MSN Money gives some great advice for those that can see retirement slowly creeping up. The point of the article is to emphasize that no matter what your age and financial situation, your savings can still make an impact. Specifically, MSN gears the article for the following situation, “You’re over 40 and you haven’t started seriously saving for retirement. You have more debt than you’d like to admit, or less investments. And, believe it or not, it’s now too late to pretend that you’re waiting until you grow up to start.” My favorite recommendation from the list is below:

Save more. Since you won’t be able to rely on the magic of compounding interest, you’ve got to sock away more money each month. The key to saving more money for tomorrow is knowing where your money is going today. Take the time to track your spending for at least a few weeks, and then make some cuts.

Money Management: It’s never too late – [MSN Money]

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