Ways to Accelerate Retirement Savings

If you realize it’s time to beef up the retirement savings account and you have used your limit on IRAs and your 401(k), don’t worry – you have options.

First, set a goal. Figure out how much retirement savings you will end up needing by looking at your expenses and social security or pensions. It is simply not planning well if you merely stash money away.

Second, get a financial advisor to help you plan. By having a coach to help you along the way, you will be held accountable and more likely to stick with your plan and achieve you savings amount.

Next, if you are still at a company that offers 401(k) benefits, take advantage of it. At the least, contribute the necessary percent of your pay to get the company match.

To read more about accelerating retirement savings, visit Fox Business.