Don’t Let Your Retirement Savings Slip Away
It’s never too late to start saving for retirement. It may not be easy if you get a late start, but it is possible. Here are three effective ways you can help build your retirement cushion back up to where it should be:
Be aggressive about saving money. Discipline yourself when it comes to budgeting. Think about downsizing your home after the children move out to save a little extra money.
Delay your retirement. This allows you more time to save and for your current savings to grow. Even just a couple of years can make a difference.
Take Social Security as late as possible. People that hold off until they turn 70 rather than 65 experience a higher investment balance.
For more information on how to save for retirement, visit The Wall Street Journal.