Low on savings funds? Here’s what you can do to boost your retirement income

7 tips for retirement savings after 40

Many people aim to retire with $1 million or more in savings. Now the reality is that you don’t necessarily need that much money to enjoy retirement to the fullest. 

But you do need a decent level of personal savings, especially since you can only count on Social Security to replace about 40% of your pre-retirement paycheck.

If you’re not happy with the state of your nest egg, you may be wondering whether your senior years are doomed. The good news? They aren’t. Here are a few ways you can compensate when your savings aren’t as robust as you’d like them to be.

More Retirement Headlines

How can climate change impact your retirement plans?

It’s not all about Social Security. Here are 3 unexpected sources of retirement income