![]()
- Gold Hits $1,121, Barrick Chief Says Selloff Possible
- Foreclosures Fall Again But Improvement Likely Fleeting
- Highest State Foreclosure Rates
- Jobless, Wal-Mart to Drive Sentiment on Thursday
- Yuan Critics Want Obama to Keep Campaign Promise
- Dollar Trouble, Oil's Bubble Could Derail Recovery
- Hewlett-Packard to Acquire 3Com for $2.7 Billion in Cash
- AIG CEO: I Remain 'Totally Committed' to Firm
- CNN Anchor Lou Dobbs Says He is Leaving Network
- What to Expect From Disney Earnings?
- HP's Shot Across Cisco's Bow
- USC Football Blog Leads All-Access Space
- Clowning Around At Work
- Ahead of Earnings Disney Restructures Studio
- Nov. 11: Unusual Volume Leaders
- 3 'Clear Sailing' Mid-Caps For Investors: Strategist
- Intimate Apparel Sales Heating Up: Maidenform CEO
- A Day On The USS Harry S. Truman
MOST SHARED
- Hewlett-Packard to Acquire 3Com for $2.7 Billion in Cash
- How the Droid and Google Threaten the GPS Makers
- Dollar Trouble, Oil's Bubble Could Derail Recovery
- USC Football Blog Leads All-Access Space
- Addicted to Easy Money?
- Shopping for Answers
- Credit Is Thawing, But Businesses Still Hesitant to Borrow
- Rising Jobless Biggest Threat to World Trade: WTO
- CNN Anchor Lou Dobbs Says He is Leaving Network
![]() |
iStock |
Not only do economic changes affect us from year to year, but personal situations can greatly influence how we save for our retirement years. Regardless of these unpredictable factors, there are certain ways to maximize our results, if we just play it smart.
Take a look at these basic tips that may help to make your retirement years more enjoyable, less stressful, and with less financial burden.
Start saving
Sure, it's obvious. Nevertheless, too few workers are setting aside money for their golden years. "It's never too late to start retirement savings, and never too late to beef it up," says Dee Lee, a Certified Financial Planner and author of "Women & Money."
If you're fortunate enough to receive a raise or bonus in your job, perhaps you can set aside all or part of your extra earnings, or a regular portion of your paycheck, for retirement. But even if you don't have extra cash to stow away, small changes in your daily life can reap big rewards.
Cut back on the number of times you order take-out dinners or go out to eat each month. Be creative in ways to reduce your spending on a daily basis, thereby adding extra savings in the long run.
_____________________________________
More Retirement Advice from Bankrate.com:
- How to Plan for Retirement
- Asset Allocation Explainer
- How to Tell if Your Retirement Plans are on Track
_____________________________________
Maximize (or boost) 401(k) contributions
In recent years, employers have been backing away from providing pensions, lifetime health insurance and other benefits that had been valuable safety nets to employees long after they leave work.
Companies are putting the onus on workers by adopting 401(k) plans and other plans that are funded by employees' salaries, rather than company largesse. The number of employers offering old-style pension plans has been dropping steadily, according to Hewitt Associates.
If you have a 401(k) plan at work and aren't putting as much as you can in it, increase your contributions. In 2008, individuals can stash up to $15,500 of pretax earnings in a 401(k). For those 50 or older by year's end, the limit is $20,500. The overall contribution cap to a 401(k) (including employer matching funds) is $46,000.
Make IRA Contributions, Do Financial Housekeeping...Read More
- Bernard and Ruth Madoff's personal possessions will be auctioned this weekend. Click ahead to see.
- US real estate prices have fallen dramatically, but some places are still doing well. See the best-performing zip codes this year.
- An Italian cashmere maker aims to make profits while creating ideal conditions for his workers.
- Just in time for the holidays, the Triumph company of Japan offers the latest innovation in women’s undergarments.
- The real result of health care reform will be bloated government and higher deficits, says Larry Kudlow.
- Vote and suggest your own, and remember--there's a fine line between a hero and a zero.












