Make Catch-Up Contributions
Catch up contributions are great for people who didn’t have the means to save for retirement early on. If your golden years are just around the corner, now’s a great time to start investing in your future by adding a little extra to your savings accounts each year.
And by ‘a little extra’ we mean $1,000 to your IRA and $6,000 to a 401(k), 403(b) and 457 plans if you’re 50 or older. This should help boost your savings considerably. Just think about the extra cushion you’ll gain by the time you retire when you’re, say, 70 years old!