Too Late to Save for Early Retirement?

Early retirement usually requires you start saving early in your career! But --- if you're a late starter Certified Financial Planner Troy Sharpe of Oak Harvest Financial Group has some ideas for you.

  1. Start NOW. You really need to catch up. So - starting now target 30% of your take-home pay going into what he calls the "Bank of Tomorrow." You need to save it. You need to Invest it. And make sure you target that 30% of your take-home pay income level.
  2. There's Passive Income to Explore. You don't have to buy an apartment complex to bring in passive income. In order to generate a passive income stream in retirement, you do need funds saved up so you can make investments - whether it's a passive real estate or even a lifetime income annuity.
  3. Get a Professional on Your Side. It is absolutely worth the hourly fee to sit down with a Certified Financial Planner Professional and tell them your situation. Do be embarrassed - be honest. Start the process of building a financial plan and strategy. That should help you save a lot more and make better decisions. Don't do this alone!

Starting a Retirement Plan at 50

You may miss out on the vacation home in the Swiss Alps you always wanted -- but you still have time to create some real comfort for your silver and golden years!


Mature couple cycling on the beach at sunset or sunrise.

You may still have time to plan for your retirement.Photo: Getty Images

Sponsored Content

Sponsored Content