A Late Bloomer's Guide to Saving

There's plenty of time to catch up with these surefire strategies.

Editor's note: This article is adapted from Kiplinger's Retirement Planning 2007 guide. Order your copy today.

Baby-boomers closing in on retirement with nest eggs that are a few zeroes shy of their goal know what John Lennon meant when he wrote, "Life is what happens while you're busy making other plans." As the vanguard of the 78-million-strong generation turns 61 this year -- one year away from the age when many Americans retire -- some will have to alter their financial strategies in the wake of job layoffs, investment losses, the kids' college bills and unforeseen family expenses that cut into their savings.

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Mary Beth Franklin
Former Senior Editor, Kiplinger's Personal Finance