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How To Start Saving In Your 50s

Saturday, August 17, 2013 - 8:24 AM
If you've reached your 50s with little or nothing in the bank, you've got your work cut out for you.

You'll have to set aside more of your earnings and consider some savings-stretching options that wouldn't be necessary if you had started a little earlier in life.

How to start saving in your 50s |
ShorebreakShorebreak2,675 posts since
Apr 6, 2010
Rep Points: 14,526
1. Saturday, August 17, 2013 - 8:41 AM
"Between 50 and 65, we assumed each worker would be in the top 25% of their profession, with only a quarter of their peers making more and 75% making less."

Right and don't think the companies aren't watching this with an eager eye.  That's when some decide to get rid of these folks and replace them with younger workers who have to do the same job for quite a bit less.  What really is the joke is when they have the audacity to have the new younger worker call the old guy who is about 57 years old to teach him how to do the job "he" just got kicked out of!  What nerve!  Guess what his answer was.  That is not the time to be cooperative with the company that just "early retired" you!   Like workers actually get to decide how long they will stay on at a job these days.  You reach 50 and you better have other options available for "just in case".
paoli2paoli21,401 posts since
Aug 10, 2011
Rep Points: 6,134