It's Never Too Late

Although its never too early to plan for your financial nest egg, it is also never too late. All you need is a plan and a commitment to catch up on your contributions for your golden years.

First plan and figure how much income you'll need in retirement and which retirement savings plan is best for your situation. Many financial planners suggest a target of approximately 75% of your pre-retirement income in order to maintain your current lifestyle.

Then commit to saving for the plan. Contribute regularly by setting up automatic transfers from your savings account to an individual retirement account. Make saving a priority, buckle down and don't be afraid to make sacrifices in order to focus on your financial goals. Adding regularly can have a substantial impact on your total savings over time.

A thorough assessment of your retirement strategy can help ensure you're on the right path. Consult with your financial advisor every year to review the performance and progress of your investments. Remember it's never too late to get started...so what are you waiting for? - CT