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Do you have a retirement savings? Surveys show that retirees cannot simply rely on their benefits for financial support. Thus, as early as possible, preparing for your own retirement savings will ensure your financial state when the day of your retirement arrives. But what if you’re already in your 50s or 60s without retirement savings? Is it too late? It’s not too late, if you start your retirement plans now.

Here are some tips on how you can save up for your retirement even at the last minute:

First of all, think about your target retirement age and calculate how many years you have left before your retirement. Decide on how much you would like to save for your retirement. Be realistic on setting the amount you want.

In order to save up for your target amount, you will need to make some adjustments on your current finances. Take a look at your present expenses and see where you can make some tweaking. For example, do you really need a complete cable package or can you settle for a lower package and save the money for your retirement instead? Can you save up on your electricity bills? Can you try not to make long distance calls to lessen your phone charges? As much as possible, budget all your expenses.

Take the time to check on your bills and see to it that there are no overcharges. It is a common case where customers get an over charge on their bills for services that they never really used or received. For example, take a look at the long distance charges on your telephone bill. Are there any phone calls which you know you did not make? When shopping for groceries, check all the items on your grocery bill. When eating out, check exactly how much you spent for your dining. Always take the extra time to make sure that you will only be paying for the bills you really owe.

Inquire from the Social Security Administration how much benefits will your be entitled to receive. Check out their website at https://www.ssa.gov/pubs/10069.html or call their toll free number at 1-800-772-1213.

You can still sign up for a 401k fund and save the most you can with what’s left on your employment years. If you can save at least 15% from your salary, that will be better than none at all. You may also decide to stay on your job a little longer before retiring.

Monitor the use of your credit card. If you’re in the habit of making late payments on your credit card bills, you are certainly paying for more than what you should be paying for. Avoid paying for surcharges or very high interest rates on your credit card by paying your bills on time. If you have more than one credit card, make sure that you settle your balances right away especially for credit cards with higher interest rates. If you’re really swamped with too many credit card balances, it may be a good idea to obtain a low interest loan to pay off your credit card debts and avoid the accumulating interest. More importantly, use your credit card as sparingly as possible.