It may seem hopeless to play “catch up” when retirement approaches, but don't give up. Even if you have little invested, you may be financially secure.
To allocate retirement funds wisely, you need a financial plan. Consult a certified financial counselor to put this together.
As you become older, there are more options to save more in tax-advantaged accounts. This can help you catch up on your retirement savings while also saving you money on taxes.
HSAs allow people with high-deductible health plans to contribute to a tax-advantaged savings account.
Retirement debt reduces monthly cash flow and makes retirement difficult. Reduce high-interest debts with hefty monthly payments to retire with less.
Concentration is essential when you are older and attempting to save for retirement. Keep things simple and don't get distracted by financial goals.
If you are unsure whether you will have enough money, part-time job may help you bridge the gap.