How can I catch up on my retirement savings?

How can I catch up on my retirement savings?

There are several strategies you can consider, such as increasing your contributions, taking advantage of catch-up contributions, and reviewing your investment options. What age are you currently?

I'm 45, and I feel like I'm behind.

At 45, you still have time to make significant progress. You can contribute an extra amount if you're over 50, and consider maximizing your employer's match if available.

What if I can't afford to contribute more right now?

If increasing contributions isn't feasible, consider cutting back on discretionary spending or reallocating funds from other savings. Every little bit helps!

Are there specific investment options I should focus on?

Yes, consider a mix of stocks and bonds that align with your risk tolerance. Target-date funds can also be a good option for retirement.