Five Reasons It’s Not Too Late to Start Your Nest Egg

5-reasons-its-not-too-late-to-start-your-nest-egg

Time flies when we’re having fun, as the saying goes. Too many of us come face to face with the reality of this old saying when we wake up one day and discover it’s our 50th birthday. That’s generally around the time we start to think more about what we want to do in our golden years. Then we start to wonder how we’re going to manage all of that on a retirement income we haven’t planned for. When reality sets in, we generally find ourselves asking the obvious question: is it too late to start saving for retirement?

The answer is, “No.”

If you’re on the tail end side of 40 and don’t have a retirement nest egg to speak of, don’t panic. You can still catch up on retirement investing, but you’re going to need to implement some measures that will get you on track toward the retirement lifestyle you want. Here’s what to do.

Pay yourself first

Get in the habit of saving. Each payday, put some money into your savings account. Even if it is only a small amount, that’s OK. The purpose is to develop a habit of saving.

Put more into your employer-sponsored retirement plan

If your employer offers a retirement plan, you should be taking part in it. If you’re not a participant, you need to be, starting now. If you’re already in a 401(k) or 403(b) plan and contributing 5 percent of your income, increase your contribution to 10 percent or more. Money you put in will grow, especially if your employer has a matching program. Use a reliable 401(k) calculator to help you decide what contribution level works best for you.

Use an automatic savings plan

Check with your Human Resources department to find out if your employer has a payroll savings plan. This will let you deduct money from each paycheck to be deposited into a savings account at a credit union or bank. If you’re already making contributions, consider increasing the amount.

Save at least 20 percent of your income

Experts recommend that people between the ages of 40 and 60 save at least 20 percent of their income. If you can’t do that much right now, work on a plan for reaching that goal. You can put money into a retirement account, into your personal savings account or invest it.

Create an emergency fund

With an emergency fund, you should have enough money saved up to pay for an emergency situation, such as an unexpected car-repair bill or a home repair that can’t wait. Most professionals suggest an emergency fund of between three to six months of basic living expenses. Not having an emergency fund means you may have to cut into your retirement savings if untoward something happens.
It’s never too late to start your savings for your retirement. Take the steps you need now to get on your way to a secure future.

About the Author:

Gabby is a freelance writer and editor with over 10 years of experience writing about personal finance, beauty and fashion as well as other lifestyle topics. When she’s not writing, Gabby likes traveling and exploring the world. And she loves cats.

Shutterfly: (10) FREE Greeting Cards

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Through Sunday (10/2), ALL Shutterfly customers can get 10 FREE Greeting Cards from Shutterfly when you use coupon code 10FREE.. It looks like shipping will be about $5.99 for 10 cards (or less if you choose less than 5 cards).

The coupon code includes 10 free square trim, signature cardstock cards (6×8, 5×7 folded, 5×7 trifold, 3×4 folded or ornament cards).

You can also save 40% off everything at Shutterfly when you use coupon code MERRY40.

Cheap Kindle Book: The Forgotten Recipe (An Amish Heirloom Novel) for $1.99 (88% off)

The-Forgotten-Recipe

For a limited time, you can buy The Forgotten Recipe (An Amish Heirloom Novel) Kindle book written by Amy Clipston for only $1.99 (88% off) from Amazon.

About the book:

After losing her fiancé in a tragic accident, Veronica Fisher finds solace in the old recipes stored in her mother’s hope chest—and in a special visitor who comes to her bake stand to purchase her old-fashioned raspberry pies.

Veronica Fisher knows how lucky she is to be marrying her best friend. Seth Lapp is kind, hardworking, and handsome—but most importantly, he loves Veronica.

When an accident on the job steals Seth away from her, a heartbroken Veronica is certain she will never love—or be loved—again. Yet when she discovers a batch of forgotten recipes and opens a bake stand to sell her Mammi’s raspberry pies, Veronica picks up a regular customer who gives her heart pause.

Jason Huyard was with Seth when he lost his life—a memory that haunts him still. So when he seeks out the grieving fiancée to convey his condolences, the last thing he expects—or wants—is to fall in love. Nonetheless, Jason soon finds himself visiting Veronica’s bake stand every week . . . and it’s for more than the raspberry pies.

Now, as Veronica’s heart thaws, Jason can’t bring himself to tell her he was there when Seth died. Can he ever reveal where he was on the day her life derailed? Or will his secret rob them of the second chance at love they both want?

Please note: Kindle prices tend to change quickly, so be sure to check that the total still says $0.99 before you “purchase” it.

You don’t need to have an actual Kindle to read the FREE Kindle books (although the price has dropped to only $69 for the cheapest Kindle Reader).  You can read Kindle books on your computer, iPhone, computer, and more.

Between the FREE books from Amazon and Kindle books I’ve checked out from the library, I’ve been having so much fun reading on my iPad.  I really thought I wouldn’t like not having a physical book, but I love it.

If you’re interested in Kindle freebies, you can check out the current FREE Kindle books.

FREE Kindle Book: Seeking Patience

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Right now, you can download Seeking Patience Kindle book written by Josie Riviera for FREE from Amazon.

About the book:

Do people prove their worth by strength, or by character?

Half-Romany, half-English lord, he lives a perilous Gypsy life … until a sweet English rose saves his life, and perhaps his soul. Widowed by a cruel husband, she’s given up all hope of love. Brought together in peril, they dare to reach for a brighter future together.

Luca Boldor, Romany leader, lives a nomad’s life in Regency England with his Gypsy caravan. Believing his noble father abandoned him at birth, he refuses to acknowledge his English blood, or live a settled life. But when a vicious attack by a rival leaves him bleeding on an English lady’s doorstep, he has no choice but to accept her help. Her gentle faith stirs his heart in a way he has long denied.

Lady Patience Blakwell, widowed countess, lives in near poverty. Her husband’s heir uses threats to keep her from demanding her rightful inheritance. With a few faithful servants, she exists quietly in the country, only her faith keeping her strong … until the day a bold, handsome Gypsy collapses in her hall. He’s unlike any man she’s ever known, and she’ll confront any subterfuge to keep him safe.

But when a secret from Lady Patience’s past emerges, Luca must face his own past, or lose her and all hope of love. Will this strong man humble himself to open his heart for his lady?

Please note: Kindle prices tend to change quickly, so be sure to check that the total still says $0.00 before you “purchase” it.  If you do accidentally purchase a Kindle book after the price has increased, you do have a short amount of time to request a refund from Amazon.

You don’t need to have an actual Kindle to read the FREE Kindle books (although the price has dropped to only $69 for the cheapest Kindle Reader).  You can read Kindle books on your computer, iPhone, iPad, and more.

Between the FREE books from Amazon and Kindle books I’ve checked out from the library, I’ve been having so much fun reading on my iPad.  I really thought I wouldn’t like not having a physical book, but I love it.

If you’re interested in additional Kindle freebies, you can check out the current FREE Kindle books.

Printable Coupon: $4/2 Craisins + Target Deal

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There is a new printable coupon available for $4/2 Craisins Dried Cranberries Products (24 oz.) that you can stack with a Cartwheel coupon at Target to get a good deal after coupons. Deals available this week using the coupon include: Target: Buy (2) Ocean Spray Craisins Dried Cranberries … [Continue reading...]

Melissa & Doug Wooden Brew & Serve Coffee Set: $15.99 (20% off)

melissa-and-doug-wooden-brew-and-serve-coffee-set

For a limited time, you can buy the Melissa & Doug Wooden Brew & Serve Coffee Set for only $15.99 (20% off). Get FREE Super Saver shipping on orders of $49 or more (or with Amazon Prime). This is the lowest price this set has been listed on Amazon. About the Melissa & Doug Wooden Brew … [Continue reading...]

Honey Crisp Apple Mocktail Recipe

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I love the fall when apples are fresh and plentiful.  You can make this yummy Honey Crisp Apple Mocktail using some of my favorite fall ingredients - apple cider and apples!  If you prefer, you can substitute the ginger beer (which is non alcoholic) for sparkling water and 1 tsp grated … [Continue reading...]



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