What To Do When You’re Behind On Retirement Savings

My my how the years can fly by. One minute you’re a fresh 22 year-old starting your first real career. Then next thing you know, you’re 30 something with nothing much to show for retirement savings. It can happen to anyone. But, instead of freaking out over your lack of savings, use this time to amp up.

It’s never too late to start and depending on the actions you take today, you can still have a pretty good retirement cushion waiting for you down the road. Here are some ways to hunker down and start saving on retirement now.

#1 – Increase Savings Percentage: This is a good time to see how much more money you can take from your income and add to your retirement.

#2 – Use Your Raises And Bonuses : When you get a raise or bonus, take that extra money and put towards your retirement.

#3 – Move: It may make sense in the long run to just move. Move to where the cost of living is cheaper, so you’re able to put some of that extra money towards retirement.

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