​If you’re approaching retirement and feel like you don’t have enough in savings, you have company. A recent study from the Transamerica Center for Retirement Studies found that baby boomers have a median retirement savings balance of only $147,000.1 That figure is likely to be well short of what most retirees need to fund their desired standard of living.
 
Retirement has become an increasingly difficult financial challenge. Most workers no longer have the benefit of a pension. Retirees also have to contend with a longer life span, which means they may need to fund more years in retirement. Health care is also a substantial area of expense.
 
The good news is that it’s never too late to correct course and get your retirement back on track. With some careful planning, you can take back control of your retirement. Below are three steps you may want to consider. A financial professional can help you analyze your needs and implement the best course of action.

​According to a recent Gallup study, retirement is America’s top financial worry. The study found that more than 50 percent of Americans are concerned that they won’t be able to fund their retirement.1
 
It’s easy to fall behind on your retirement planning. If you’re like many Americans, you have other financial challenges that may seem more pressing. Perhaps you’re struggling with debt. Maybe you’re paying for your child’s education. When you add up your normal expenses, it may be difficult to find additional funds to put toward retirement.