If you are over 50 and haven’t started saving for retirement, you most likely already know that you need to save more.
Running a retirement calculation that estimates that you’ll work until you’re 80 could be counterproductive. You might just throw your hands up and say, “Why bother?!”
You’ll want to map out a savings strategy (ideally with a financial planner), but your very first step doesn’t need to be using a retirement calculator. You know you are behind. Instead, make your step one more productive.
Figure out a way to make more money. That’s a sure way to jumpstart your retirement savings.
First, think about ways to increase your income with your current employer. In other words, start right where you are standing.