If you’re in your 50s and have been slow to save for retirement, it’s time to shift into high gear. You need to find out now what it’s going to take to cross the retirement finish line with enough money to cover your living expenses. Here are some important things to think about. At what age do you plan to retire? Working with target dates and online retirement calculators can help you decide if your goal is realistic. What are your plans? You will still have expenses for food, bills, housing, and medical costs. But what about travel and other hobbies? You’ll want to save for these types of additional expenses as well. Can you reduce your expenses now? Paying off bills and cutting your spending can allow you to put that money into savings. Here are some thing you can do. Contribute as much as you can to your work retirement plan. Visit irs.gov to find information about current contribution limits. Look into IRAs as another way to save. Check with your financial institution or a financial advisor about options such as Roth or Traditional IRAs. Look at your other income sources. Estimate your annual Social Security income at www.ssa.gov/estimator/. You’ll notice that waiting a few years to start taking Social Security can make a significant difference in how much you will get. If you come up with an annual retirement income that you think will work for you, try living on that amount of money for a few months. Can you do it? This reality check can either make you feel good about your plan, or show you what you’ll need to do to get there. This is the time of your life to get serious about saving.