As millions of baby boomers hit age 65 and consider retirement, a new report finds many folks can't afford to retire. Forty-eight percent of Americans have little money saved, no IRA or 401k, even pensions are rather scarce.
In Metairie, certified financial planner Brad Fortier says people who still have some time left before quitting, should start saving as much as they can.
He says that should start with a tight budget and watching cash flow carefully.
''They need to get creative, on how are they going to live in retirement, are they going to co-habitate with friends or family members to keep expenses down?'' said Fortier.
With only Social Security to fall back on, he says something like a real state investment could help with a regular rental income every month.
''You could argue that would be the equivalent of having a few hundred thousand dollars in a 401k," Fortier said.
It all takes planning. He says the best time to start is now.