At the age of 57, many individuals are starting to think seriously about retirement. They may be looking forward to the golden years ahead, where they can relax and enjoy the fruits of their labor. However, for some people, the reality of retirement can be a harsh wake-up call. Such is the case for John Smith, a 57-year-old man who has nothing saved for retirement.
John had always prided himself on living in the moment and not worrying too much about the future. He enjoyed spending his money on nice dinners, trips, and luxury items without much thought about saving for retirement. However, as he approached his late 50s, he realized that he had no savings to fall back on when he eventually stops working.
The realization hit John hard, as he started contemplating his options for the future. He knew that Social Security alone would not be enough to fund a comfortable retirement, especially with the rising costs of healthcare and living expenses. John considered delaying his retirement and continuing to work for as long as possible, but he knew that his job as a manual laborer would become increasingly difficult as he aged.
With limited options available to him, John sought the advice of a financial planner to help him navigate his financial future. The planner informed him that it was not too late to start saving for retirement, but that he would need to make significant sacrifices to catch up. John would need to cut back on his expenses, downsize his lifestyle, and start putting away a substantial amount of money each month into a retirement account.
John was overwhelmed by the task ahead of him but knew that he had to take action to secure his future. He started by creating a budget and tracking his expenses, identifying areas where he could cut back and save more. He also opened a retirement account and set up automatic contributions to ensure that he was consistently saving for the future.
While John’s situation may seem dire, it serves as a cautionary tale for others who may be neglecting their retirement savings. It’s never too late to start saving for retirement, but the earlier you begin, the better off you’ll be in the long run. By making a commitment to save for the future and living within your means, you can ensure a comfortable retirement for yourself and your loved ones.
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Omg….
You can kick ass and take names and save money and have retirement saved then get laid off multiple times for multiple jobs and get sick and have medical bills and it wipes it out in no time.
SAVE YOUR MONEY, LIVE LIKE A PEASANT, GET HIT BY A BUS…..NO POCKETS IN COFFINS
Telling people to save 10% of your income is really easy. In the real world, shit happens.
I'm a saver. My brother keeps tellime me I'm cheap. I started maxing-out my IRA contributions when I got my first job after college.
I'm 49, have $500k saved, but to retire and live a conservative life style, I'd need approximately $2 million.
Between the ages of 24 and 34, I spent 1/3 of that time out of work because of lay offs. I've tried to start 4 businesses, I lost money on all of them. Most entrepreneurs fail over and over again. Some make it, most dont.
Shit happens.
And never, NOT ONCE, will these scam artists ever talk to you about things outside of your control that can turn your spoiled eggs into sour milk…because then they'd have no one listening to them.
Have no money??? Start a business
You invest, not save
My parents 60-65 have zero savings … Yay me
10 years now thanks to joe. They just moved it to 67
Since this say nothing here: start working young set 10-20% on a minor Roth IRA, work during college, have little to no debt, get a degree that lands you a job , singing, acting , art social justice can be done on the side but may doesn’t pay your bills, if you were so good to live from it you wouldn’t be in college to learn it. Once your 21-22 max your 401k. If you do this consistently, you will have your house by 25 and 500-800K by 40. 2-3M by retirement age.
And I just did it, you know? Just started a business and kept businessing. Now I've overcooked and refried my wealth
I always believe the retirement system was a scam
Save money. If creative build day to day work and money equities. Lose these people. Start a carpet cleaning service. All you need Is one machine. Build it up. Contracts are very Important. Never buddy up with other companies and remember ……you have the right to hire and fire!!!
like 57 nothing saved is rare. Dude lives in an alternate reality
Invest and business At 54 I'm 0 do to illness but next year I should be 1M . Because I have skill sets
Oh yea? We’ll I’m talking about Wealth EXPLOSION
Swear all these guys are the same. They use such vague words/phrases like "wealth acceleration" or "vertical scaling" like no shit ofc you wanna grow your money. Such obvious and at the same time useless jargon thrown around without any tangible steps on how to move forward with creating a business. Best thing to do is what most people do, study hard, find a job that pays well and you enjoy, live life each day at a time and save some money for investment in real estate/stocks preferably with the help of a real estate agent/financial advisor and live your life comfortable and humbly without worrying about squeezing pennies in your 80's. That's it. It's boring, but it's reality and it works for 99.9% of people, including myself.
Remember folks, wealth Xselleration
That guy is a clever man. Won't be surprised to find an empty pot unlike many
How to make millions of dollars: just make that money, stop bring poor.
Bro these financial clowns work and sacrifice their life to make money lol it's not a brag u wasted Ur life
Easier said than done
so he’s saying he told php agency “wealth acceleration” and boom he’s got ten million
become.a citizen of a country that actually looks after its old
I'm using this right now 😀
Everybody has a workshop. I’m offended when you call it a workshop. What work is being done?
Another snake oil salesman
The argument of free healthcare… just dont get sick. Similar to this guy’s argument for starting late to save for retirement… just start a successful business and make more money.
Ar 52 I bought a gun and some bullets, that's my retirement plan. Honestly this seems like the only rational way forward. I have no wife or children so it's no great loss to anyone. And quite frankly, given the physical pain associated with old age, there's no amount of money that could get me to change my mind. Lol
This was brilliantly put together. I've been following your videos for over a year now and with professional help, I'm making progress with my investments decisions.
Bs
Money saves you??? Go gain the whole world, you will lose something to do it.
The art of saying alot with little to no meaning
This some dumb fast talking faker
Entrepreneurship is key.
You should always have a side hustle in entrepreneurship.
It usually takes years of failure to become a successful entrepreneur. To suggest someone just flip a switch at 57, with no capitol, is laughable. These guru guys GOT TO GO
"I have no money and retire in 7 years"
"bE aN eNtRePrEnEuR"
I prefer to do both.
I work full-time and put something like 10-12% in a Roth IRA that my employer matches.
Then, I put a little money into my own investments. I include things like crypto, just to see what happens.
Then, as a side-hustle, I'm worki g on building a rental portfolio.
I also do a bit of online reselling on eBay, OfferUp, etc. But, I don't really care for that much and I don't do enough to really have any impact.
But, it has high potential as a backup. I know people who do that full-time and make a lot.
Stocks, crypto ,entrepreneurship music , art, open a resturant . do whatever the f*** you got to do
TL, DR…
Blah, blah, blah…
Lmaooo php is a pyramid scheme dude sells dreams to fools
So tired of everyone ignoring the state of our economy and pretending we're doing something wrong…..