Sample retirement plan for 50 year old getting late start.

Today we're focused on an article that said 20% of those over 50 have no plans to stop working because they don't think they can. Dustin will work up an example plan to show how even though you may retire a little later you can still retire with the income you need.

We're an investing service that also helps you keep your dough straight. We'll manage your retirement investments while teaching you all about your money.

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[NicholasBall]

It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.

[Hannahbenowitz]

Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?

[blaquopaque]

My $700k retirement account has gone up only by 2% in the past year due to rebalancing I did out of fear uncertainty and doubt. What are best alternatives to take in other to secure a financially free retirement and achieve ultimate Peace? I don’t want to fail after 22 years of working hard.

[Stephine-unzs]

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680, 000 savings vanish after putting in so much effort to accumulate them.

[patrickbrussels]

Thank you for providing such valuable information. It's exactly what I needed to hear. Both my wife and I serve as directors for our farm business, and we also own property along with our small pensions. As I approach the age of 55 and my wife is 52, we have initiated our savings journey towards retirement from the farm. Our aim is to potentially rely on rental income to support our retirement lifestyle. I would greatly appreciate it if you could organize a live session where you discuss strategies for earning passive income online and achieving a comfortable retirement, with a target goal of $1M.

[donaldgaff]

Retirement is not an end, but a new beginning.Your dedication today will pave the way for a future filled with financial security and the freedom to pursue your passions.Big ups to everyone working effortlessly trying to earn a living while building wealth. I’m 50 and my wife 44 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle made it possible for us this early even till now we earn monthly through passive income..

[cisium]

I am self-employed and no matter how much wealth I accumulate, I will never stop working. All men have to be working on something. Without work, a man shrivels up and dies.

[billyoung]

I started my 401(k) at age 54 around 16-months ago. Putting 10% plus a 3% match. Current balance is a little over $30k. If I can work until age 70 I'll have around $750k (assuming I increase contributions by 1% each year and get a 3% raise each year). I am a statistician, so I have very accurately run the numbers. I'm a T1 diabetic, so I know I will not have a long retirement. Have around $500k life insurance to support my wife if I die first, and never had kids. My circumstance is certainly not everyone else's.

[luxuryspacegaycommunism]

No matter how old you are, it's never too late to start saving.

[PixieDusted]

Thank you so much! I’m 49, waitressed my whole life & have very little saved. I just began a job w a 401k & am taking your advice. Blessings

[plokiju]

I’m gonna turn 50 this year and this video gave me hope for a not so gloom next stage. Thank you 🥰🥰🥰

[kimpossible]

As we age we must work smarter not harder

[ceciliaruns]

Thank you for lifting that dark cloud!! There is hope for me!

[alfredalbert]

I’m a dividend investor, my wife and I have invested in the s&p500, both through my TSP with the government and through fidelity in her 401-k. Cashed out 370k from the S&P and invested with a full service broker.. Until about 3years ago we were 100% in the s&p after over 30 years. I’m retiring at the end of the month at 59, while my wife will retire next year at 54. We currently have 5.7 million in out tex deferred savings.

[skeptical_sorcerer]

I am 50 and will retire next I have saved and invested all my working life and, more importantly, I have avoided debt my whole life except 1 home mortgage which I paid off in 7 years. Haven't even given a thought to social security.

[LittleMissSunshine]

I am 61 and just starting my Roth make up plan, just found your channel giving me lots of hope, thank you.

[ronb]

Dustin, this is when you are at your best. You're not telling people what they can't do. You're teaching them what's possible. For this I thank you!

[ShaneHummus]

Good one, people always says it's too late. It's not, investment is for anyone at any age.

[xsfjmsl]

I live in Texas and love making people smile. I say things to strangers that almost always make them smile. I met a lady last summer, as she was walking out of Walmart with a smock, and engaged her. She wasn't a very happy lady. She was skinny and looked like she had been beaten with a broom.


I simply asked her if she was ready to take the rest of the week off. This usually gives people a reason to express their wish that it was possible. But this lady was not pleased my question and told me as much.


We talked for a few minutes and it turned out she was 88 years old working at Walmart. She hated it. The rules and manipulation by management made her job difficult.


I told her I thought no one should be working at 88 years old. She proceeded to tell me how her husband died 20 years earlier and left a mobile home with floors rotting. She had to work to take care of her home and working at Walmart was required.


It broke my heart to hear that she had those problems and I was not in a position to help.

[palomahealing]

Thank you for thinking of us older population!! 💖💖💖