I'm 55 with Zero Saved for Retirement!

The high prices have affected my retirement plan to retire at 62, work part-time, and build my savings. I worry that those who experienced the 2008 financial crisis faced fewer challenges than I do now. The stock market's volatility, combined with a reduced income, makes me anxious about having enough for retirement.

I've kept much of my savings in cash for safety, but I'm unsure if it's right for retirement. Contemplating investing $400K in stocks, as I've heard investors can profit in tough times. Unsure about my next move.

I've been diligently working, saving, and investing towards financial freedom and early retirement. However, the economy's downturn since the pandemic has significantly eroded my portfolio. My question now is: Should I continue contributing to my portfolio in these unstable markets, or should I explore alternative sectors?

I don't blame the new wife one bit! She has her entire life savings to potentially lose with this guy that has nothing but baggage at this point. This doesn't mean she doesn't or can't love him, but she's smart to protect her own future!

No debts and has a place to live. If he continues to work and save, he's in a great position to get his future together.

I don’t blame her. Assuming they are both in their 50’s I don’t think it is crazy to wait for him to truly demonstrate fiscal responsibility before combining money

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

Sometimes love makes you very vulnerable. You need to be cautious because when you get older it's hard to start over.

I was this man. I became financially independent in 3 years

It is in our nature to think about what we did wrong. I should have, if only I did this, what about that, and so on. The key is to shift the mindset. 55 and zero saved doesn't have to mean anything. Change the mindset, create the action, and make a new outcome. Everything starts again when we decide to change the path. Keep fighting the good fight!

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.

It's both your second marriages and you're surprised she wants to keep it separate.

This is literally my step dad. The worst part is worrying about my moms future as theyre supposed to be nearing retirement. He has nothing but multiple payments a month.

Woman calls: I make $250k and have over $1M saved for retirement and a paid for house worth $350k and I'm planning on marrying a "self employed" man with debt and no savings. Wanna make sure my kids can go to college. Dave: get a prenup because of wealth disparity

The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.

If the guy is a sole proprietor, it’s not in the woman’s best interest to combine the house because it exposes the house to potential lawsuits against the guy. If that’s the case, the woman is smart.

Well, I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises plummeting stocks that were once revered and I don't know where to go here out of devastation.

He came into the marriage broke, "self-employed" and in debt. The new wife is exactly right to keep it separate. He has the opportunity to save and invest huge amounts(more than 15%) now that he is debt-free and has a roof over his head. Just go with it.

Turned 25 in November and I'm on Baby Steps 5, 6, and 7. Retirement has been important to me since I turned 21. It helps having a partner that shares this interest. I capped out my Roth IRA contribution this year. Focused but not finished!

I don't blame his wife. Second marriages have a 70% failure rate.