Surprising Advantage to Saving for Retirement After 50

You’re dreaming of retirement, whether it’s spending time with grandkids, dedicating yourself to a yoga practice, traveling or just experiencing the joy of waking up naturally each morning. But…you don’t feel you’ve saved enough for retirement.
Is it too late to save for retirement when you’re in your 50s? Spoiler Alert: Absolutely not!
Sure, it would have been great if you had started 5, 10 or 20 years ago, but do something Future You will thank Current You for. Start saving today - even if it’s a modest amount.
And…there’s also a unique advantage to saving for retirement even in your 50s that most people don’t think about. It doesn’t just increase how much you’ll have in retirement. It actually decreases how much you need, which I explain in the video.
If you’re ready to jump off the hamster wheel and start living the life you’ve dreamed of, watch this video and subscribe to my channel for practical tips and tricks to retire earlier than you thought you could - and live the life you want.
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The legal stuff:
I am not a financial advisor. This video is for information and entertainment purposes only. I like to think of my videos as a great way to prepare you for a good conversation with your financial advisor. And always, please consult with a certified financial planner before making financial and investment decisions. They can give you specific advice for your unique situation.

[@kirkl8663]

Good video. Kind of preaching to the choir with me, but great advice. I stumbled on your channel recently and really like it. I’m 61 and will probably work maybe one more year. Keep up the good work. Thanks again.

[@PivottoEarlyRetirement]

Thanks - I'm glad you like it. One more year to retirement - exciting!

[@rizwan644]

Thank you for another great video. I'm in the USA and just turned 50. I didn't start saving until I was 32. Started out with 10% contribution to my 401k (not including the dollar for dollar 6% employer match) Then when I was about 42, I bumped up my contribution to 15%. Then when Covid hit, I saw it as a great opportunity since markets were way down, and started maxing out my 401k and opened up a Roth IRA. So basically since mid 2020 I have been maxing out my 401k and Roth IRA. Now that I'm 50 i'm also taking advantage of the catch-up contribution. Looking forward to contributing $38.500 in total this year (again not including the 6% employer match) Current balance (including all accounts) is $715k and absolutely no debt! House is paid off (current value $633k). I plan to retire at 59.5 🙂

[@PivottoEarlyRetirement]

Wow - it sounds like you really shifted gears to put yourself in a position where you'll have lots of options. Bravo!

[@rizwan644]

@@PivottoEarlyRetirement Thank you