When Is It Too Late to Start Saving for Retirement?
By Rachel Hartman
Reviewed by Emily Brandon
Dec. 23, 2022, at 9:22 a.m.
As retirement nears, it’s common to evaluate your nest egg and decide next steps. When only a few working years remain, you may be wondering if it’s worth saving. If you haven’t yet started, the process of setting aside funds might not seem effective. Any investments you make won’t have many years to earn interest. You might need to access your savings soon after retirement.
As you question if it’s too late to start saving, think about:
How close you are to retirement.
When you want to take Social Security.
What you will need to be comfortable.
How saving in your 50s and 60s could work.
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