Turning 50 or More in 2024? It's Time to Catch Up on Retirement Planning.
Standard financial advice when it comes to planning for retirement boils down to "start early, regularly invest in stocks, and let compounding over time work its magic." That works great on paper, but in reality, life gets in the way for most of us.
Far more typical is something along the lines of:
And then only later, once your kids are fairly independent, do you feel like you really have enough wherewithal to actually start investing for your own future. Unfortunately, by that point, compounding can't work as hard as it could have if you had started earlier in your career.
Source Fool.com
