Retirement savings for 40-, 50- and 60-year-olds

Re-evaluate your asset allocation
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A calculator and pie chart

It's important to re-evaluate your asset allocation every year. The level of risk you were comfortable with in your 40s may not work for you as you move into your 60s, says Shorten.

If you haven't been able to save as much as you'd like, you might need to invest a bit more aggressively than you would otherwise. "Do you need to take more risk?" says Corn. "You can give yourself the chance to have more growth by upping the percentage of stocks in your portfolio. It could blow up on you if the markets go down for a while, but it could give you extra growth if things go your way. Most people don't want to do this, and it's something we use as a last resort suggestion."




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