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<\/p>\n Your 40s can feel like a financial juggling act. Your income is growing, but so are your expenses. You\u2019re also at the age where you\u2019re likely dealing with teenagers in the house, the prospects of buying them cars, and perhaps even thoughts of paying for college.\u00a0<\/span><\/p>\n \u00a0<\/p>\n In the middle of all of it, this is also a time to get serious about retirement. And while there\u2019s still time to make meaningful progress on that latter task, the clock is ticking louder than it was in your 30s.<\/span><\/p>\n \u00a0<\/p>\n Thankfully, with the right strategies and a little intentionality, your 40s can be a launchpad instead of a panic button.<\/span><\/p>\n \u00a0<\/p>\n Here\u2019s how to think about retirement in your 40s without feeling overwhelmed or falling behind.<\/span><\/p>\n \u00a0<\/p>\n In your 20s and 30s, saving anything was a win. But in your 40s, you\u2019ve got to shift gears from \u201csome savings\u201d to \u201cserious savings.\u201d<\/span><\/p>\n \u00a0<\/p>\n If you\u2019re not already putting at least 15 to 20 percent of your income toward retirement, it\u2019s time to inch closer to that number. Start by maxing out your 401(k), especially if you\u2019re getting employer matching (more on that in a minute). Then look at adding contributions to a Roth IRA or traditional IRA if you\u2019re eligible.<\/span><\/p>\n \u00a0<\/p>\n You might feel like there\u2019s no extra room in your budget. But often, small tweaks \u2013 pausing an upgrade, trimming recurring subscriptions, resisting lifestyle inflation \u2013 can free up hundreds of dollars each month. Every extra dollar saved now grows more powerful in your 50s and 60s.<\/span><\/p>\n \u00a0<\/p>\n You\u2019ve worked hard to get where you are. It\u2019s natural to want to enjoy nicer things, take more extravagant vacations, or upgrade your home. But the danger in your 40s is that your lifestyle rises just as fast as (or faster than) your income.<\/span><\/p>\n \u00a0<\/p>\n\n
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