From Pete the Planner via USA Today …
Two weeks ago, I met a 50-year-old woman who made a solid income but basically had nothing saved for retirement. A couple of days later, I met a man who was her financial mirror image. A week after that, I met another 50-year-old man who hadn’t saved a figurative dime. Then I met yet another 50-year-old woman who had nothing.
For them, I felt sad, scared, mad and, more than anything, challenged – challenged to find a reasonable strategy that would help a 50-year-old American work over the remaining 20 years of their career to live a respectable retirement.
Although my plan is realistic, it’s intense. A 50-year-old has only 20(ish) years to build the missing foundation, the walls, the roof, the moat and everything else a person needs to survive decades without work income.