Early Retirement Blog

If you find yourself at age 50 or over, with little or no retirement savings, do not give up hope.  You can still retire on time if you accelerate your retirement savings plan.

Instead of saving a fixed amount each month, using the method I created in How to Save $1 Million, where you start by saving $500 per month, then increase your monthly retirement savings by $100 per month each year, you can dramatically increase your retirement savings, enjoy a comfortable retirement, and retire on time.   Here is an example:

50 Year old couple
Net worth $50,000
Retirement at age 62
Social Security $1,250 per month

At age 62, using the accelerated retirement savings method, the couple could have a net worth of $400,000 and be able to spend $2,750 per month when they retire.  If they just save $500 per month for the next 12 years, they could have a net worth of $275,000, and be able to spend $2,300 per month at age 62.

How should you save?  Read The Best Asset Allocation Model and  Why Investing is for Idiots, Dummies, and Fools to learn more.

The accelerated retirement savings method increased the amount they can safely spend in retirement by $400 per month.  Either way, if you accelerate your retirement savings plan or not, you can still retire on time even if you start saving for retirement in your 50′s.  Below are more articles and tools to help you achieve your retirement goals.

Learn More:
How to Save $1 Million
10 Green Ways to Save $1 Million
Why You Can Still Retire on Time

Free Retirement Tools:
Free Retirement Software
Free Early Retirement Calculator
How to Retire Early