I'm 50 and had not yet begun to save for retirement.  Is it too late for me, and if not, how do I begin?

Rest assured that it is never too late to begin.  However, if you are not in the habit of saving, it may be difficult.  Here are some suggestions to help you.  Begin by saving a small amount, such as 3 to 5 percent of your income.  As you adjust to your new budget, work on increasing the percentage.  Whenever your income increases, set aside the increase before you get used to the extra income.  If your employer offers a retirement savings plan, take advantage of it.  Not only are contributions tax-deferred, sometimes employers will even match some of the dollars you save.  Make contributions through payroll deductions if it is offered.  This will make saving easier for you.

Whatever you decide to do, don't let the small amount you may begin with discourage you.  Every dollar saved is one dollar less you will need to come up with once you retire.  And, as your nest egg starts to grow, you will then be in a better position to plan for your retirement.