Determined to Win

Most people fund a cozy retirement by saving early and consistently and by making periodic adjustments to their asset allocation. However, those just entering the workforce either don't take that head start or don't have the extra cash to save. Such poor planning has resulted in many approaching retirement age and discovering That they're likely to outlive their savings. That prospect weighs on 47-year-old Angela Moore. In addition to suffering a layoff that left her unemployed for five years. Moore didn't start saving for retirement until she returned to the workforce full time in May of 2007. She has $32,324 in her 401(k) and a goal of retiring at age 62 with $1 million in savings. Moore is hopeful that the resale value of her home will help supplement her retirement dreams. In April 2013 she closed on a two-bedroom condo in East Harlem for $260,000. She scored a 3.25% fixed interest FHA loan with a 5.1% down payment.