60 Years Old Without a Retirement Fund

  • Hi Gary,
    My husband and I made some poor choices in our earlier years. Building a new home, then my husband gets laid off after 17 yrs and 2 weeks later I find out I'm pregnant a second time. We had a large mortgage and little income. We rebounded some, but have nothing for retirement. I turn 60 this year and have been trying to build my retirement fund. Am I too late? I only have hospital bills that I'm on a payment plan. I need serious help please!!!
    D.

     

    You're right. You are in a bit of a spot. You'll probably want to read "Things to Do Before You Retire" . You'll also want to save as much as you can before you retire. Even if that means taking a second job for awhile. You might also want to read "10 Ways to Earn Extra Cash" and How to Save $1,000. And, if you don't already, you should subscribe to our After 50 Finances newsletter.

     

    You'll need to get serious about retirement preparations. Delaying is dangerous!
    Gary

Comments

1 comment
  • LisaYarosh
    LisaYarosh Will you and your spouse be receiving social security/pension? Can you downsize to a smaller home and one car? Working full time and a possible part time job may help. Living in a low cost area or state may be another option.
    July 8

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