All of the experts agree – the sooner you start saving for retirement, the better off you’ll be when the time comes. But what if you haven’t started yet? What if you are getting close to retirement age and you are worried you won’t have enough saved?
According to a recent survey, 28% of Americans over the age of 55 have no retirement savings, and another 26% have under $50,000 saved. Social Security will provide some assistance, but will not meet all your needs. So what can you do now to fill in the gaps?
You can take advantage of catch-up contributions in retirement savings accounts, turbocharge your savings, and considering working longer or delaying when you file for Social Security. This article provides full details on all of these options.