If you think you don’t have enough money to retire, you have options.
One is to wait to retire. The longer you wait, the more time you have to save and the less time that your savings has to support you through retirement. Paying down debt – especially high-interest rate debt – can also stretch your savings since you won’t need income to make those payments when you’re in retirement.
Another option is to re-balance your investment portfolio to include more stocks and fewer bonds, within the limits that your investment advisors recommend for your money’s safety. This can increase your returns over time, potentially making your money work harder for you.
About the Author
Solomon Poretsky has been a writer since 1996, with experience in the fields of financial services, real estate and technology. Poretsky holds a Bachelor of Arts in political science from Columbia University.
This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.
Published by permission from ConsumerInfo.com, Inc. © 2013 ConsumerInfo.com, Inc. All rights reserved.