If you are over 50 and have delayed saving for retirement , you may still have time to fund your retirement by taking these actions now: Start saving. Max out your retirement contributions to IRAs and 401(k) accounts. If you are age 50 or older, you can contribute $6,500 per year to IRAs, and $60,000 per year to 401(k)s. Increase your income. Work more hours, negotiate a raise, or take a part-time job on the side. You could turn a hobby such as woodworking or quiltin