Starting Late? How to Still Retire Early

In this episode of the Retire Early Podcast, financial advisors and retirement planners Sam Benson and Linwood Fraher address a critical concern: is it too late to start saving for retirement if you're behind? They discuss practical strategies for those who haven't started saving or have minimal savings by age 40 or 50. Key takeaways include setting clear retirement goals, utilizing employer 401k matches, investing in IRAs, and the importance of automating savings. They also emphasize working longer, saving more, and reducing debt to secure a comfortable retirement. The episode is filled with actionable advice to help late starters build a strong financial future.

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Article referenced:
https://www.ramseysolutions.com/retirement/40-with-no-savings-retire-a-millionaire 

00:00 Introduction: Is It Too Late to Start Saving for Retirement?

00:54 Meet the Hosts: Sam Benson and Lin Wood Freyer

01:48 The Importance of Starting Now

02:30 Real-Life Example: Starting Late and Succeeding

03:38 Defining Your Retirement Goals

05:23 Maximizing Your Savings: 401k, IRAs, and More

08:10 Strategies for Catching Up: Saving More and Spending Less

09:50 Automating Your Savings

12:37 Final Thoughts and Encouragement

15:44 Conclusion and Contact Information

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