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Little or Nothing Saved For Retirement? You Are Not Alone

Scott Van Voorhis

If you are in your 50s or older and have little if anything saved for retirement, well you are not alone. Financial planners say they are increasingly dealing with clients who are middle-aged and older with only paltry savings -- if that -- squeezed between helping college-age children get a start in life and caring for elderly parents. In fact, people in their 50s and 60s who have little salted away in the bank for their golden years should not despair, for they still have the ability to make decisions that could boost their financial security in retirement, planners say.