This video discusses key strategies and important actions to follow right now if you are starting to save for retirement after age 60.

Retirement planning at age 60, in the wake of little or no savings, is significantly different than at other ages. We delve into this very important subject to help you end well, even if you start late.

Chapters
00:00 Introduction
00:12 Know what you REALLY need
01:13 Successfully saving for retirement means knowing the target
01:52 Seven most common areas of spending
02:25 Total needs minus money coming in = the gap
02:48 Understanding the gap
05:02 Should I save for my 37 year old child's education?
05:44 Do you have areas of financial leakage?
06:23 Why paying cash instead of using a credit card saves tons of money!
06:59 What does moving into retirement mode early mean???
07:59 Nobody really says, "I really want to work longer because I can't afford to retire."
08:58 The eternal question, "should I take Social Security early or late???"
09:54 Why getting out of debt ASAP is of paramount importance!
10:42 Why downsizing is a good idea long BEFORE retirement happens...
11:51 Sell the stuff you don't need, it's more important than just the cash!
12:38 Why starting a preretirement sidehustle is supremely important and totally fun!

FREE Retirement Ready Checklist:
https://HolySchmidt.com/Checklist/

Important Links:

Follow Me on Instagram:
  / the_schmidtlist  

Geoff's Facebook Page
  / geoffreymschmidt  

Federal Reserve Board Survey of Consumer Finances:
https://www.federalreserve.gov/econre...

Social Security Administration Application for Benefits
https://secure.ssa.gov/iClaim/rib

Current Social Security Cost of Living Adjustment
https://www.ssa.gov/cola/

Social Security Payment Estimator
https://www.ssa.gov/benefits/retireme...


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Disclaimer: this video is for educational and entertainment purposes only and is not meant to be a substitute for legal, accounting, tax, or professional advice. If you have any specific questions about any legal, accounting, tax or other professional service matter you should consult the appropriate professional services provider.