45+ and Have NOTHING Saved for Retirement?
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- Опубликовано: 9 янв 2022
- Saving for retirement ensures that you can live a life of freedom, choice, joy, and meaning as you enter your golden years. But what if you’re 55 and have no retirement savings? What if you have no retirement savings at 60?
This video will take the uncertainty out of retirement planning. If you’re saving for retirement in your 40s (or 50s or 60s), this is a must-watch!! It isn’t too late -- here’s how to save for retirement at 45, how to save for retirement at 50, and beyond -- so that you can have a happy retirement!
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• 45+ and Have NOTHING S...
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Tell me about how you’re feeling about saving for retirement. Do you feel like you’re behind? What do you want to do in retirement?
I need about 1 million to retire in the US. I need about 250k to retire in the Philippines or Peru. Easy choice.
Love these videos and love being a member of the Million Dollar Year! I'm 54 and it's definitely not too late. The course is a game-changer and incredibly empowering! Thanks Dow Janes! XO
Emergency fund should be number one. If a financial emergency occurs and you dont have one set up, you won't be able to do anything financially, and it could cause you drastic results.
Great video! Keep them coming! 😊
I wished I had put all my retirement in a Roth 401k instead of a regular 401k. Everyone said you need to do 401k so I did. I do have other retirement accounts thankfully. You can get into a catch 22 if you have a sizeable 401k and nothing else and retire with a lot of monthly expenses. You end up having to take out a large sum which puts you in a higher tax bracket and can also make your medicare insurance higher.
I enjoy your videos. Keep them coming. I am in my 40's and I haven't saved anything yet. I am living paycheck to paycheck. I was able to pay off a big debt last summer. So it has given me some breathing room. I am hoping to start saving this year, better now than never, right? I am hoping to build a self-sustainable homestead and in my retirement to enjoy the fruits of my labor. I would like the leisure to relax, travel, enjoy my hobbies and basically have the freedom to do whatever I want.
That is AMAZING!!! Being able to pay off debt is a huge freakin' deal and it sounds like you've taken some big steps to be able to take control of your finances and improve your life. And you're absolutely right -- it's better to start later than never. Best of luck being able to achieve all of your goals, so glad you find our videos useful, and CONGRATULATIONS on your success so far!! 🎉
@@DowJanesFinancialEducation Thanks so much for your response and encouragement. I really appreciate it. have a lovely day. Please, keep creating this amazing and informative content.
I am a SAHM and I was looking at my husband's retirement. Life threw us curveballs so we are bit late to the game. We are getting his full match, opened an ira roth. However, given my health issues MS, his company has two healthcare plans. We choose FSA because it has cheaper payments, but I know the HSA rollover, but the higher cost during the year would hurt.
can you max out a regular IRA and if you have a side hustle open and max out a solo 401k or SEP?
What about taking out a consolidation loan to lower interest on my debt?
where should we find a solo 401 account ???
Hi there! I love this channel. I have a question about the Roth IRA. The amount of money I’m aloud to contribute, would be 7,000 as I’m over 50. What does this mean? I opened an account with 7,000 dollars. Does this mean that I can only put 7,000 in a year? Or can I put in more? Taxes? I have nothing saved for retirement but I’m in a great position to save now at 52.
Following. Same question and also the HSA. Can we CONTRIBUTE TO both Roth and HSA every year
Annual contribution limit
How are we supposed to take these RUclips influencers seriously as being knowledgeable when they don’t even understand basic math.
I am literally 50 and make $60,000/yr. I am also just now out of debt and beginning my journey to save for retirement.
Here is how outrageous their numbers are…My cost of living is literally 37% lower than national average, I’m debt free , live lean, and I can only invest 30% of my income.
If these people can’t be trusted with basic math, for goodness sake, don’t trust them with the advanced math of retirement.
Nope, too late. Unless you can put in $3000 a month. You missed the boat! There is no time for compounding interest unless you invest big monthly.
You cannot tell people this. Saving and investing something is better than nothing. Plus you have no idea how long someone will live.
They need to hear the truth. At 45 if you have not saved for retirement you are not going to save now. It's not fun or possible for most people to work till 70 let face reality. I'm 47 and will stop working at 55. Btw, I travel, eat well every years but I also know the important of saving😊
@@tkhemjinda you’re not wrong in some ways but starting in the mid 40s is possible I’ve seen many people doing it. Yes you put away a significant amount of money but having a million in 20 years it’s doable. Don’t tell people they’ve missed the train. If you can get debt free one can save a lot!
50% of my income, in this economy? Reduce my expenses? Seriously? This is the most out of touch, waste of my time advice I’ve seen to date. This is just Dave Ramsey 101