Catch-Up Contributions⁚ Boosting Retirement Late
Introduction
Retirement is something that most people look forward to․ It’s a time to relax‚ enjoy life‚ and reflect on a lifetime of hard work․ However‚ many individuals find themselves behind in saving for retirement due to various reasons such as job changes‚ unexpected expenses‚ or simply not prioritizing retirement savings․
Fortunately‚ there’s a solution for those who are late to the retirement savings game – catch-up contributions․ These additional contributions offer individuals the opportunity to boost their retirement savings if they’re 50 years of age or older․ In this article‚ we’ll explore what catch-up contributions are‚ how they work‚ and why they’re essential in ensuring a comfortable retirement․
