If you are in your 50s and 60s and haven’t saved enough for retirement, there are 3 short words that will kill all of your future dreams… “It’s too late.” In reality, there is plenty that we can do in the years leading up to retirement to give our 401K a boost. We just need to know where to start!
When we think about retirement planning mistakes, most of us think of things like “not starting to save young enough,” “taking on too much debt,” “not buying a house,” or “not saving 10%.” What these mistakes have in common is that they are all things that we do (or don’t do!) in our 20s, 30s and 40s.
Read any retirement planning book these days and one piece of advice will stand out – start saving early! Well, this is all well and good, but, the truth is that many of us are already in the final years before retirement. The decisions that we made in our 20s and 30s are set in stone. Now, we want to know what we can do to make the most of our money in the years that we have left!