While it is certainly ideal to start saving for retirement early on, you can still save a substantial amount even if you start later in life.
Many Americans do not have any retirement savings — a full one-third, according to Bankrate.com — but that doesn’t mean that they (or you) can’t catch up. Here are some suggestions on what to do, from USA Today:
- Pay down your debt
- Take advantage of an IRA and 401(k)
- Reduce and avoid extra investing fees
- Wait to retire and work longer
- Don’t make unnecessary risks and shortcuts
Read all about USAToday.com’s five points in detail: “5 simple ways to catch up on your retirement savings“.
By 2030 one out of every five people in the U.S. will be 65-plus. With baby boomers retiring and becoming older, will older homeowners have to purchase specifically designed accessible homes? Thankfully not!
Increasing numbers of professional remodelers are changing up existing homes of older residents to accommodate accessibility needs. Universal features like walk-in showers and exterior ramps can be incorporated into many houses.
It often makes sense to remodel older residents’ current homes so that they are able to age comfortably without needing to move. Main floor master bedroom additions are wise changes; they can be used as a master suite from the get-go, or as guest quarters until needed by the homeowners. Ramps can be blended into the architecture and landscaping, and then they can accommodate a wheelchair or walker in the future. Wide doorways, no steps into the home, easy-to-open windows, lower counters, and so many other remodeling changes will make your home appealing and livable for a wide age- and accessibility-range of buyers and homeowners.
AARP has a free booklet entitled “The Do-Able Renewable Home” at www.universaldesign.com.