Roughly half of all baby boomers approaching retirement will need to revamp their retirement plan to fund their retirement. With a little planning many of them can make specific and doable adjustments to improve their retirement security, according to Alicia H. Munnell, Director of the Center for Retirement Research at Boston College. She writes that they can make changes to their plan to help make their retirement money last.
1. Work Longer
2. Pay Attention to Your 401k
3. Spend Wisely
4. Leverage Your House (Research Reverse Mortgages & make sure your house fits your retirement)
5. Speak Up (with your vote)
Alicia H. Munnell is the director of the Center for Retirement Research at Boston College and coauthor, with Charles D. Ellis and Andrew Eschtruth, of the new book “Falling Short: The Coming Retirement Crisis and What to Do About It.”