How to get Retirement Ready When You are in a Time Crunch

All our lives, we’re told to plan for retirement…even though retirement seems like something way, way in the future. Some of us heed this advice and do start planning for retirement early on. Others, however, don’t plan quite as well and then find that, amazingly, they’ve reached retirement age or close to it and aren’t even close to being fully prepared.   

If that second scenario describes you, then don’t worry. Even if you only have a few years left until retirement, there are things you can do to quickly get ready for it. They may not be as effective as a lifetime of planning, which is always the best strategy, but they’re certainly better than nothing!  

Start Living Super Cheaply

Living cheaply may not sound like fun, but if you’re in a serious time crunch, it’s the only way! Sit down and take a look at your finances and where your money goes, and then, cut corners in every possible way.

Stop going out to dinner. Say good-bye to cable television and shipping sprees. Whatever it takes, cut back as much as you possibly can in every way possible and stash that extra money in savings. It may not be a lot of fun, but it will pay off come retirement time.

Make More Money

We know, we know- this one is easier said than done, right? Well, believe it or not, it’s not that hard to start lining your pockets with extra cash- cash that you can stash in your retirement fund. It just takes a little creativity.

Maybe you’re a gifted artist who can start selling her paintings for some extra money. Or, maybe you could walk the neighbor’s dogs or baby-sit in the evenings. There are tons of opportunities out there for making a little extra cash quickly, and the more of them you seek out and take advantage of, the better you’ll fare in retirement.

If you can follow these tips and get a little emergency help from a financial professional, you can end up doing quite well in the “retirement game,” even though you got started a little late.