The golden years for many are looking tarnished with debt and inadequate preparation these days. A recent article in NASDAQ offers tips to help save for retirement during a time when statistics are showing few have enough saved to take care of their needs. The earliest individuals are eligible for Medicare is 65, and the earliest someone can claim Social Security is 62, so more people are working longer to try to reach the level of comfort they will need for those golden years.

According to the story, “The average person age 65 and over spends nearly $46,000 per year, according to the U.S. Bureau of Labor Statistics, yet the average Social Security beneficiary receives around $17,500 per year in benefits. So unless you’re willing to make some serious lifestyle changes in retirement, you’ll need a significant amount in personal savings to close that gap.”

Read the full story and tips for credit union members here.