Hello There! If you are new here, you might want to subscribe to our daily blog alerts on everything LivingSenior.

Saving for retirement sometimes requires a lifetime of working before you get to the amount you want. But life happens along the way, and you might end up taking a little here and a little there. If you have managed to take more than saved, you might be thinking about ways to rebuild your retirement savings. If you have yet to retire, now is the perfect time to start rebuilding your retirement. Don’t assume it’s too late; because it never is. Even a few years of saving and rebuilding your retirement can make your retirement years much better.

Put More in Your 401K

Start by volunteering a larger percentage of every paycheck for your 401K. Even if you have pulled everything you had, it doesn’t mean you stop contributing. Find ways to give another few percent at least, because even with 5-10 years left before retirement, it is a good amount of money by the time you do retire. This is especially important if your employer offers to match what you contribute, because that means you’re getting double of whatever you put in. If you put in 5 percent of your paycheck and your employer puts in 5 percent, that is thousands more every year of work.

Consider Investments

While you may not want high-risk stocks and bonds to rebuild your retirement savings, a low-risk investment like a fixed annuity, is a great option. This is a good option for anyone who has been burned by high-risk investments or who is brand new to investing in the market. According to a recent study conducted by the Beacon Research Fixed Annuity Premium Study, there is a 60 percent increase in fixed annuities. You probably want to choose to invest a small lump sum for a fixed interest rate that is locked in for 5-10 years; this is the best option for rebuilding your retirement savings.

Work Past Retirement

This may not be what you want to hear, but a few more years of work can be helpful. Consider working an additional 2-5 years after when you were expecting to retire. Even one more year of work isn’t too difficult and you’re earning thousands more of potential savings for your retirement. If you have gotten into a financial situation, working a few more years can help turn it all around and start rebuilding your retirement nest egg. If you have a highly stressful job, ask your company for another position for your last years before retirement, or maybe even just go down to part-time.

Sell Your Home or Property

If you plan to live alone or with your spouse after retirement, you don’t need your 4-bedroom family home you have had for 30 years. Consider selling it and moving into something a little smaller. There are very nice 2-3 bedroom condos and apartments in nice neighborhoods that are probably half or less than the value of your home. That means if you sell your home for $500,000 and get a condo for $250,000, you have an additional $250,000 for retirement, after paying property taxes and other sellers fees.