9 Steps to Get Your Retirement Back on Track

Forbes: 9 Steps to Get Your Retirement Back on Track

Retirement accounts have been ravaged in recent weeks, but that doesn’t mean it’s too late to get your retirement back on track--even if you’re in your 40s or 50s. Here are some concrete steps to ensure that you’ll have enough money left for your Golden Years.

(Juri Samsonov/iStockphoto)

More from Forbes:
The Forbes Guide to Estate Planning
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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9 Steps to Get Y... Retirement accounts have been ravaged in recent weeks, but that doesn’t mean it’s too late to get your retirement back on track--even if you’re in your 40s or 50s. Here are some concrete steps to ensure that you’ll have enough money left for your Golden Years.

(Juri Samsonov/iStockphoto)

More from Forbes:
The Forbes Guide to Estate Planning
The 25 Best Places to Retire
10 Ways a Bad Credit Score Can Hurt You

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Evaluate Your Ca... The first step to getting your retirement plan back on track is taking a look at your income—and where it’s going. Financial advisor Lance Roberts recommends putting away at least 30% of gross income every month.

(Getty Images)

More from Forbes:
The Forbes Guide to Estate Planning
The 25 Best Places to Retire
10 Ways a Bad Credit Score Can Hurt You

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Cut Out the Luxu... In order to achieve your retirement goals, you may need to cut down on spending. Many people are surprised to see what they spend, whether it’s splurging on clothes or meals at pricey restaurants.

(FLEMING'S PRIME STEAKHOUSE)

More from Forbes:
The Forbes Guide to Estate Planning
The 25 Best Places to Retire
10 Ways a Bad Credit Score Can Hurt You

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Use Online Tools... Sites like Mint.com and YouNeedABudget.com can help you track and change your personal finances.

(Photo via Forbes)

More from Forbes:
The Forbes Guide to Estate Planning
The 25 Best Places to Retire
10 Ways a Bad Credit Score Can Hurt You

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Take Advantage o... Many employers offer to match employee contributions to retirement plans. Make sure to take them up on this, at least up to the maximum percentage they’ll match—it’s free money.

(Jason York/iStockphoto)

More from Forbes:
The Forbes Guide to Estate Planning
The 25 Best Places to Retire
10 Ways a Bad Credit Score Can Hurt You

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Evaluate Your In... Low-fee, no-load plans from providers like T Rowe, Fidelity, Vanguard and the like are generally good options. But it you’ve got a mutual fund that has 1.5% management fee and it’s an S&P stock fund, you’re paying for the privilege of investing in an index fund.

(AP Photo)

More from Forbes:
The Forbes Guide to Estate Planning
The 25 Best Places to Retire
10 Ways a Bad Credit Score Can Hurt You

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Don't Try to Tim... People who are paid to do exactly that rarely get it right—keep socking money away on a regular basis. “If you keep a regular flow,” says financial advisor Mary Malgoire, “you’re going to pick up some things when prices are low.”

(AP Photo)

More from Forbes:
The Forbes Guide to Estate Planning
The 25 Best Places to Retire
10 Ways a Bad Credit Score Can Hurt You

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Establish an Eme... Set aside three to six months’ salary in cash in case of job loss or family sickness. “Having a cushion in cash is important,” says financial advisor Lance Roberts. “ You need to be able to not have to draw on your investments in a pinch.”

(DSGpro/istockphoto)

More from Forbes:
The Forbes Guide to Estate Planning
The 25 Best Places to Retire
10 Ways a Bad Credit Score Can Hurt You

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Don't Take Unnec... It’s important to adopt a strategy that will grow assets, but conserving the principal is even more crucial. It’s easier to make up for a lost opportunity than getting back a 30-40% loss.

(AP Photo)

More from Forbes:
The Forbes Guide to Estate Planning
The 25 Best Places to Retire
10 Ways a Bad Credit Score Can Hurt You

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Don't Panic Allowing motions to dictate your investment decisions can lead you to dig yourself a deeper hole.

(AFP/Getty Images)

More from Forbes:
The Forbes Guide to Estate Planning
The 25 Best Places to Retire
10 Ways a Bad Credit Score Can Hurt You

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
More from Forbes Want to know where you'd be happiest to retire? Click here.

(Joe Raedle/Getty Images)

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.