If you have no retirement savings or plan by age 60 you really have to think what are you going to live on for probably the next 30 or more years. SS will barely cover basic expenses, if it is even available for 25 years or more. Downsize and live bare bones until you can live comfortably on SS or other retirement income while still working. This way you know you can make it when you retire. The cost of living will continue to rise but retirement income will not. So you have to factor that into your plan too.