Separation or divorce can lead to financial strain, with the average cost of divorce in the U.S. ranging from $15,000 to $20,000. Ensuring a financially secure retirement after a major life change like divorce, especially if you’re in your early 50s with minimal savings, can seem daunting.

A survey indicates that 46% of Americans expect to have less than $500,000 saved by retirement, but believe $1.2 million is needed for a comfortable retirement. To boost retirement savings, consider cutting expenses like insurance costs by shopping around for better rates.

When planning for retirement, consider contributing to tax-advantaged accounts and making catch-up contributions if you’re over 50. Investing in a self-directed trade account or a gold IRA can also help diversify your portfolio and boost savings for retirement.

Goldco offers the opportunity to invest in gold and other precious metals through a gold IRA, with significant tax advantages. With a minimum purchase of $10,000, Goldco will match up to 10% of qualified purchases in free silver. Download a free gold and silver information guide to learn more.

Read more at Yahoo Finance: I’m 52 and recently separated with only $60K in a 401(k) and no other savings. What can I do to secure my retirement?