Today’s Financial Message Just for you, {{ first name | friend}}

We were supposed to have our retirement plan figured out by now, right? Turns out most of us don't, and that's actually pretty normal for our generation. If your 401k looks sad, you're not alone.

Between raising kids, helping parents, and surviving multiple recessions, retirement savings got bumped down the list. But every year you wait makes it that much harder to catch up. Compound interest works both ways, and right now it's working against you.… Continue Reading

Source: Bankrate retirement survey, August 13-15, 2025

58% of retirement savers cite outliving their assets as their greatest retirement fear. Source: Cerulli Associates

Two new surveys: Schroeder’s US Retirement Survey and the Nationwide Retirement Institute and The Harris Poll have been showing up in multiple financial news articles lately, pinpointing some of the deepest concerns Gen X faces around retirement savings.

Some of the most interestingly incongruous survey answers include:

61% of all non-retired Gen X investors said that until the age of 50, they felt their retirement was a distant milestone, rather than an urgent priority.
32% said that insufficient retirement income is their biggest obstacle, yet…
38% said they still expected to retire at the same time they’d imagined 12 months ago.

If they started late, and are worried they don’t have enough, how do they expect to hit their career exit strategy on time?

The overall message of these recent surveys and articles seems to address the growing anxiety from the Gen Xers who feel woefully behind where we ‘should be’ on retirement savings, but…

“The good news: There’s still runway ahead.” (Source: Yahoo Finance)

That said, where do you get started when you need to jump on that runway?

No Retirement Savings? Get Back on Track With These 5 Solid Tips

1. Understand That Time is Against You.

Yes it’s harsh. Staying positive is always important, but there is no use sugar-coating the mathematics of the challenge you face.

Just know that as soon as you decide to do something about it, you’re that much more likely to succeed.

Think of this:

You’re 50 and you just started an IRA. If you hit your $8,600 max every year until you’re 65 and get even 2% interest, you’ll have $148,000. That means saving $716/month, and doesn’t take into account any savings you already have.

Start somewhere, but start now.

Try out this handy-dandy calculator site if you want to math your own math.

2. Save More Aggressively.

Once you hit 50, you have more options to jump ahead on your retirement contributions.

Normally, a 401(k) can only receive $24,500 in annual contributions.

However, if you’re 50-59 or 64+, you can make “catch-up” contributions of up to $7,500 on top of that.

There’s even a “super catch-up” if you’re 61, 62 or 63 - and you can contribute an extra $11,250 (Check if your plan allows this.).

IRAs have a similar mechanism. You can contribute $7,500 normally. But those aged 50 and up can contribute an additional $1,100 for a total of $8,600 per year.

It may not seem like much, but for the 17 years between 50 and 67, maxing out your retirement account contributions into retirement investments can make a huge difference in your retirement savings.

Source: Fidelity

3. Earn More.

At this point in your career, there’s no better time to leverage your skills and knowledge into another revenue stream. Technology has made it easier than ever to connect with people and start a small business, whether it’s a podcast, a YouTube channel, or a consulting role.