Low on Retirement Savings? 3 Cost-Cutting Moves to Make
There's no single, specific amount that will guarantee you financial security throughout your retirement. As a general rule, it's good to close out your career with 10 to 12 times your ending salary on hand in your IRA or 401(k) plan. That, combined with income from Social Security, could be enough to cover your senior living expenses and leave you with enough money left over to enjoy your newfound free time.
But for some people, saving for retirement is a real struggle. And you may be approaching the tail end of your career with little money socked away for your senior years.
If so, you clearly can't go back in time and sneak more money into your account. But one thing you can do is make lifestyle changes that compensate for your lack of savings. Here are a few to consider.
Source Fool.com
