Here's everything you need to know.
Keeping a healthy amount of money in the retirement fund is very important for being on track to retirement. If one does not have enough money to retire they will have to push back their retirement to a later date to compensate for the small retirement fund.
By the age of 60 a person should have seven times the amount of their annual earnings to help save for retirement. If one does not meet this, they will have to cut further costs and possibly push back their retirement to a later date. It is also recommended that all debt is paid off to have a better credit score when pushing towards retirement.
Many experts have recommended that those who are close to their retirement goals cut costs to ensure that they will make it to their retirement age.