 TITLE: How to Catch Up On Retirement Savings After Divorce CONTENT: While divorce can set you back financially, there are some strategies that can help you accelerate your retirement savings after divorce.\n*   **Increase your retirement contribution.** If you regularly contribute to an IRA or 401(k) that's now partly depleted, try setting aside a larger percentage of your income to help make up for what you lost. However, some divorcees may actually have less to contribute due to the higher cost of living without a partner. If you're unable to increase your contribution now, plan for how you'll do it once your financial situation improves.\n*   **Tighten your budget.** If you no longer have someone to split bills with, and especially if you're paying steep legal costs from the divorce, it may unfortunately be necessary to reassess your budget and cut expenses. Review recent bank and credit card statements and identify spending that could be cut, even if temporarily. With expenses reduced, it may be easier to avoid taking on debt or set aside some additional retirement savings.\n*   **Earn additional income.** Sometimes budget cuts aren't enough and it's necessary to find ways to make extra money. This could look like trying to obtain a raise at your current job, taking on a part-time job, or doing a flexible side hustle like walking dogs, babysitting or delivering groceries in your spare time.\n*   **Take advantage of catch-up contributions.** Because retirement accounts like IRAs and 401(k)s are tax-advantaged, the government limits how much you can contribute to them each year. For those aged 50 and above, however, the IRS permits a larger annual contribution to \"catch up\" and set more aside in these retirement accounts. If you're 50 or older and able to set aside more money, take advantage of the catch-up options to replenish your retirement accounts. END