Once people reach their 50s they finally see retirement on the horizon. They start envisioning that time when they can stop going to work and instead spend their days on the golf course, on the beach or with their families. Yet many people have not saved nearly enough for retirement by the time they are 50 years old. A recent survey by the Employee Benefit Research Institute found that 60% of workers born between 1946 and 1964 have less than $100,000 for retirement. In fact, 40% have saved less than $25,000.
24/7 Wall St. interviewed retirement-related experts from brokerage firms, banks, retirement advocacy groups, and independent financial advisers. With their help, 24/7 identified the eight actions you should take if you have not prepared to retire.
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