Retirement Savings Low After 40? 5 Steps to Boost Your Financial Future

• Focus on increasing savings rather than chasing high returns, even with 12-15 years left until retirement.
• Avoid excessive risk; retirement planning is not a T20 match. Maintain stability with low-risk investments, but keep 10-15% in stable equities.
• Curb unnecessary expenses by identifying wasteful spending and prioritizing future financial freedom over immediate gratification.
• Consider extending your retirement date by 3-5 years to allow more time for savings and reduce the period of drawing from your corpus.
• Explore a reverse mortgage as a last resort if savings fall short, especially if you are 'house rich, cash poor'.