Three retirement steps you can take at 50 to financially protect your golden years
Turning 50 is a huge milestone and it's an ideal time for Americans to assess what they need to do between now and retirement to financially protect their golden years, says Jamie Kalamarides, head of Institutional Investment Solutions for Prudential Retirement. "Preparing for retirement is like quitting smoking," Kalamarides says. "You can’t make up for the past, but every day you start is going to move you toward a more financially secure future."In a recent video, Kalamarides suggests three steps Americans can take at 50 to increase their retirement savings. One is to use a retirement income calculation tool to project what monthly expenses will be compared to the amount already saved, as well as what projected future savings could be. The tool can help you assess how much more you need to save. The others focus on diversifying your portfolio and paying down debt.
Interested in learning more? Watch this video of Jamie outlining his tips. Want to speak with Jamie? Contact Josh Stoffregen.