5 Strategies to Boost Your Retirement Savings

Here are five savings ideas you should consider toboost your retirement savings:

1. Work part-time.  If you think youmay be bored a year or two into retirement, consider planning for a retirementcareer.
2. Build larger cash reserves.  Target24 months of living costs and overestimate, if possible.
3. Budget during the home stretch. Bank every cent you can right before retirement for a happier long-termoutcome.
4. Get rid of debt now.  Consider puttingyour home on the market earlier than you planned, paying off car loans, andextinguishing credit card debt.
5. Save now.  Take advantage of themagic of compounding.

See Mitch Tuchman, Howto Give Retirement Savings a Major Boost, Forbes, Aug. 27, 2013.