Article discusses strategies for those behind on retirement savings, emphasizing the importance of starting now
From Yahoo Finance: 2025-04-16 08:15:00
John, 42, hasn’t saved for retirement, causing panic. If in your 40s and haven’t planned, start now. Strategies can help catch up and maximize savings. Saving in your 40s offers tax breaks and inflation protection. Start now to cover future needs and benefit loved ones.
To start, John must track finances, pay off debt, build an emergency fund, and contribute to retirement accounts. He should aim for a $1.25 million nest egg for a $50,000 annual retirement income. Cutting expenses and boosting income can speed up savings. Monitoring progress and seeking professional advice are key.