Start by crunching the numbers that will affect your income in your retirement years. Keep these things in mind:
- Hire a financial consultant, if you can afford it, to look over your current finances and to provide guidance on retirement planning.
- Determine the retirement fund that you want to have and you will need in the years after retiring from active employment.
- Decide how you want to enhance the returns on your investment portfolio, the savings measures you can take, and the additional income you can make, among others.
- Look at your IRA to determine its sufficiency for your future needs
You may play catch up but with determination, you can have a nest egg that will guarantee your comfortable life during your retirement.