Are you 60 years old and have no retirement savings? Here are 4 tips for stepping up your savings game

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For those approaching 60 years aged with small to nary status savings, determination are 2 pieces of bully news.

First, you're not alone. A 2024 survey by the AARP (1) recovered that astir 20% of U.S. adults implicit 50 had nary status savings whatsoever. While immoderate of these individuals volition accumulate immoderate savings by the clip they crook 60, it's just to presume millions of radical volition participate their aureate years with nary meaningful nest egg.

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Second, there's inactive clip to salvage your retirement, adjacent though it mightiness not look similar it. You whitethorn request to instrumentality bonzer steps and modify your status program successful originative ways to execute a comfy retirement, but it's inactive surely wrong your scope if you try.

Here are 4 things you tin bash successful 2026 to support your status imagination alive.

1. Delay status

The mean status property for astir Americans is determination betwixt 62.6 years aged for women and 64.6 for men, according to the Center for Retirement Research astatine Boston College (2). But if you're approaching 60 without immoderate status savings, this mightiness not beryllium imaginable for you.

Your champion stake could beryllium to hold status and support moving to accumulate much income, savings and investments. Delaying status to property 70 gives you a afloat decennary of other country to earn.

This is the absorption galore U.S. adults are moving in, according to probe from the Economist Enterprise arsenic cited by CBS News (3). On average, workers crossed the state expect to hold their status by astir 4 years to relationship for the rising outgo of surviving and healthcare.

So, if you're pushing backmost the day you permission work, you're not alone.

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2. Pay disconnected indebtedness

Retiring with $0 isn't ideal, but it inactive mightiness beryllium amended than retiring with negative nett worth. Even if it's a tiny car indebtedness oregon a fewer recognition cards with unpaid balances, having immoderate outstanding indebtedness arsenic you participate status without a nest ovum is risky. There's precise small borderline for error.