Help for 6 Common Money Issues
Burden #4: You’re Not on Track for Retirement
How to Shed It: Worried that you haven’t squirreled away enough for those golden years? Luckily, there is always something that you can do
to get back on track, like making sure that you’re getting the full company match for your 401(k), as well as getting creative about bonus sources of income.
“Look at the things you’re doing in your life now, and figure out how to get paid for them,” says Anderson. “For instance, I have a client, a business consultant, who loves yoga. She makes $100 working at her yoga studio four hours a week, and gets free classes for the month worth $300.” That client, Anderson says, then takes the extra cash and invests it for retirement.
Another strategy, suggests Anderson, is to reduce overhead costs, like living expenses. If you can downsize your home—or rent out a room—you can start saving more aggressively for retirement.