Top 5 Retirement Savings Tips for 55-to-64-Year-Olds

4. Diversify your investments

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Another way to boost savings after 55 is to diversify your investments. While the initial years of your career may have been the right time to take bigger risks and go for high-reward investment options, any financial advisor would advise you to do otherwise at this age. One way to diversify your investments is to increase the composition of bonds in your portfolio. By spreading your investments across different asset classes, you can mitigate risk and enhance the potential for long-term growth.