Dos and Don'ts for Late-Start Retirement Savers
Practical tips for making a save if you're getting serious about your retirement plan later in life.
Despite the helping hand of a strong market for five-plus years, plenty of workers are playing catch-up when it comes to their retirement savings.
According to data from the National Institute on Retirement Security, two thirds of working households age 55-64 with at least one earner have retirement savings that are less than one times their annual income. Given the shrinking share of households covered by pensions, it's no wonder that 72% of people age 50-64 believe they will have to delay retirement, according to an AARP poll, and half don't think they will ever be able to retire.