Nest Egg

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Many people over 50 need to start building—or rebuilding—their nest egg. This may seem impossible, especially in today's financial climate. But financial experts say that you can build a nest egg at any age, using the following strategies:

Establish a budget you can live with, then live within it.

Pay off your credit cards, then charge only what you can repay within the month.

Save 10 percent of your income by paying yourself every month when you pay your other bills.

Buy adequate life and disability insurance after carefully reviewing the fine print.

Buy an Individual Retirement Account (IRA), and deposit the maximum amount allowed every year. Note that you can't contribute to it after age 70.

Invest in a few high-performing blue-chip stocks and ignore their daily fluctuations. Focus instead on their long-term performance.

Take full advantage of retirement plan opportunities.

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