late 60s, so I can get the full benefit.

I can turn it down, but then I could be let go with a much smaller package if there are layoffs. I don't have a pension, but I have a substantial amount in my 401(k). I was counting on having another four or five years to beef up my savings between contributions and appreciation. Now what do I do? Who's going to hire me at a salary anywhere near what I was making? How can I recover from this? -- Holding On

Dear Holding On: I am sorry to hear this but not terribly surprised. All too many people -- perhaps a majority -- over the age of 50 are pushed from their workplace before they are ready to retire. Few are able to fully compensate for the financial damage that results.

There is no magic formula for making up for losing your salary before you expected it to happen. Moreover, age discrimination is not just an unfortunate reality, but also one that's extremely difficult to combat because it is very hard to prove, thanks to a Supreme Court ruling in 2009. Legislation to fix that has been stalled in Congress ever since.

So what should you do now? First, don't make any decisions about taking that early retirement package without consulting a lawyer who can explain the contract to you -- as well as let you know if you have a possible legal claim. You should also reach out to a financial planner who can advise on your financial situation.

It's quite possible there is room to negotiate a better package -- the first offer is often just that. But it's likely you will need to make lifestyle adjustments. Could you find a position that will pay you a portion of your current salary? How can you scale back without feeling too deprived? Could you make do with a smaller home, or move to a less-expensive community?

I can't answer these questions for you. Only you can do that. One other suggestion: You might consider reaching out to your elected representatives in Washington and suggest they support the Protecting Older Workers Against Discrimination Act.

(To ask Helaine a question, email her at askhelaine@gmail.com.)

(EDITORS: For editorial questions, please contact Sue Roush at sroush@amuniversal.com)

Dear Helaine: Earlier this week, I met one of my gal pals for lunch at a restaurant near my home. As the waiter cleaned the table, a plate slipped and sauce spilled on my friend's dress.

She decided to ask for a credit on our check since she planned to take the outfit to a dry cleaner. The waiter didn't want to do it, but she insisted. At one point as she spoke, I thought I heard him say, "The owner will take this out of my pay." She kept talking, and I don't think she heard. I didn't know what to say, so I said nothing.

When the check came, I added the $10 discount to my tip and didn't say anything to anyone. Now I am wondering if I can ask my friend for the money back. What would you do? -- Dining Blues

Dear Dining Blues: Whether it's legal or not for the restaurant to take the money out of the waiter's pay depends on how they are paid. It's absolutely a legal no-no if it will bring the waiter's earnings below the state minimum wage. Tips are also mostly off-limits. As a result, it's very hard for a restaurant owner to do this and remain on the right side of the law. That doesn't mean it doesn't happen -- it does, and much too often. Restaurants ding waiters and other staff for everything from broken dishes to customers who skip out without paying the bill.

Obviously, the time for you to figure this out would have been at the time of the mishap. All you needed to do then was simply speak up and say, "Did you say your boss would charge you for this?" as he and your friend went back and forth. You likely didn't want to embarrass your friend, and also, most of us think of these things after the fact. Instead, you made an executive decision to compensate the waiter yourself and not discuss it with your pal.

Since you didn't allow her to make a decision at the time, you can't ask her for the money back now. But you might want to avoid the restaurant in the future for its less-than-ethical treatment of its employees. Accidents happen, and a good owner and management take that into account. If you decide to do that, you should call up, ask to speak to the owner, and explain why you are taking your business elsewhere. Perhaps you can make a positive change in the restaurant's business practices.

(To ask Helaine a question, email her at askhelaine@gmail.com.)

(EDITORS: For editorial questions, please contact Sue Roush at sroush@amuniversal.com)

Dear Helaine: I am 68. I recently sold my condo, and I am purchasing a new home in a state popular with retirees. The home will cost about $250,000. Should I get a mortgage or pay cash?

Here's the situation: I've got enough cash to pay about half outright, and then I'd need to unravel some investments. I'd still have several hundred thousand dollars remaining, something that will throw off about $15,000 annually in dividends and interest payments. In addition, I have a decent income from Social Security, and I believe I can get a part-time job, one I think will add at least $10,000 in income a year.

My accountant says I would have no tax advantage getting a mortgage, but my broker says I should mortgage the purchase since my portfolio return well exceeds the mortgage rates of 3.75% to 4%. I don't plan to make any other major purchases except maybe a new car in a year or two.

I really don't want to take on a mortgage of $1,000 per month or more. To me, paying cash is like 3.75% to 4% guaranteed money. Your thoughts? -- Soon To Start Over

Dear Soon To Start Over: There is no reason to take on a $1,000-a-month mortgage payment at your age if you've got the cash to pay the home down immediately, while still leaving you with a tidy nest egg. Common sense says we should minimize regular, repeating expenses when we leave the workforce, not pile them on. That goes double when, as in your case, you'll have an adequate income in retirement, but not an overly generous one.

The bigger question is why your broker is suggesting otherwise. I hate to be cynical, but I suspect the answer is weighted in the broker's self-interest. All that money you are putting into a home means less money for your broker to make investment suggestions on. That, in turn, means less money in your broker's pocket.

When you clean house prior to moving, let me suggest one other item to discard: your broker. I suspect someone getting paid by the hour would be best for you. You need a plan, not trading advice. When you seek a replacement, find someone who has a legal duty to put your interests ahead of their own at all times when giving financial guidance. And the only way you will know this is if you ask about it.

Good luck with your new home -- and your new financial adviser!

(To ask Helaine a question, email her at askhelaine@gmail.com.)

(EDITORS: For editorial questions, please contact Sue Roush at sroush@amuniversal.com)